Key Notes
- The dollar-backed stablecoin will serve North Dakota banks and credit unions through Fiserv’s digital asset platform.
- Named after Theodore Roosevelt’s Rough Riders, it aims to enhance interbank transactions and global payments.
- Fiserv processes 90 billion transactions annually across 10,000 financial institutions, providing the blockchain infrastructure.
Bank of North Dakota, in collaboration with financial technology giant Fiserv, has announced plans to launch Roughrider Coin, the first state-backed stablecoin in the US.
According to official reports, Roughrider Coin will launch on the Fiserv digital asset platform, fully backed by US dollars. It will be available to North Dakota banks and credit unions in 2026, aiming to streamline bank-to-bank transactions, global payments, and merchant adoption.
Governor Kelly Armstrong cited the need for a more efficient financial system as a key driver behind the decision.
“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,” said North Dakota Governor Kelly Armstrong.
Fiserv, which currently processes over 90 billion transactions annually across 10,000 financial institutions, will provide the underlying blockchain architecture for Roughrider Coin.
Fiserv’s COO Takis Georgakopoulos also emphasized the need for blockchain technology to deliver faster digital payments.
“With Roughrider Coin, we’re bringing together the reliability of traditional finance and the innovation of blockchain to deliver faster and smarter digital payments,” Fiserv’s COO Takis Georgakopoulos noted.
Stablecoin Market Crosses $300B as US Regulations Drive International Impact
The Roughrider Coin launch comes as the global stablecoin market surpasses $313 billion, reflecting a 21.4% increase since July when US President Donald Trump signed the Genius Act into law.
Total Stablecoin Market Capitalization (STABLE.C) grows 21% between July 7 and October 8, 2025 | TradingView
Improved regulatory clarity in the US has driven corporate adoption of stablecoin globally. Existing players Tether and Circle have invested in new Layer-1 chains, Plasma and Arc, to enhance stablecoin utility for USDT and USDC respectively.
While new players like Trump-backed USD1 added $2.3 billion in market capitalization within three months post-launch, nine European banks collaborated to issue a euro-denominated stablecoin in September.
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Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
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