Bank of North Dakota Launches Stablecoin Pilot Program with Local Banks
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Bank of North Dakota launched a pilot program for Roughrider Coin, a stablecoin tied to the U.S. dollar. The program involves four local banks and credit unions, including Gate City Bank. Fidelity National Information Services is also part of the partnership.
From inforum.com
Why it matters
The state-owned Bank of North Dakota is using this stablecoin technology to test how money moves in a changing financial landscape. The pilot aims to study the benefits and potential issues of using this stablecoin financial technology.
From inforum.com
Who's involved
- Bank of North DakotaState-owned bank initiating the pilot program for Roughrider Coin.
- Gate City BankLocal bank participating in the stablecoin pilot program.
- North DakotaState where the stablecoin pilot program is being tested.
- Fidelity National Information ServicesTechnology company providing services to the Bank of North Dakota.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Gate City BankSpeculative
The bank might adjust its operational costs or revenue streams by participating in the stablecoin pilot program.
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The entities involved
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Bank of North Dakota
state-owned and -run financial institution
Nothing else this week.
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Gate City Bank
American mutual bank company
Nothing else this week.