---
title: "Roughrider Coin (ROUGHRIDER) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/roughrider-bnd/"
description: "Build-time stablecoin profile for Roughrider Coin (ROUGHRIDER). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Roughrider Coin (ROUGHRIDER)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** pre-launch

## Overview

North Dakota's state-owned bank cleared its biggest hurdle on March 25 for a Solana-based bank-to-bank settlement coin, targeting September 2026.

North Dakota's Bank of North Dakota — the only state-owned bank in the US — cleared its biggest hurdle on March 25 when the Industrial Commission unanimously approved the bank-to-bank use case for Roughrider Coin. Ten local banks have already expressed pilot interest, CEO Don Morgan rates the risk as 'low to moderate,' and the project is expected to be cost-neutral to the state. The coin runs on Solana via Fiserv's infrastructure, backed by USD reserves and 93-day {{term:treasury}}Treasury{{/term}} notes under the GENIUS Act's state-issued stablecoin exemption. It won't be publicly tradeable — this is pure interbank settlement plumbing, voluntary for ND banks and credit unions. September 2026 remains the target, pending Fiserv contract finalization. As the second US state stablecoin after Wyoming's FRNT, Roughrider represents an emerging pattern: state treasurers discovering that blockchain settlement is cheaper than correspondent banking, even when the vote requires a closed-door executive session lasting two and a half hours.

## Collateral

Planned Bank of North Dakota / Fiserv reserve backing with deposits and U.S. Treasury notes with maturities no longer than 93 days, maintained 1:1 with the stablecoin during the bank-to-bank beta

## Peg Mechanism

Pre-launch bank-to-bank payment stablecoin pilot: BND and Fiserv plan a 1:1 USD-denominated token for North Dakota financial institutions, with public access and production contract details still unavailable

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| United States | N/A | N/A |

## Live Data

This is a pre-launch stablecoin profile. Live API data is not available until launch.