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North Dakota to Launch State-Issued Stablecoin for Bank Transactions

North Dakota to Launch State-Issued Stablecoin for Bank Transactions

North Dakota follows Wyoming in adopting blockchain-based money, with Roughrider Coin set for launch as a state-backed stablecoin for interbank use.

Fact Check
Multiple sources directly confirm that the Bank of North Dakota is launching a stablecoin, referred to as the 'Roughrider coin'. The issuer is the nation's only state-owned bank, and one source specifies its initial use will not be for consumers, which aligns with the statement's claim that it is 'for Bank Transactions'.
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Summary

North Dakota plans to launch Roughrider Coin, a state-backed stablecoin for interbank transactions, in partnership with Fiserv. The initiative, slated for 2026, follows Wyoming’s Frontier Stable Token and is supported by the federal GENIUS Act. The U.S. stablecoin market has grown 70% in the past year, reaching $293 billion, highlighting rising state-level blockchain adoption.

Terms & Concepts
  • Stablecoin: A type of cryptocurrency pegged to a stable asset, such as the U.S. dollar, to minimize price volatility.
  • FIUSD system: Fiserv’s regulated stablecoin network designed for financial institutions to conduct digital transactions.
  • GENIUS Act: A U.S. federal law establishing a regulatory framework for stablecoin issuance and adoption by financial institutions.