The US state of North Dakota joins the stableecoin trend, with the state-owned Bank of North Dakota, which cooperates with the paying infrastructure giant Fiserv (FI) to launch a US dollar-backed token aimed at financial institutions throughout the state.
Token, called “Roughrider Coin”, is expected to roll out next year and will run on Fiserv’s digital asset platform and connect its White-label FIUSD system, a stablecoin network designed for regulated banking environments.
The token aims to “increase bank-to-bank transactions, encourage global money movement and operate trading,” companies said in a press release.
The news follows Fiservs June -Input with its Crypto -Issuing Platform at Solana to the rapidly growing stablecoin sector. Stableecoins are increasingly used as a faster, cheaper and programmable alternative to moving money on top of blockchains. The asset class struggled to $ 293 billion and expanded approx. 70% in one year. The rapid growth was spurred on by the brilliant law signed in the law of US President Donald Trump in July, who set a federal framework for stableecoin issuers and cleared a legal path for financial institutions to use technology.
With its stableecoin plan, North Dakota joins Wyoming as the latest US state experimenting with crypto. Wyoming has deployed his state-issued Frontier Stable token earlier this year, and it is currently in a test phase.
Fiserv treats over 90 billion transactions a year for 10,000 financial institutions and aims to place themselves as a bridge between traditional economy and blockchain tech.
Read more: StableCOin Surge could trigger $ 1T output from new market banks: Standard Charter
