North Dakota has moved to create its own state-backed stablecoin, a step that aims to bring banks and public finance closer to token-based money.

Reports have disclosed the project will be called Roughrider Coin and that it is being built in partnership with the Bank of North Dakota and payments firm Fiserv.

State And Partner Details

According to the partners, Roughrider Coin will be fully backed one-to-one by US dollar reserves and issued on Fiserv’s FIUSD platform.

Fiserv, which supports about 10,000 financial institutions and processes more than 90 billion transactions a year, will provide the underlying infrastructure.

Based on market coverage, the Bank of North Dakota will oversee issuance and custody while the state’s Industrial Commission will review and sign off on the pro

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