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Fiserv platform goes live with North Dakota stablecoin

Fiserv’s digital asset platform is live with bank clients, using North Dakota’s dollar-backed Roughrider Coin for interbank transfers across more than 90 institutions.

By Web3 Hub Newsroom2 min read

Fiserv platform goes live with North Dakota stablecoin

Fiserv said Oct. 1 its digital asset platform is live with financial institution clients, with North Dakota’s dollar-backed Roughrider Coin as its first use case for bank-to-bank transfers. The launch puts Fiserv’s issuance, custody and settlement infrastructure into production for more than 90 participating banks and credit unions, according to the company’s platform launch announcement.

Who issues Roughrider Coin, and where do transactions run?

VersaBank issues the coin and provides custody services, while transactions run on the Solana blockchain, Fiserv said. Fireblocks supplies digital asset infrastructure and tokenization services. Fiserv said participating institutions can access the coin through Commercial Center, its commercial online banking system.

How will the platform support bank transfers?

Fiserv provides issuance, reserve, custody and settlement infrastructure for the state’s stablecoin, according to the company. Bank of North Dakota said the coin is intended to make money movement across the state’s interbank network more efficient; participating banks and credit unions can use it for bank-to-bank transactions.

Banking Dive reported that Fiserv’s platform went live this week and that the 90 institutions would have access to the coin. Its report on the launch also noted that Fiserv’s announcement did not mention the company’s previously planned FIUSD stablecoin.

What other uses has Fiserv outlined?

The company said the platform can support stablecoin card issuance, cross-border payments, programmable commerce and treasury automation, as well as tokenized deposits and global currency accounts. Those are listed capabilities; Fiserv did not announce additional live products or a timeline for them in the launch release.

Fiserv described Roughrider Coin as the platform’s first live use case. The company has not announced a date for adding another asset or for launching FIUSD.

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