CoinMeta data: The State Bank of North Dakota ( Bank of North Dakota ) launched a stablecoin pilot – Roughrider Coin – within the implementation window of the Genius Act. This bank is the only state-owned bank in the United States and has moved beyond theoretical discussions to begin testing interbank stablecoin architectures. The purpose of this pilot is to replace the high costs of traditional wire transfers, with transaction fees amounting to about 0.01 US dollars. The pilot was first unveiled on the B3 forum in North Dakota and utilizes the FISERV digital asset platform to facilitate transactions between 61 FDIC insurance institutions. These banks and credit unions have a total assets of approximately 64.9 billion US dollars, with over 90 institutions participating. The bank has completed its first real-time transaction, transferring almost one cent in an instant.