North Dakota Partners with Fiserv to Issue a Stablecoin

TL;DR

• North Dakota is joining the stablecoin trend as it is set to issue a stablecoin, thanks to its partnership with Fiserv.

• This will make it the second state in the U.S., after Wyoming, to issue its stablecoin. 

North Dakota to Launch its USD-Backed Stablecoin

The U.S. state of North Dakota has become the latest entity to join the stablecoin wagon, with the state-owned Bank of North Dakota partnering with payments infrastructure giant Fiserv to launch a USD-backed stablecoin.

The stablecoin, dubbed "Roughrider Coin," is designed for financial institutions across the state. It is expected to launch next year and will run on Fiserv’s digital asset platform and plug into its white-label FIUSD system.

The firm revealed in a press release that the stablecoin is set to increase bank-to-bank transactions, encourage global money movement, and drive merchant adoption. This latest development comes four months after Fiserv launched its crypto issuance platform on Solana.

Stablecoins are gaining adoption faster than other aspects of the cryptocurrency market. The passing of the GENIUS ACT in the United States has brought regulation to the stablecoin industry and is now attracting major players, including state governments. 

Thanks to this latest development, North Dakota has become the second state in the U.S. to issue its stablecoin, with Wyoming’s Frontier Stablecoin Token (FRNT) launching in August.