BISMARCK, N.D. (KFYR) - The Bank of North Dakota is diving into the cryptocurrency space.

The North Dakota Industrial Commission approved developing the Roughrider Coin as a digital currency.

It’s considered a stablecoin, which is a type of digital asset designed to maintain a stable value by attaching its worth to things traditional assets like the U.S. dollar. It won’t have variable price swings like Bitcoin and Ethereum.

Bank President and CEO Don Morgan said the move comes as the federal government approved legislation setting up the framework for stablecoins.

He said the coin’s primary focus will be to modernize transfers between banks.

“You bring in blockchain, you bring in 24/7, 365-day access. You don’t have to wait for anybody to be open. You get better data security due to t

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