North Dakota, in collaboration with Fiserv, a global provider of payments and financial services technology, has announced the upcoming launch of the Roughrider coin, the state’s first stablecoin. Fully backed by U.
S. dollars, the Roughrider coin is set to be the first U.
S. state stablecoin to operate on the Fiserv digital asset platform, with availability planned for banks and credit unions in North Dakota by 2026.
The Roughrider coin, named in honor of Theodore Roosevelt and his Rough Riders, is designed to enhance bank-to-bank transactions, facilitate global money movement, and promote merchant adoption. It will leverage Fiserv’s FIUSD digital asset platform, which was introduced in June to provide Fiserv customers with an efficient and interoperable digital asset payment service for banking and payment flows. The Roughrider coin is expected to be interoperable with other digital coins.
Governor Kelly Armstrong commented on the initiative, stating, “As one of the first states to issue our own stablecoin backed by real money, North Dakota is taking a cutting-edge approach to creating a secure and efficient financial ecosystem for our citizens. The new financial frontier is here, and The Bank of North Dakota and Fiserv are helping North Dakota financial institutions embrace new ways of moving money with the Roughrider coin.”
Fiserv, which serves approximately 10,000 financial institution clients and six million merchant locations, processing 90 billion transactions annually, is positioned to support the integration of digital assets. The company aims to drive the adoption of bank-friendly stablecoins, including Roughrider coin, across the payments industry and within North Dakota’s financial institutions.
Takis Georgakopoulos, COO at Fiserv, remarked, “We’re entering a new era where payments are instant, interoperable, and borderless. With Roughrider Coin, we’re bringing together the reliability of traditional finance and the innovation of blockchain to deliver faster and smarter digital payments. North Dakota’s vision and leadership in launching this initiative show how forward-thinking policy can drive real progress in digital finance. We are pleased to be selected as their partner.”
The Bank of North Dakota (BND), the only state-owned bank in the United States since 1919, focuses on promoting agriculture, commerce, and industry. Don Morgan, chief executive officer of the Bank of North Dakota, highlighted that the development of the Roughrider coin reflects this commitment, capitalizes on recent changes in federal law, and aims to ensure the continued health, resilience, and relevancy of the North Dakota financial industry for its citizens.
