Key Points
- Bank of North Dakota and Fiserv aim to launch the first state-backed stablecoin, Roughrider Coin.
- The global stablecoin market surpasses $313 billion, driven by improved regulatory clarity in the US.
The Bank of North Dakota is partnering with financial technology leader Fiserv to introduce Roughrider Coin, the first state-supported stablecoin in the United States.
Official announcements reveal that Roughrider Coin will be launched on the Fiserv digital asset platform and backed entirely by US dollars. It is set to be available to North Dakota banks and credit unions in 2026, with the objective of enhancing bank-to-bank transactions, global payments, and merchant adoption.
Efficiency in the Financial System
North Dakota Governor Kelly Armstrong highlighted the necessity for a more efficient financial system as the primary motivation behind the decision. He stated that North Dakota is adopting a cutting-edge approach by being one of the first states to issue its own stablecoin backed by real money, aiming to create a secure and efficient financial ecosystem for its citizens.
Fiserv, which currently handles over 90 billion transactions annually across 10,000 financial institutions, will supply the underlying blockchain architecture for Roughrider Coin. Fiserv’s COO Takis Georgakopoulos also underlined the importance of blockchain technology in facilitating faster digital payments.
Stablecoin Market Growth
The launch of Roughrider Coin coincides with the global stablecoin market exceeding $313 billion, marking a 21.4% increase since July when US President Donald Trump signed the Genius Act into law.
More clarity in US regulations has led to a worldwide corporate adoption of stablecoin. Existing players like Tether and Circle have invested in new Layer-1 chains, Plasma and Arc, to amplify stablecoin utility for USDT and USDC respectively.
New entrants such as Trump-backed USD1 added $2.3 billion in market capitalization within three months post-launch. In September, nine European banks teamed up to issue a euro-denominated stablecoin.
