The US state of North Dakota is joining the Stablecoin trend, with state-owned Bank of North Dakota partnering with payments infrastructure giant Fiserv (FI) to launch a US dollar-backed token aimed at financial institutions across the state.
The token, dubbed “Roughrider Coin,” is expected to roll out next year and will run on Fiserv’s digital asset platform and connect to its white-labeled Fiusd system, a Stablecoin network designed for regulated banking environments.
The token aims to “increase bank-to-bank transactions, foster the global movement of money, and drive merchant adoption,” the companies said in a press release.
The news follows Fiserv’s entry in June with its crypto issuance platform on Solana to the rapidly growing Stablecoin sector. Stables are increasingly used as a faster, cheaper and programmable alternative to moving money over blockchains. The asset class rose to $293 billion, expanding roughly 70% in a year. The accelerated growth was spurred by the Genius Act, signed by US President Donald Trump in July, which established a federal framework for stablecoin issuers and cleared a legal path for financial institutions to adopt the technology.
With its Stablecoin plan, North Dakota joins Wyoming as the latest US state experimenting with Crypto. Wyoming deployed its state-issued border stablecoin earlier this year, and it is currently in a testing phase.
Fiserv processes more than 90 billion transactions a year for 10,000 financial institutions, and aims to position itself as a bridge between traditional finance and blockchain technology.
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