North Dakota is partnering with Fiserv to launch a USD-backed stablecoin. Roughrider Coin, based on President Teddy Roosevelt, will hopefully conduct a pilot launch in 2026.
There aren’t many details available about any technical questions, but that’s fairly unsurprising. It may take months to choose a blockchain for this token, if the last state-run stablecoin is any consideration.
North Dakota’s Stablecoin
Wyoming made headlines last month when it became the first US state to launch a stablecoin, a process that took several months to develop.
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Today, Fiserv, a fintech and payments company, made a joint announcement with the state-owned Bank of North Dakota, claiming that they will also launch a dollar-backed stablecoin soon.
“As one of the first states to issue our own stablecoin backed by real money, North Dakota is taking a cutting-edge approach to creating a secure and efficient financial ecosystem for our citizens. The new financial frontier is here, and The Bank of North Dakota and Fiserv are helping North Dakota financial institutions embrace new ways of moving money,” claimed Governor Kelly Armstrong.
The new stablecoin in question has been dubbed “Roughrider Coin,” after President Teddy Roosevelt’s famous cavalry regiment.
Although Roosevelt was not a North Dakota native, he spent much of his life as a state resident, lending his likeness to the stablecoin.
A Dearth of Web3 Details
Thanks to the partnership with North Dakota’s government and state banks, Fiserv hopes to launch the stablecoin as a pilot in 2026. This soft release will include banks and credit unions, but there aren’t many details available.
Unfortunately, there’s very little concrete information right now, other than the enthusiasm of the participants. Most of the press release consists of quotes and the relevant companies’ backgrounds, not any data pertinent to the token’s capabilities.
This shouldn’t be that surprising, though. Wyoming took months to decide on a blockchain for its stablecoin, and North Dakota is starting from the very beginning too. We may be waiting quite a while before we learn any practical details.
Still, this could be a huge milestone for US crypto adoption. North Dakota is on track to be the second state with its own stablecoin, but it might not be the last.
