Launching on the Fiserv digital asset platform, Roughrider coin will help North Dakota financial institutions navigate a new financial frontier
MILWAUKEE--(BUSINESS WIRE)--Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, in partnership with the Bank of North Dakota, today announced the Roughrider coin, North Dakota’s first stablecoin. Fully backed by U.S. dollars, the Roughrider coin will be the first U.S. state stablecoin to launch on the Fiserv digital asset platform.
Honoring Theodore Roosevelt and his Rough Riders, the Roughrider coin will aim to increase bank-to-bank transactions, encourage global money movement, and drive merchant adoption. The coin will be available to banks and credit unions in North Dakota in 2026.
The Fiserv digital asset platform, announced in June along with a new white-label stablecoin, FIUSD, presents Fiserv customers with access to a new, more efficient, and interoperable digital asset payment service for their banking and payment flows. The Roughrider coin will leverage the FIUSD digital asset platform and is expected to be interoperable with other coins.
“As one of the first states to issue our own stablecoin backed by real money, North Dakota is taking a cutting-edge approach to creating a secure and efficient financial ecosystem for our citizens,” said Governor, Kelly Armstrong. “The new financial frontier is here, and The Bank of North Dakota and Fiserv are helping North Dakota financial institutions embrace new ways of moving money with the Roughrider coin.”
As a trusted infrastructure provider with approximately 10,000 financial institution clients and six million merchant locations processing 90 billion transactions annually, Fiserv understands the opportunities and challenges of digital asset integration for both banks and merchants and is uniquely positioned to drive the adoption of bank-friendly stablecoins, and Roughrider, among the payments industry and North Dakota’s financial institutions.
"We're entering a new era where payments are instant, interoperable, and borderless," said Takis Georgakopoulos, COO at Fiserv. "With Roughrider Coin, we're bringing together the reliability of traditional finance and the innovation of blockchain to deliver faster and smarter digital payments. North Dakota's vision and leadership in launching this initiative show how forward-thinking policy can drive real progress in digital finance. We are pleased to be selected as their partner."
"We have a 106-year history of commitment to North Dakota agriculture, commerce, and industry through our financial institution partnerships,” said Don Morgan, chief executive officer of the Bank of North Dakota. "The development of the Roughrider coin reflects that commitment, capitalizes on recent changes in federal law, and ensures the continued health, resilience, and relevancy of the North Dakota financial industry for its citizens.”
For more information on FIUSD stablecoin, visit https://bit.ly/FIUSD.
About Bank of North Dakota
Bank of North Dakota (BND) is the only state-owned bank in the United States. Since 1919, its mission to deliver quality, sound financial services that promote agriculture, commerce and industry has driven numerous initiatives for the residents of North Dakota to improve quality of life and the state’s economy. With just over $10 billion in assets, the Bank acts as a growth catalyst for North Dakota through partnering with the state’s financial institutions, leads special Legislative programs to fulfill on state strategies, helps North Dakota kids through secondary education, and is there when needed during hardships and disasters.
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, moves more than money. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover®, the world’s smartest point-of-sale system and business management platform. Fiserv is a member of the S&P 500® Index, one of TIME Magazine’s Most Influential Companies™, and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.
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Contacts
Media Relations:
Melissa Moritz
VP, Corporate Communications
Fiserv, Inc.
+1 516-410-1188
Melissa.Moritz@fiserv.com
Bank of North Dakota:
Janel Schmitz
Communications and Marketing Manager
+1 701-328-5880
janelschmitz@nd.gov