Global payments provider Fiserv has officially launched its Digital Asset Platform (DAP) with financial institution clients, marking the initial commercialisation of stablecoin-enabled banking and payments for the vendor. The platform’s first live deployment supports Roughrider Coin, a US dollar-backed stablecoin developed for the Bank of North Dakota. This digital currency is specifically designed to optimise and accelerate fund transfers across the state’s interbank network.
The initiative operates through a collaboration of industry partners, each managing distinct technical and administrative roles. VersaBank serves as the official issuer of the Roughrider Coin, while Fireblocks provides the underlying secure digital asset infrastructure and tokenisation services. All transactions are processed and settled on the Solana blockchain.“The launch of our digital asset platform is an important milestone for Fiserv and the financial institutions we serve,” says Sunil Sachdev, Head of Embedded Finance and Digital Assets at Fiserv. “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.”
In launching its Roughrider Coin support, Fiserv has pivoted from an initial plan to launch its own FIUSD stablecoin, potentially working with Circle and Paxos. While Fiserv still plans to introduce FIUSD at some point in the future, it’s not saying when.
Participating banks and credit unions will manage the Roughrider Coin through Commercial Center, Fiserv’s existing commercial online banking platform. Because local financial institutions already rely on this system for conventional interbank transfers, the integration allows them to conduct stablecoin transactions through their standard, everyday operational channels.
To facilitate the rollout, the Bank of North Dakota is using Fiserv’s DAP infrastructure to handle the issuance, reserve management, custody, and settlement of the Roughrider token. The dollar-backed stablecoin is being deployed to provide more than 90 participating banks and credit unions across the state with a faster, more efficient method for bank-to-bank transactions while establishing a technical foundation for potential future digital asset use cases.
“Bank of North Dakota proudly works alongside our financial partners to strengthen agriculture, commerce and industry across our state,” says Don Morgan, CEO of Bank of North Dakota. “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, a business-to-business digital banking and digital asset technology provider, issues Roughrider Coin and provides custody services. Its role includes minting, burning, custody and reserve asset management – core functions that enable financial institutions to operate stablecoins within a nationally regulated framework.
“VersaBank is proud to partner with Fiserv to build and operate the first product on its digital asset platform,” says David Taylor, Founder and President, VersaBank. “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.”
Roughrider Coin isn’t Fiserv’s only involvement with stablecoins. The vendor is also a member of the Open Standard consortia that just went live with its Open USD stablecoin.
Subscribe to our newsletter
