Milwaukee-based Fiserv announced on October 1 that its digital asset platform is live with financial institutional clients, and Bank of North Dakota’s Roughrider Coin is the first product running on it.
The dollar-backed stablecoin settles on Solana and gives more than 90 banks and credit unions in the state a new way to move money between each other.
Roughrider Coin Runs on Solana Inside Fiserv’s Banking Platform
Bank of North Dakota is using Fiserv’s issuance, reserve, custody, and settlement infrastructure to roll the coin out across the state’s banking and payments workflows. Participating institutions will reach it through Commercial Center, the commercial online banking system Fiserv’s clients already use for traditional interbank transfers.
VersaBank will issue Roughrider Coin and handle custody, a job that includes minting, burning, and managing the reserve assets. Fireblocks supplies the digital asset infrastructure and tokenization services, while transactions are processed on the Solana blockchain.
Sunil Sachdev, Firsev’s head of embedded finance and digital assets, stated that the company is “helping clients unlock new efficiencies in banking and payments” while keeping the security and regulatory standards they expect.
Bank of North Dakota’s chief executive, Don Morgan, called the coin “a new tool to move money more efficiently across North Dakota’s interbank network.”
VersaBank founder and president David Taylor described Fiserv’s scale paired with his firm’s regulated capabilities as a “trusted foundation to bring stablecoins into established banking and payments systems.”
Roughrider Coin is only one use for Fiserv’s platform. It says it also supports stablecoin card issuance, cross-border payments, programmable commerce and treasury automation for financial institutions, corporates, marketplaces and fintechs. It also covers tokenized deposits and global currency account services, including US dollar accounts for financial institutions around the world.
Stablecoin Regulations Taking Shape
The launch comes as financial institutions face questions about how stablecoins should be backed, supervised, and presented to customers. As CryptoPotato reported last month, the Federal Reserve proposed two rules under the GENIUS Act: one requiring Fed-supervised issuers to fully back tokens with approved reserves, such as short-term Treasury bills, and another covering applications from supervised banks that want to issue payment stablecoins. The proposals were open to public comment, with the period set to run for 60 days after publication in the Federal Register.
Consumer confidence is another hurdle. Visa’s Money Travels 2026 study found that 56% of surveyed Americans had never heard of stablecoins. However, the study also found that 45% would be willing to use them when offered by an existing financial provider, compared with 36% under a scenario without hypothetical bank-level fraud protection and deposit insurance.
The post North Dakota’s Roughrider Coin Goes Live on Fiserv and Solana appeared first on CryptoPotato.
More than 90 banks and credit unions across North Dakota will be able to access Roughrider Coin through Firsev’s Commercial Center platform. AA News, Crypto News, Solana, Stablecoins, United States
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.