News, data and analysis on tokenized assets, market design and digital economic systems.
The only state-owned bank in the United States, overseen by the North Dakota Industrial Commission, which works through the state's community banks and credit unions rather than against them and from October 2026 oversees Roughrider Coin, a dollar token for payments between them on Solana.
Bank of North Dakota describes itself as the nation's only state-owned bank and says its mission is to partner with the state's financial institutions, not compete with them. It is overseen by the North Dakota Industrial Commission, made up of the governor as chairman, the attorney general and the agriculture commissioner. Its site lists student, farm, business and infrastructure lending programmes alongside correspondent services for banks and credit unions, among them ACH, wires, federal funds, settlement and safekeeping. VersaBank's release of 1 October 2026 says it was chartered in 1919. In October 2026 it launched Roughrider Coin with Fiserv, VersaBank USA and Fireblocks, a permissioned dollar token on Solana for transfers between North Dakota's banks and credit unions. The bank describes its own role as governance in an oversight role and the token as a token deposit; VersaBank, the issuer, calls it a stablecoin. Participating institutions' custody accounts are netted daily against a concentration account held at the bank.
Developments in which Bank of North Dakota is a named party, newest first.
Roughrider Coin, issued by VersaBank's US bank on Fiserv's new digital asset platform, went live on 1 October for payments between North Dakota's banks and credit unions, minted against dollars held in custody accounts and burned on arrival, with the…
A permissioned dollar token issued by VersaBank USA for transfers between North Dakota banks and credit unions, minted against dollars in custody accounts and burned on arrival, with positions netted daily by ACH at the state bank.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
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