North Dakota to Launch Roughrider Coin, First US State-Backed Stablecoin
Bank of North Dakota and Fiserv Launch First US State-Backed Stablecoin
- Bank of North Dakota, in partnership with Fiserv, plans to launch Roughrider Coin, the first state-backed stablecoin in the US.
- Roughrider Coin will be fully backed by US dollars and available to North Dakota banks and credit unions in 2026.
- The stablecoin aims to streamline bank-to-bank transactions, global payments, and merchant adoption.
- Governor Kelly Armstrong emphasized the importance of creating an efficient financial system for North Dakota citizens.
- Fiserv, processing over 90 billion transactions annually, will provide blockchain architecture for Roughrider Coin.
- COO Takis Georgakopoulos highlighted the role of blockchain in enabling faster digital payments.
Stablecoin Market Growth Amid US Regulatory Developments
- The global stablecoin market has surpassed $313 billion, marking a 21.4% increase since July after US regulatory advancements.
- Regulatory clarity in the US has boosted corporate adoption of stablecoins globally.
- Major players like Tether and Circle are investing in new Layer-1 chains to enhance stablecoin utility.
- New entrants such as Trump-backed USD1 added $2.3 billion in market capitalization shortly after launch.
- Nine European banks launched a euro-denominated stablecoin in September.
