The Bank of North Dakota has teamed up with core banking partner Fiserv to develop and launch a US state stablecoin dubbed the “Roughrider coin”.
Fully backed by the US dollar, the Roughrider coin has been created through Fiserv’s digital asset platform, which launched in June. Fiserv says the Roughrider coin will be “the first US state stablecoin to launch on the Fiserv digital asset platform”.
The Bank of North Dakota states that it will now conduct beta testing with Fiserv to “demonstrate that stablecoins can be used between financial institutions to improve efficiency and quality control with financial transactions between them”. The offering is set to be made available to banks and credit unions in North Dakota in 2026, and will not be accessible to the general public.
In a separate statement, Fiserv says the offering seeks to “increase bank-to-bank transactions, encourage global money movement, and drive merchant adoption”. The US banking and payments tech software heavyweight notably debuted its own white-label stablecoin offering, FIUSD, on Solana earlier this year, working in collaboration with fintechs Paxos and Circle.
State governor Kelly Armstrong says that the Bank of North Dakota and Fiserv “are helping North Dakota financial institutions embrace new ways of moving money with the Roughrider coin”.
The Bank of North Dakota is the only state-owned bank in the US and, established in 1919, is currently led by CEO Don Morgan. Morgan says the collaboration with Fiserv “capitalises on recent changes in federal law”, namely the GENIUS Act, which was signed into US law in July and establishes a regulatory framework requiring stablecoins to be backed by high-quality assets such as US dollars.
Source: https://www.fintechfutures.com/
