Solana News Today: North Dakota's Roughrider Coin: Reviving Legacy with Blockchain Leadership

The Bank of North Dakota (BND) has announced plans to launch the state's first stablecoin, the "Roughrider Coin," in 2026, marking a significant step in the U.S. state's digital finance strategy. The project, developed in partnership with financial technology firm Fiserv, aims to streamline interbank transactions and enhance the efficiency of financial services for North Dakota's community banks and credit unions. The stablecoin will be fully backed by U.S. dollars and operate on Fiserv's FIUSD digital asset platform, leveraging infrastructure from Paxos and Circle Internet Group to ensure interoperability with major blockchain networks.

Governor Kelly Armstrong, who chairs the North Dakota Industrial Commission, emphasized the initiative's potential to create a "secure and efficient financial ecosystem" for the state. "As one of the first states to issue our own stablecoin backed by real money, North Dakota is taking a cutting-edge approach," Armstrong stated, highlighting the Roughrider Coin's alignment with the state's historical commitment to agricultural and industrial finance. The stablecoin's name honors Theodore Roosevelt and the Rough Riders, a volunteer military unit he led, reflecting the state's cultural heritage.

The Roughrider Coin is designed to facilitate faster, lower-cost transactions between financial institutions, including loan settlements, overnight lending, and construction advances. Rick Geloff, BND's executive vice president, noted that the stablecoin will primarily serve as a backend tool for banks, enabling near-instant settlements compared to traditional methods that can take days. While the immediate focus is on institutional use, the bank may explore expanding the coin's applications to consumer banking in the future, such as stablecoin deposit accounts.

The launch follows the passage of the federal GENIUS Act in July 2025, which established a regulatory framework for stablecoins and encouraged broader adoption by financial institutions. Fiserv's COO, Takis Georgakopoulos, highlighted the act as a catalyst for innovation, stating that the partnership with BND positions the state to lead in "instant, interoperable, and borderless" payments. The GENIUS Act has also spurred activity in other states, including Wyoming, which launched its Frontier Stable Token earlier this year.

BND President Don Morgan emphasized the bank's role in fostering financial resilience. "We're leveraging our 106-year history to stand up and be a leader in the banking and fintech space for North Dakota," Morgan said, noting the bank's commitment to adapting to emerging technologies while supporting local financial institutions. The project requires approval from the North Dakota Industrial Commission before a pilot program can begin, with a phased rollout expected in 2026.

The Roughrider Coin's technical infrastructure is built on Solana's blockchain, chosen for its high-speed, low-cost transactions. Fiserv's FIUSD platform integrates with existing banking systems, allowing financial institutions to access stablecoin functionality without additional costs. The platform's compliance features, including fraud monitoring and risk management tools, align with regulatory requirements and address concerns about consumer protection.

Analysts suggest that stablecoins could disrupt traditional payment systems by offering 24/7 availability and reducing reliance on legacy networks like SWIFT or ACH. However, challenges remain, including the need for standardized consumer protections and broader merchant adoption. Dan McGonegle of accounting firm Crowe noted that lower transaction fees for stablecoins could incentivize retailers to accept them, accelerating mainstream use.

North Dakota's initiative joins a growing trend of state-level experimentation with stablecoins. Wyoming's Frontier Stable Token, launched in August 2025, and North Dakota's Roughrider Coin represent a shift toward leveraging blockchain technology for financial infrastructure. As the sector evolves, the success of these projects may influence federal and state regulatory approaches, shaping the future of digital finance in the U.S.

Source: [1] North Dakota Monitor (https://northdakotamonitor.com/2025/10/08/bank-of-north-dakota-to-launch-states-first-stablecoin-known-as-roughrider-coin/)

[2] Coindesk (https://www.coindesk.com/business/2025/10/08/north-dakota-to-issue-stablecoin-with-fiserv-as-digital-dollar-trend-expands)

[3] CoinGape (https://coingape.com/north-dakota-to-issue-roughrider-stablecoin-following-wyomings-footsteps/)

[4] Blockonomi (https://blockonomi.com/north-dakota-launches-roughrider-stablecoin-after-wyomings-debut/)

[5] Detroit News (https://www.detroitnews.com/story/business/2025/10/08/north-dakota-to-become-second-state-to-issue-stablecoin-with-roughrider-token/86584244007/)

[6] Yahoo Finance (https://finance.yahoo.com/news/north-dakota-debuts-first-state-215820420.html)

[7] Tekedia (https://www.tekedia.com/fiservs-fiusd-stablecoin-platform-launched-on-solana/)

[8] FinTech Magazine (https://fintechmagazine.com/articles/exploring-fiservs-entry-into-stablecoin-market-with-fiusd)