North Dakota is preparing to introduce a digital currency called Roughrider Coin, backed by the US dollar.
According to a press release on October 8, this new initiative is being developed by the state’s public bank in collaboration with Fiserv, a payment technology company.
Roughrider Coin is expected to become available in 2026, but it will not be aimed at the general public right away. Instead, local banks and credit unions will be the first to use it.
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The goal is to make bank-to-bank transactions easier, help businesses accept payments, and support international transfers.
The stablecoin takes its name from Theodore Roosevelt’s Rough Riders, a cavalry group he led during the Spanish-American War. Roosevelt, who was president from 1901 to 1909, spent part of his life in North Dakota after his time in office.
Fiserv, the company helping build the stablecoin’s platform, handled about 35 billion merchant transactions in 2022. In June, it launched a system allowing banks to issue their own branded stablecoins.
Roughrider Coin will use Fiserv’s system and is expected to work alongside other tokens that are also backed by real money.
Governor Kelly Armstrong stated that issuing a digital currency backed by actual US dollars demonstrates the state’s forward-thinking approach to creating a safer and more effective financial system.
On September 25, Cloudflare announced plans to introduce a new digital currency called NET Dollar. What is it? Read the full story.
