Fiserv and the Bank of North Dakota will roll out a state‑backed stablecoin next year, part of a growing effort to integrate blockchain payments into the U.S. banking system. The token, named “Roughrider” after Theodore Roosevelt’s volunteer cavalry regiment, will be available to banks and credit unions across the state, the companies said Wednesday.
Governor Kelly Armstrong called the launch a milestone for the state’s financial infrastructure. “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,” Armstrong said. “The new financial frontier is here, and the Bank of North Dakota and Fiserv are helping our financial institutions embrace new ways of moving money with the Roughrider coin.”
The project reflects a broader move among state‑linked institutions to test regulated blockchain systems following new federal guidance on stablecoins. Officials said the Roughrider coin will support faster, cheaper interbank transfers and provide a compliant digital payment option for local lenders.
Built on Fiserv’s FIUSD Platform
The Roughrider coin will run on Fiserv’s FIUSD platform, a digital asset system introduced in June that allows clients to issue and transact in interoperable, dollar‑backed tokens. Fiserv said the North Dakota stablecoin will eventually be compatible with other FIUSD‑based assets, enabling transfers between banks and financial networks using the same underlying infrastructure.
North Dakota’s initiative follows Wyoming’s launch of a state stablecoin in August — the first to go live on mainnet — about a month after President Donald Trump signed the federal stablecoin bill into law. The new legislation created a framework for banks and issuers to operate under federal supervision while letting states manage their own token programs.
Industry observers say the law has opened the door for public–private collaborations that combine state regulatory oversight with corporate infrastructure. The Roughrider project positions North Dakota among the first U.S. jurisdictions to implement such a model.
Bank–Blockchain Integration
The partnership aims to bridge traditional banking and blockchain systems without exposing consumers to cryptocurrency volatility. Stablecoins — digital tokens pegged to fiat currencies — are being tested globally as faster and cheaper settlement tools for interbank transfers, payroll, and public disbursements.
For North Dakota, the initiative will extend the reach of the Bank of North Dakota, the country’s only state‑owned bank, founded in 1919. By offering blockchain‑based payments to community lenders, the bank hopes to improve liquidity and efficiency across local financial institutions.
“We’re entering a new era where payments are instant, interoperable, and borderless,” said Fiserv Chief Operating Officer Takis Georgakopoulos. “North Dakota’s vision and leadership in launching this initiative show how forward‑thinking policy can drive real progress in digital finance.”
State Stablecoins Gain Ground
North Dakota’s move follows a steady build‑up of interest in state‑issued digital currencies. Wyoming’s program has already begun processing limited transactions, while other states are evaluating similar models under the new federal framework. The approach differs from privately issued stablecoins such as Circle’s USDC and PayPal’s PYUSD, which remain dominant in the commercial sector.
Supporters argue that state‑backed tokens could accelerate blockchain adoption within the banking industry by providing a regulated bridge to digital payments. Critics, however, question whether smaller states can sustain the technical and compliance requirements of issuing digital money at scale.
If launched as planned in 2026, Roughrider would make North Dakota the second U.S. state to operate a blockchain‑based currency under federal oversight. Officials said more details on pilot programs and commercial partnerships would be released early next year.
For now, the project remains under development, but the message from Bismarck is clear: North Dakota wants to ensure that its banking sector isn’t left behind as blockchain infrastructure enters the mainstream.