North Dakota is staking its claim in the digital currency revolution. The Bank of North Dakota and fintech giant Fiserv announced plans to launch Roughrider, a dollar-backed stablecoin, in 2026. The token will be accessible to banks and credit unions statewide, positioning North Dakota among the first U.S. states to issue its own regulated digital currency.
Named after President Theodore Roosevelt’s famed Rough Riders unit, the coin honors Roosevelt’s historical ties to the state, symbolizing bold innovation and leadership, a fitting parallel for a state entering the digital finance frontier.
Why Roughrider Matters
Governor Kelly Armstrong framed the move as a forward-thinking strategy to modernize North Dakota’s financial ecosystem. “Issuing a stablecoin backed by real money demonstrates that we’re embracing secure and efficient methods of moving money,” he said. This isn’t just a symbolic gesture; it’s a practical step toward instant, interoperable payments for residents and local institutions.
The token will run on Fiserv’s FIUSD digital asset platform, a system designed for interoperability with other stablecoins. Fiserv, which processed an estimated 35 billion merchant transactions in 2022, brings proven infrastructure and white-label stablecoin capabilities to the table, ensuring that Roughrider will scale efficiently for interbank transfers, merchant payments, and even cross-border transactions.
A State-Led Leap Into Digital Finance
Founded in 1919, the Bank of North Dakota is the nation’s only state-owned bank, with just over $10 billion in assets. Through this initiative, the bank will collaborate with local financial institutions to modernize payments, support commerce, and provide a foundation for future digital asset adoption.
Fiserv COO Takis Georgakopoulos framed the launch as a glimpse into the next era of finance. “Payments are moving toward being instant, borderless, and interoperable. North Dakota’s leadership shows how policy can accelerate real progress in digital finance,” he said.
The Bigger Picture
Roughrider will be the second state-issued stablecoin announced in the U.S. this year, following Wyoming’s Frontier Stable Token, which launched across seven blockchains in August. The passage of the GENIUS Act in July has accelerated competition, giving states the regulatory clarity to explore digital assets without risking compliance issues.
While giants like USDT and USDC continue to dominate market capitalization, emerging state-backed stablecoins signal a maturing ecosystem. According to Austin Ballard, partnerships manager at Offchain Labs, the growing interest in launching and utilizing stablecoins proves that these assets are solving real problems for businesses and end-users, setting the stage for a more efficient, scalable digital economy.
Bottom Line
With Roughrider, North Dakota isn’t just launching a stablecoin, it’s setting a precedent. The initiative represents a bold experiment in state-led digital finance, one that could redefine how payments, banking, and commerce operate in the U.S. over the next decade.
