Key notes
- The dollar-backed stablecoin will serve banks and credit unions in North Dakota through Fiserv’s digital asset platform.
- Named after Theodore Roosevelt’s Rough Riders, it aims to promote interbank transactions and global payments.
- Fiserv processes 90 billion transactions annually across 10,000 financial institutions, providing the blockchain infrastructure.
The Bank of North Dakota, in collaboration with fintech giant Fiserv, has announced plans to launch Roughrider Coin, the first state-backed stablecoin in the United States.
According to official reportsRoughrider Coin will launch on the Fiserv digital asset platform, fully backed by the US dollar. It will be available to North Dakota banks and credit unions in 2026, with the goal of simplifying interbank transactions, global payments and merchant adoption.
Governor Kelly Armstrong cited the need for a more efficient financial system as a key driver behind the decision.
“As one of the first states to issue our stablecoin backed by real money, North Dakota is taking a cutting-edge approach to creating a safe and efficient financial ecosystem for our citizens,” North Dakota Governor Kelly Armstrong said.
Fiserv, which currently processes more than 90 billion transactions annually across 10,000 financial institutions, will provide the blockchain infrastructure for the Roughrider coin.
Takis Georgakopoulos, COO of Fiserv, also emphasized the need for blockchain technology to deliver faster digital payments.
“With Roughrider Coin, we are combining the reliability of traditional finance with blockchain innovation to deliver faster, smarter digital payments,” noted Takis Georgakopoulos, COO of Fiserv.
Stablecoin market exceeds $300 billion as US regulations lead to international impact
The launch of Roughrider comes as the global stablecoin market exceeds $313 billion, reflecting a 21.4% increase since July when US President Donald Trump signed the Genius Act.
Total market capitalization of stablecoins (STABLE.C) grows by 21% between July 7 and October 8, 2025 | TradingView
Improving regulatory clarity in the US has led companies to adopt stablecoins globally. Existing players Tether and Circle invested in new Layer-1 chains, Plasma and Arc, to boost USDT and USDC stablecoin interest respectively.
While new players like Trump-backed USD1 added $2.3 billion in market capitalization within three months after launch, nine European banks teamed up to issue a euro-denominated stablecoin in September.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Since market conditions can change rapidly, we encourage you to verify the information yourself and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is an experienced research analyst with a background in supporting several startups and financial institutions in the Web3 space. He has his undergraduate degree in Economics and is currently studying for a Masters in Blockchain and Distributed Ledger Technologies at the University of Malta.
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