North Dakota: Plans to issue the second state-level stablecoin in the U.S. "Roughrider Coin"

ChainCatcher news, according to Bloomberg, North Dakota plans to follow Wyoming and become the second state in the U.S. to issue a stablecoin. This stablecoin will initially be used for interbank transactions, while the U.S. financial system is also experimenting more broadly with the application of digital tokens. The token is named "Roughrider Coin," after the American volunteer cavalry led by Theodore Roosevelt during the Spanish-American War.

The coin is expected to be launched next year by the Bank of North Dakota, the only state-owned bank in the U.S., and will be issued in partnership with Fiserv Inc. The core business of the Bank of North Dakota is to collaborate with over 80 community banks and credit unions across the state to promote agricultural lending.