Fiserv has launched its digital asset platform for financial institution clients, with Bank of North Dakota’s Roughrider Coin becoming the first stablecoin to go live on the infrastructure.
The dollar-backed stablecoin is designed to enable faster transfers between banks across North Dakota’s interbank network. VersaBank is issuing the coin, Fireblocks is providing tokenisation and digital asset infrastructure, while the Solana blockchain processes transactions.
Bank of North Dakota is using Fiserv’s platform for the coin’s issuance, reserves, custody and settlement as it expands Roughrider Coin across banking and payment processes. More than 90 participating banks and credit unions will be able to access the stablecoin through Commercial Center, Fiserv’s commercial online banking platform, which they already use for conventional interbank transfers.
The initiative is intended to provide financial institutions with a more efficient way to move funds between banks while creating a foundation for broader digital money applications.
VersaBank will also provide custody services for Roughrider Coin, including minting and burning tokens, safeguarding assets and managing the stablecoin’s reserves.
Fiserv’s digital asset platform is designed to support financial institutions, corporates, marketplaces and FinTechs developing stablecoin and other digital asset use cases. These include stablecoin-backed card issuance, cross-border payments, programmable commerce and automated treasury operations.
The platform also supports tokenised deposits and global currency account services, including US dollar accounts for financial institutions operating internationally.
Fiserv head of embedded finance and digital assets Sunil Sachdev said the launch marked a move from digital asset concepts into production deployments with financial institutions.
“By moving from concept to production with leading institutions, we are helping clients unlock new efficiencies in banking and payments while maintaining the trust, security and regulatory standards they expect,” Sachdev said.
Bank of North Dakota CEO Don Morgan said, “Bank of North Dakota proudly works alongside our financial partners to strengthen agriculture, commerce and industry across our state. Launching Roughrider Coin with Fiserv builds on that legacy by giving our partner community banks and credit unions a new tool to move money more efficiently across North Dakota’s interbank network. We are proud to lead this next chapter in banking innovation while supporting the continued strength, resilience and relevance of North Dakota’s financial industry.”
VersaBank founder and president David Taylor added, “VersaBank is proud to partner with Fiserv to build and operate the first product on its digital asset platform. Pairing Fiserv’s scale with VersaBank’s regulated digital asset capabilities gives the industry a trusted foundation to bring stablecoins into established banking and payment systems.”
The launch gives Fiserv a live banking use case for its digital asset infrastructure, while Roughrider Coin provides participating financial institutions with a stablecoin-based mechanism for interbank transfers.
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