Fiserv and the Bank of North Dakota announced the launch of Roughrider Coin, the first US state-backed stablecoin fully collateralized by US dollars.
Scheduled to debut in 2026, Roughrider Coin will run on Fiserv’s digital asset platform, with the goal of modernizing interbank transactions, enhancing global payments, and encouraging merchant adoption across the state.
The currency will be available to banks and credit unions in North Dakota, helping them navigate what officials described as a “new financial frontier.”
“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,” said Governor Kelly Armstrong.
The initiative builds on Fiserv’s existing infrastructure, which supports 10,000 financial institutions and six million merchant locations, processing more than 90 billion transactions annually.
Roughrider Coin will leverage the company’s stable FIUSD platform, ensuring interoperability and efficiency across digital payment systems.
“We combine the reliability of traditional finance with blockchain innovation,” said Takis Georgakopoulos, Chief Operating Officer at Fiserv.
The currency is named in honor of Theodore Roosevelt’s Rough Riders and will aim to increase interbank transactions, encourage global money movement, and encourage merchant adoption.