Fiserv's digital asset platform went live on Oct. 1, with Bank of North Dakota's Solana-based Roughrider Coin as its first production use case. More than 90 state banks and credit unions can now access the dollar-backed token, which VersaBank USA issues and Fireblocks secures. The token is restricted to financial institutions and unavailable to retail investors.
Fiserv's digital asset platform is now running in production, and Bank of North Dakota's Roughrider Coin is the first stablecoin to use it. More than 90 banks and credit unions in North Dakota can access the dollar-backed token through Commercial Center, the same system they already use for commercial banking and interbank money movement.
VersaBank issues the token, Solana settles it
VersaBank USA, a national bank regulated by the Office of the Comptroller of the Currency, issues Roughrider Coin and handles minting, burning, custody and reserve asset management, the bank confirmed. Every token is backed one-to-one by U.S. dollars, Bank of North Dakota says. Transactions settle on Solana, which uses Token-2022 controls, including freeze and clawback functions, while Fireblocks supplies the multi-party computation wallets institutions use to hold the asset.
Access limited to financial institutions
Bank of North Dakota describes Roughrider Coin as a permissioned token built exclusively for bank-to-bank transactions among the state's community banks and credit unions — members of the public cannot buy, hold or invest in it. According to Bank of North Dakota: "token deposit for financial institutions" is how the bank currently describes the asset, while Fiserv and VersaBank call it a stablecoin. Fiserv has not disclosed how much Roughrider Coin has been issued or the value of settlements processed since launch.
A bigger stablecoin push
The launch follows Fiserv's original digital asset platform announcement in June 2025, when the company unveiled plans for its own FIUSD stablecoin alongside infrastructure from Paxos and Circle. Fiserv serves roughly 10,000 financial institutions and six million merchant locations, and the current platform can also support stablecoin card issuance, cross-border payments and treasury automation, though Fiserv hasn't set a timetable for rolling out those other use cases.
Bank of North Dakota will detail the rollout next week: a Roughrider Coin press conference is scheduled for Oct. 5, followed by a dedicated panel on Oct. 7 at its B3 Forum in Medora.
Source: crypto.news
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