Milwaukee-based Fiserv announced Oct. 1 that its digital asset platform was live with financial institutional clients, and Bank of North Dakota’s Roughrider Coin is the first product to run on it.
The dollar-backed stablecoin is coming to Solana and giving the state’s more than 90 banks and credit unions a new way to transfer money between them.
Roughrider Coin runs on Solana inside Fiserv’s banking platform
The Bank of North Dakota is using Fiserv’s issuance, reserve, custody and settlement infrastructure enables the coin to be deployed in government banking and payments workflows. Participating institutions will access it through Commercial Center, the online commercial banking system that Fiserv customers already use for traditional interbank transfers.
VersaBank will issue and service Roughrider Coin, a task that includes minting, burning and managing reserve assets. Fireblocks provides digital asset infrastructure and tokenization services, while transactions are processed on the Solana blockchain.
Sunil Sachdev, head of embedded finance and digital assets at Firsev, said the company “helps customers unlock new efficiencies in banking and payments” while meeting the security and regulatory standards they expect.
Bank of North Dakota CEO Don Morgan called the coin “a new tool to move money more efficiently through North Dakota’s interbank network.”
VersaBank founder and chairman David Taylor described Fiserv’s scale, coupled with his company’s regulated capabilities, as a “trusted foundation for introducing stablecoins into established banking and payments systems.”
Roughrider Coin is just one use of the Fiserv platform. It says it also supports stable card issuance, cross-border payments, programmable commerce, and treasury automation for financial institutions, enterprises, marketplaces, and fintechs. It also covers tokenized deposits and global foreign exchange account services, including US dollar accounts for financial institutions around the world.
Stablecoin regulation takes shape
This launch comes as financial institutions face questions about how stablecoins should be supported, supervised and presented to customers. As CryptoPotato reported last month, the Federal Reserve proposed two rules under the GENIUS Act: one requiring issuers supervised by the Fed to fully back tokens with approved reserves, such as short-term Treasuries, and another covering requests from supervised banks that want to issue payment stablecoins. The proposals were open to public comment, with a period of 60 days after publication in the Federal Register.
Another obstacle is consumer confidence. Visa’s Money Travels 2026 study found that 56% of Americans surveyed had never heard of stablecoins. However, the study also found that 45% would be willing to use them if offered by an existing financial provider, compared to 36% in a scenario without hypothetical bank-level fraud protection or deposit insurance.
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