North Dakota To Issue ‘Roughrider’ Stablecoin Following Wyoming’s Footsteps

Boluwatife Adeyemi
5 hours ago Updated 4 hours ago
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An image to represent North Dakota's 'roughrider stablecoin'

Highlights

  • North Dakota will issue the stablecoin to facilitate bank-to-bank transactions.
  • The stablecoin will be named 'roughrider coin' after the U.S. voluntary military regiment.
  • The stablecoin will be available from next year.

North Dakota is set to become the second U.S. state to issue a stablecoin, named ‘Roughrider’, following in the footsteps of Wyoming. The proposed Roughrider stablecoin comes as more institutions and firms move to launch their stablecoin, thanks to the passage of the GENIUS Act.

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North Dakota To Launch Roughrider Stablecoin

According to a press release, the Bank of North Dakota will launch the stablecoin in partnership with Fiserv and will be fully backed by U.S. dollars. The state has named the stablecoin ‘Roughrider Coin’ in honor of Theodore Roosevelt and his Rough Riders.

North Dakota plans to utilize the Roughrider stablecoin to enhance bank-to-bank transactions, facilitate global movement, and promote merchant adoption. Meanwhile, the stablecoin will be available to banks and credit unions in the state by next year.

The state will become the second U.S. state after Wyoming to issue a stablecoin. As CoinGape reported, Wyoming launched its Frontier Stable Token (FRNT) in August on seven networks, including Solana and Ethereum. Fiserv didn’t reveal what networks the Roughrider stablecoin may launch on. However, the firm expects that the coin will be interoperable with other coins.

Commenting on this move, North Dakota’s Governor Kelly Armstrong remarked that the state is taking a cutting-edge approach to create a “secure and efficient financial ecosystem” for its citizens, as one of the first states to issue its stablecoin. The governor declared that the “new financial frontier is here” and that they are embracing new ways of moving money with the Roughrider coin.

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New Era Of Payments With Stablecoins

Meanwhile, Fiserv COO Takis Georgakopoulos remarked that the market is entering a new era where payments are “instant, interoperable, and borderless. He added that with the Roughrider stablecoin, they are bringing together the “reliability of traditional finance and the innovation of blockchain to deliver faster and smarter digital payments. Fed Governor Chris Waller also recently backed stablecoins as a tool for cheaper global payments.

Stablecoins have gained greater adoption since the U.S. President Donald Trump signed the GENIUS Act, which regulates stablecoins. Don Morgan, Chief Executive Officer of the Bank of North Dakota, noted that the development of the Roughrider stablecoin capitalizes on recent changes in federal law and ensures the “continued health, resilience, and relevancy of the North Dakota financial industry for its citizens.”

In addition to states, more companies and firms are looking to launch their own stablecoins. Notably, Bank of America and Citigroup have already hinted at launching their stablecoins. Meanwhile, crypto platforms such as Hyperliquid and MetaMask have recently launched their native stablecoins.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.