BISMARCK — The Bank of North Dakota and its core banking services provider, Fiserv, announced a partnership Wednesday, Oct. 8, to develop the state's own stablecoin, which will be called the Roughrider coin.

According to J.P. Morgan, "A stablecoin is a cryptocurrency whose value is designed to be stable, typically by being pegged to a fiat currency like the U.S. dollar. On paper, they aim to offer the benefits of cryptocurrency — high-speed, low-cost and decentralized transactions — with the stability of traditional assets."

Fiserv COO Takis Georgakopoulus said stablecoins allow for essentially instantaneous transactions as compared to existing options like wire transfers and ACH transfers.

Wire transfers can typically be accomplished in the same day. ACH transfers can take 1-3 busines

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