The Bank of North Dakota (BND), the only state-owned bank in the U.S., is venturing into crypto with its own stablecoin, “Roughrider,” in partnership with Fiserv. Announced on Oct. 8, the project aims to launch by 2026 and will operate on Fiserv’s proprietary digital-asset platform.
According to BND, the Roughrider coin will be a dollar-pegged stablecoin built for use by local banks and credit unions, marking a significant modernization of the state’s financial infrastructure.
A State Legacy Meets Blockchain Innovation
The “Roughrider” name pays homage to North Dakota’s historical ties to Theodore Roosevelt’s volunteer cavalry. Yet beyond symbolism, the coin is designed to enhance financial efficiency and resilience.
BND’s release outlines key goals: improving interbank transaction speed, simplifying cross-border payments, and fostering merchant adoption within the state’s economy.
Governor Kelly Armstrong highlighted the initiative’s importance, stating, “North Dakota is taking a cutting-edge approach to creating a secure and efficient financial ecosystem for our citizens.”
Fiserv Brings Scale and Credibility
Fiserv’s digital-asset platform, which also powers its own FIUSD stablecoin, will host Roughrider. With Fiserv processing about 90 billion transactions annually for over 10,000 financial institutions worldwide, its partnership adds both reliability and global reach.
A Broader Trend of State-Backed Tokens
North Dakota’s move follows similar initiatives in other U.S. states. Wyoming launched its state-backed stablecoin earlier this year under the Stable Token Commission, following new federal guidance on dollar-pegged digital assets.
If successful, Roughrider could position North Dakota as a leader in merging traditional banking with blockchain, reinforcing both state sovereignty and financial innovation in the digital era.
