North Dakota Debuts First State-Backed ‘Roughrider’ Stablecoin for 2026 Launch

Core Insights - North Dakota is set to launch the "Roughrider Coin," a state-backed stablecoin, in 2026 through the Bank of North Dakota, aiming to enhance the state's digital finance strategy [1][3] - The Roughrider Coin will be fully backed by U.S. dollars and developed in collaboration with financial technology firm Fiserv [1][4] - This initiative positions North Dakota as the second U.S. state to issue a government-backed stablecoin, following Wyoming's earlier initiative [1] Financial Transactions - The stablecoin will initially facilitate interbank financial activities, including loan settlements, overnight lending, and construction advances among community banks and credit unions in North Dakota [2][6] - The primary goal is to enhance the speed and security of financial transactions within the local banking system [2][6] Historical Significance - The coin is named in honor of former U.S. President Theodore Roosevelt and his Rough Riders regiment, reflecting Roosevelt's historical connection to North Dakota [4] - The design and naming of the token are inspired by Roosevelt's legacy in the state, where he lived and contributed to the establishment of the Theodore Roosevelt National Park [4] Technological Framework - The Roughrider Coin will utilize Fiserv's new FIUSD digital asset platform and ensure interoperability with other stablecoins through technology from Paxos Trust Co. and Circle Internet Group Inc. [5][4] - The Bank of North Dakota aims to leverage its 106-year history to lead in the banking and fintech space, adapting to new financial technologies [6] Future Plans - While the initial focus is on institutional transactions, the Bank of North Dakota may consider offering stablecoin-based deposit accounts to clients in the future [7][6] - Unlike Wyoming's stablecoin, which is aimed at broader consumer use, the Roughrider Coin will not be available for retail payments in the near term [6]