North Dakota to become a second state to issue stablecoin with 'roughrider' token

(Bloomberg) -Noord-Dakota plans to follow Wyoming to become only the second state to issue a stableecoin, in this case to facilitate bank-to-bank transactions initially, while digital signs experiment more in the US in the US. The sign, called the ‘Roughrider Coin’ after the US Voluntary Military Regiment led by Theodore Roosevelt during the Spanish-American War, is launched by the Bank of North Dakota next year-the only bank in the US-by Fiserv Inc. The core business is, together with the 80-plus community banks and credit companies on the state to phase the state to phase agricultural loans. “We use our 106-year history to stand up and be a leader in banking, the FinTech space for North Dakota,” Bank of North Dakota CEO Don Morgan said in an interview. “We see that it affects the industry and still affects the industry, which is why we get involved.” The bank will be one of the first institutions to have a stableecoin issued using Fiserv’s recently announced Digital Asset Platform, which plans to technology from Paxos Trust Co. and Circle Internet Group Inc. to use to reach out to the tokens. The roughrider coin will be fully supported by dollars. “As one of the first states to have issued our own stablecoin through real money, North Dakota takes a leading approach to the creation of a safe and effective financial ecosystem for our citizens,” North Dakota Governor Kelly Armstrong said in a statement. Initially, the plan for the stableecoin to be used to move money between banks in the state and credit unions for transactions such as loan advances, overnight loans, construction advances and more, Morgan said. Later, the bank may consider offering stableecoin deposits to customers. The North Dakota plan comes weeks after Wyoming introduced the border stable token. Unlike the frnt sign of Wyoming, Bank or North Dakota does not see its currency used for consumer payments in the near future, according to Morgan. The state stable coins coins come because dozens of the signs are issued by companies following the transition of the first US regulation to regulate the sector in July. Since then, a series of crypto firms have also tried to get banking charges, while the payment firms Stripe Inc., PayPal Holdings Inc., Visa Inc. and MasterCard Inc. deeper into the digital assets sector. “It is very difficult to see how it disappears, given how friendly the regulatory environment is and how some of these very well -funded Fintechs have every incentive to keep promoting space,” said Fishorga Georgakopoulos, Fiserv’s chief operating officer. “In my opinion, it is much more likely that we will see more adoption.” While Georgakopoulos has an optimistic outlook on technology in general, he notes that there are still several barriers to widespread acceptance. The clearest obstacle is to draw up consumer protection rules, such as the Giants Visa and MasterCard offering payments for card payments, he noted. Roosevelt had a deep connection to North Dakota, and began the future US president’s move to the Badland in the 1880s to Ranch and Hunt. His custody contributed to leading the establishment of Theodore Roosevelt National Park. North Dakota is often called the Rough Rider State. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP