North Dakota has moved to create its own state-backed stablecoin, a step that aims to bring banks and public finance closer to token-based money.
Fiserv, which supports about 10,000 financial institutions and processes more than 90 billion transactions a year, will provide the underlying infrastructure.
Officials say they are aiming for a launch in 2026. That date is a target, not a guarantee. Approval from the North Dakota Industrial Commission is required, and regulators will assess legal and compliance details before any rollout proceeds.
Some measures will remain internal at first; the early phases appear focused on bank-to-bank uses rather than consumer-facing wallets or retail payments.
The initial use cases include interbank transfers, loan disbursements, and overnight lending between institutions. Merchant use and customer-facing services were not confirmed, meaning most residents likely will not notice changes in daily banking right away.
The state’s pitch is that a ledger-based token could shorten settlement times and make certain transfers more direct. But the first implementations look to be limited to institutional rails.
Local observers and some banking voices have flagged risks. One issue raised is the potential for deposits to shift if more funds are moved into digital token accounts.
Another is market competition: major stablecoins like USDC and USDT already dominate widespread trading and merchant links.
Interoperability with other blockchains and tokens will matter, and FIUSD’s technical bridges will be tested if Roughrider Coin expands beyond internal bank operations.
Regulatory steps are the immediate milestone. The Industrial Commission’s timetable and any conditions it adds will shape whether the project keeps its 2026 target.
Roughrider Coin is a focused experiment for now. Based on reports, it aims to modernize certain institutional flows without replacing existing deposit accounts or the cash system.
Featured image from Hertz, chart from TradingView
