North Dakota's State Bank Moves Forward With Stablecoin Trial

October 7, 2026 - 23:47

The Bank of North Dakota has launched a pilot program to test its own stablecoin, a digital currency tied to the US dollar. The project, called Roughrider Coin, aims to determine whether blockchain based payments can speed up transactions and lower costs for community banks and credit unions across the state.

The Bank of North Dakota is the only state owned bank in the country. It was established more than a century ago to support agriculture, commerce, and local financial institutions. By issuing a stablecoin, the bank hopes to modernize how money moves between institutions without relying on slower traditional settlement systems.

Under the pilot, participating banks and credit unions would use the digital token for internal transfers and other routine operations. Supporters say the model could reduce delays that often stretch into days and cut fees that eat into margins for smaller lenders. The state bank would maintain reserves backing each token, keeping the value stable at one dollar.

Officials stress the program remains in an early testing phase. No retail customers will hold the coin, and the bank has not announced a timeline for a broader rollout. Regulators and lawmakers will watch the results closely, as the effort could serve as a blueprint for other states exploring similar digital currency projects.