Pharos can still tell you how this asset is supposed to work, when it expects to launch, and what sources to watch. Live market, peg, liquidity, and safety surfaces activate only after the first post-launch data sync.
IC unanimously approved bank-to-bank pilot March 25; 10 local banks interested; September 2026 on track; Fiserv contract finalizing
ROUGHRIDER
ND Industrial Commission unanimously approves bank-to-bank use case
10 local banks express pilot interest; risk rated 'low to moderate'; project cost-neutral; September 2026 launch reaffirmed; Fiserv contract finalization underway.
SourceND Industrial Commission to review stablecoin pilot at March 25 meeting
Review includes utilization plan, risk assessment, safeguards, and cost projections. September 2026 launch pending approval.
SourceBank of North Dakota announces Roughrider Coin
North Dakota's first stablecoin, targeting bank-to-bank transactions for state banking system.
SourceNorth Dakota's Bank of North Dakota — the only state-owned bank in the US — cleared its biggest hurdle on March 25 when the Industrial Commission unanimously approved the bank-to-bank use case for Roughrider Coin. Ten local banks have already expressed pilot interest, CEO Don Morgan rates the risk as 'low to moderate,' and the project is expected to be cost-neutral to the state. The coin runs on Solana via Fiserv's infrastructure, backed by USD reserves and 93-day Treasury notes under the GENIUS Act's state-issued stablecoin exemption. It won't be publicly tradeable — this is pure interbank settlement plumbing, voluntary for ND banks and credit unions. September 2026 remains the target, pending Fiserv contract finalization. As the second US state stablecoin after Wyoming's FRNT, Roughrider represents an emerging pattern: state treasurers discovering that blockchain settlement is cheaper than correspondent banking, even when the vote requires a closed-door executive session lasting two and a half hours.
Updated 2026-03-27
Active stablecoins with similar governance, backing, or peg currency.
The Bank of North Dakota has always been an innovator, and today we announced a partnership with Fiserv to develop ND’s own stablecoin, the Roughrider coin. This digital asset, backed by the U.S. dollar, will improve efficiency and quality control in the banking sector, a direct Show more
