A state-issued stablecoin is now in development in North Dakota.

The state-owned Bank of North Dakota (BND) has partnered with payments giant Fiserv to launch Roughrider Coin in 2026.

This US dollar-pegged token promises instant, secure transfers for local banks and credit unions, slashing days-long waits to seconds.

Fully backed by reserves, the coin will honor Theodore Roosevelt’s legendary Rough Riders cavalry.

BND President Don Morgan says the coin is designed to capitalize on recent changes in federal law and secure the “continued health, resilience, and relevancy of the North Dakota financial industry for its citizens.”

Governor Kelly Armstrong says the “new financial frontier is here,” with the Bank of North Dakota and Fiserv poised to help North Dakota’s financial institutions embrace new ways of moving money.

North Dakota is the second US state to develop a custom stablecoin.

Wyoming’s Frontier Token is already live on seven blockchains, designed to tackle broad uses like instant payments, tax refunds, vendor settlements and public disbursements.