North Dakota to Become Second State to Issue Stablecoin With ‘Roughrider’ Token

North Dakota plans to follow Wyoming to become only the second state to issue a stablecoin, in this case to initially facilitate bank-to-bank transactions while the digital tokens are being more widely experimented with in the US the financial system.

The token, named the “Roughrider Coin” after the US volunteer military regiment led by Theodore Roosevelt during the Spanish-American War, is slated to be launched next year by the Bank of North Dakota - the only state-owned bank in the US - through a partnership with Fiserv Inc. The bank’s core business is partnering with the 80-plus community banks and credit unions across the state to facilitate agricultural loans.