Fiserv launches stablecoin platform with North Dakota bank

Fiserv has launched its digital asset platform with financial institution clients, with the first live use case being Bank of North Dakota's Roughrider Coin.

The platform supports a dollar-backed stablecoin intended to enable money movement across North Dakota's interbank network. Participating banks and credit unions will access the service through Fiserv's Commercial Centre online banking system, which they already use for traditional interbank transfers.

Roughrider Coin is backed by the US dollar and designed for bank-to-bank transactions. Bank of North Dakota is using Fiserv's issuance, reserve, custody and settlement infrastructure to deploy the stablecoin across banking and payments workflows in the state.

More than 90 banks and credit unions in North Dakota will be able to use the coin, marking Fiserv's first live implementation for stablecoin-based banking and payments.

Several parties support the project. VersaBank acts as issuer of Roughrider Coin and provides custody services, while Fireblocks supplies digital asset infrastructure and tokenisation services. Transactions are processed on the Solana blockchain.

The launch moves Fiserv's digital asset work from pilot concepts into production. The platform is aimed at financial institutions, corporates, marketplaces and fintechs that want to use stablecoins and other forms of digital money within existing payment and banking systems.

Its stated uses include stablecoin card issuance, cross-border payments, programmable commerce and treasury automation. The platform also supports tokenised deposits and global currency account services, including US dollar accounts for financial institutions outside the United States.

State network

Bank of North Dakota said the project is intended to improve the efficiency of funds moving between financial institutions in the state. As a state-owned bank, it works with local banks and credit unions rather than competing directly for retail customers.

That structure gives the bank a central role in North Dakota's banking network, and the Roughrider Coin rollout is presented as an extension of that function. The bank said the stablecoin could also provide a foundation for additional digital money applications over time.

"Bank of North Dakota proudly works alongside our financial partners to strengthen agriculture, commerce and industry across our state," said Don Morgan, Chief Executive Officer, 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."

Industry push

Fiserv's move comes as financial services groups continue to test how regulated digital assets can be used in mainstream banking operations. Stablecoins, which are designed to maintain a fixed value against an asset such as a currency, have drawn attention for potential use in settlement, treasury and cross-border transfers.

The company presented the platform launch as a commercial milestone rather than a research exercise. The aim is to let institutions adopt digital asset functions while keeping them within existing banking channels and operating models.

"The launch of our digital asset platform is an important milestone for Fiserv and the financial institutions we serve," said Sunil Sachdev, Head of Embedded Finance and Digital Assets, 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."

VersaBank's role includes minting, burning, custody and reserve asset management for Roughrider Coin. Those functions are central to issuing and operating a stablecoin within a regulated banking framework.

VersaBank said its involvement reflects growing demand for partners that can provide regulated issuance and custody for digital assets used by financial institutions. Working with Fiserv gives it access to a large installed base of banking clients exploring digital money services.

"VersaBank is proud to partner with Fiserv to build and operate the first product on its digital asset platform," said 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."