North Dakota To Launch Roughrider State Stablecoin
North Dakota To Launch State Stablecoin In 2026, Following Wyoming’s Lead
North Dakota has announced plans to launch its first state-backed stablecoin, Roughrider Coin, in 2026, through a partnership between the Bank of North Dakota and payments technology giant Fiserv. The move positions North Dakota as the second U.S. state to issue a digital currency, following Wyoming’s Frontier Stable Token (FRNT) earlier this year.
U.S. States Compete In the Race To Issue Digital Currencies
The state’s announcement, made on Wednesday, comes just months after Wyoming launched FRNT in August — the first government-issued stablecoin in U.S. history. Together, the two launches highlight the growing interest among U.S. states in exploring blockchain-based payment systems as alternatives to private stablecoins like USDT and USDC, which currently dominate the $170 billion market.
Both states have embraced “frontier” branding to reflect their pioneering history. North Dakota’s Roughrider Coin pays tribute to Theodore Roosevelt and his iconic Rough Riders cavalry unit, while Wyoming’s token adopts the name “Frontier.” The thematic alignment reinforces their shared identity as bold innovators willing to experiment with the future of money.
“As one of the first states to issue a stablecoin backed by real money, North Dakota is taking a cutting-edge approach to building a secure and efficient financial ecosystem,”
said Governor Kelly Armstrong.
“The new financial frontier is here, and with Fiserv and the Bank of North Dakota, we’re helping our state’s financial institutions embrace next-generation payments.”
Fiserv To Power Roughrider Coin Infrastructure
The Roughrider Coin will be fully backed by U.S. dollars and run on Fiserv’s digital asset platform, unveiled in June alongside the firm’s white-label stablecoin, FIUSD. The coin will be available to North Dakota banks and credit unions, aiming to enhance bank-to-bank transactions, cross-border payments, and merchant adoption.
Fiserv, which processes over 90 billion transactions annually across 10,000 financial institutions and 6 million merchants, provides the robust infrastructure needed to drive stablecoin adoption among traditional financial players.
“We’re entering a new era where payments are instant, interoperable, and borderless,”
said Takis Georgakopoulos, COO of Fiserv.
“With Roughrider Coin, we’re combining the reliability of traditional finance with the innovation of blockchain to deliver faster and smarter digital payments.”
Wyoming: The First Mover In State-Issued Stablecoins
Wyoming launched its Frontier Stable Token (FRNT) through the Wyoming Stable Token Commission, chaired by Governor Mark Gordon. FRNT is backed by U.S. dollars and short-term Treasuries, with a legislatively mandated 2% overcollateralization, offering additional security beyond typical 1:1 pegging models.
“For years, Wyoming has led the nation in blockchain and digital asset legislation, passing over 45 bills since 2016,”
Gordon said at the FRNT launch.
“Today, Wyoming reaffirms its commitment to financial innovation and consumer protection.”
FRNT launched on seven blockchains, including Ethereum, Avalanche, Polygon, Base, Solana, Optimism, and Arbitrum, through token issuance partner LayerZero.
The token will be listed on Kraken (Solana) and Rain’s Visa-integrated card platform (Avalanche) in the coming months.
North Dakota’s Approach: Private Infrastructure, Public Ambition
Unlike Wyoming, North Dakota is deploying its stablecoin on Fiserv’s proprietary digital asset platform rather than public blockchains. The Roughrider Coin will be interoperable with other tokens on the FIUSD platform, though the specific blockchain architecture has not yet been disclosed.
State-issued stablecoins like Roughrider Coin represent a distinct model from private alternatives such as USDT and USDC, offering government backing, regulatory oversight, and potentially higher consumer trust.
However, questions remain regarding scalability, liquidity, and market adoption. Competing against well-established private stablecoins will likely require strategic incentives and real-world use cases to encourage adoption across banks and businesses.
A Step Toward The “Digital Dollar Era”
The rise of state-issued stablecoins reflects growing momentum toward U.S. digital currency innovation, as federal efforts around a Central Bank Digital Currency (CBDC) remain stalled.
By introducing Roughrider Coin, North Dakota joins Wyoming in testing state-level monetary infrastructure, potentially shaping the blueprint for future digital dollar systems.
If successful, the initiative could encourage other U.S. states to launch their own regulated stablecoins — accelerating public-sector adoption of blockchain technology within the American financial system.
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