North Dakota Bank Partners With Fiserv to Launch Roughrider Coin
The Bank of North Dakota is collaborating with Fiserv to introduce "Roughrider Coin," a U.S. dollar-backed stablecoin targeting financial institutions in North Dakota.
- Roughrider Coin will launch next year, utilizing Fiserv’s digital asset platform and FIUSD system, tailored for regulated banking environments.
- The token aims to enhance bank transactions, promote global money movement, and encourage merchant adoption.
- This initiative aligns with the growing stablecoin market, which reached $293 billion, expanding by approximately 70% in the past year.
- The growth was supported by the GENIUS Act, facilitating stablecoin issuance and adoption among financial institutions.
- North Dakota follows Wyoming in exploring state-issued stablecoins, with Wyoming testing its Frontier Stable Token.
- Fiserv processes over 90 billion transactions annually, positioning itself as a bridge between traditional finance and blockchain technology.