North Dakota becomes second state after Wyoming to issue stablecoin "Roughrider Coin", to initially facilitate bank-to-bank transactions while the digital tokens are being more widely experimented with the financial system in the US. The token was named after the US volunteer military regiment led by Theodore Roosevelt during the Spanish-American War, and slated to be launched next year.

North Dakota’s state-owned Bank of North Dakota (BND) has partnered with payments technology provider Fiserv to launch Roughrider Coin, a dollar‑backed state stablecoin that will initially be used only for bank‑to‑bank transactions among North Dakota financial institutions. The initiative makes North Dakota the second U.S. state after Wyoming to roll out its own state-branded stablecoin, reflecting a broader phase of public‑sector experimentation with tokenized money under the new federal GENIUS Act framework for payment stablecoins. According to BND and Fiserv, Roughrider Coin will be fully backed by U.S. dollar reserves held at the Bank of North Dakota, allowing 1:1 redemption and aiming to provide a faster, always‑on payment rail for interbank transfers, merchant payments, and potentially cross‑border transactions. The rollout is explicitly institution‑only at launch: access is restricted to banks and credit unions in North Dakota, and the public cannot hold or invest in the token, distinguishing it from consumer‑facing crypto stablecoins and from Wyoming’s retail‑oriented state stablecoin. The coin will run on Fiserv’s digital asset platform (alongside Fiserv’s own FIUSD stablecoin), with design features aimed at interoperability with other permitted stablecoins and strict wallet controls so only approved financial institutions can transact with it. The project sits at the intersection of state monetary innovation and evolving U.S. federal policy. Under the GENIUS Act of 2025, private stablecoin issuers are subject to stringent federal reserve, disclosure, and oversight requirements, but state‑issued stablecoins are expressly exempt, giving states latitude to experiment with tokenized, dollar‑backed instruments as public infrastructure. North Dakota is leveraging that carve‑out through its unique state‑owned bank to modernize interbank payments and support local economic objectives, while testing how blockchain‑based rails can operate within a tightly controlled, regulated environment. The token’s name references the “Rough Riders,” the volunteer cavalry regiment led by Theodore Roosevelt in the Spanish‑American War, underscoring the state’s branding of the initiative as both technologically forward‑looking and historically rooted.

✨ AI-generated background, compiled from web sources — not editorial content.

More coverage

• Bank of North Dakota and Fiserv Partner to Launch "Roughrider ... (businesswire.com)
• The GENIUS Act and North Dakota's Roughrider Coin (clsbluesky.law.columbia.edu)
• North Dakota Launches State's First Stablecoin | Sheppard (sheppard.com)
• Fiserv launches Roughrider stablecoin - Payments Dive (paymentsdive.com)
• Roughrider Coin - Bank of North Dakota (bnd.nd.gov)

Explore the topic

• War
• COIN
• Stablecoins