North Dakota Plans to Issue the US's Second State-Level Stablecoin, <strong>Roughrider Coin</strong>

BlockBeats News, October 9th, according to Bloomberg, North Dakota is planning to follow in the footsteps of Wyoming to 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 U.S. 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 nation's only state-owned bank, 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 facilitate agricultural lending.