The Roughrider Coin stablecoin, launched on October 1, 2025, is a U.S. dollar-backed digital asset designed to modernize interbank settlements for community banks and credit unions in North Dakota. The project is a collaboration between the Bank of North Dakota (BND) and Fiserv, which provides the digital asset platform for the initiative.
The stablecoin is built on the Solana blockchain and utilizes infrastructure and tokenization services from Fireblocks. Versabank acts as the issuer of the asset. The system is designed for regulated financial institutions to facilitate secure, near real-time transactions, though participation for local banks remains voluntary.
Four North Dakota financial institutions participated in the validation phase of the project: First International Bank & Trust, Capital Credit Union, Gate City Bank, and North Star Community Credit Union. Executives from these organizations noted that the coin serves as an additional payment rail for exploring blockchain technology.
BND and Fiserv initially announced their partnership in October 2025, outlining plans to introduce the stablecoin to the state's financial sector throughout 2026. The asset is integrated into existing payment operations to ensure regulatory compliance and maintain established governance standards.
