Fiserv launches stablecoin platform with North Dakota’s Roughrider Coin
Fiserv went live this week with a stablecoin system that issues the Roughrider Coin, a digital asset backed by the Bank of North Dakota and designed for bank‑to‑bank transfers across the state’s interbank network. The platform will be accessible to roughly 90 financial institutions in North Dakota, letting them move funds using the digital currency while complying with state‑level regulatory expectations.
VersaBank issued the Roughrider coin, Fireblocks supplies the digital‑asset infrastructure and the Solana blockchain settles the transactions. Fiserv provides the issuance, reserve, custody and settlement layer for the stablecoin, handling the back‑end for participants. The system also supports payment cards linked to stablecoins, automated treasury workflows, tokenized deposits and currency‑exchange services for banks, corporations, online marketplaces and fintechs. Fiserv had previously disclosed plans to launch its own stablecoin, FIUSD, targeting its network of 10,000 financial institutions, six million merchant locations and roughly 90 billion annual transactions. The Roughrider coin, like other stablecoins, aims to reduce price volatility by being pegged to a stable asset such as the U.S. dollar.
“The launch of our digital asset platform is an important milestone for Fiserv and the financial institutions we serve,” Sunil Sachdev, Head of Embedded Finance and Digital Assets, Fiserv said.
“The new platform went live this week,” Fiserv spokesperson said.
North Dakota launched its own digital currency in October 2023, becoming the second U.S. state to do so after Wyoming’s Frontier Stable Token debuted in August 2023. Fiserv had previously announced plans to release its own stablecoin, FIUSD, by the end of 2023 to serve its network of 10,000 financial institutions, six million merchant locations and 90 billion annual transactions.
What we know
Payments processor Fiserv went live with its new system for stablecoins, rolling out the Roughrider Coin backed by Bank of North Dakota.
North Dakota, which is the only state to operate its own bank, said that some 90 financial institutions in the state would have access for making bank-to-bank transfers with the digital currency.
Last October, North Dakota became the second state in the U.S. to launch its own digital currency.
Last June, Fiserv said it would launch its own stablecoin, FIUSD, aiming to leverage use across its network of 10,000 financial institutions, six million merchant locations and 90 billion annual transactions.
A Fiserv spokesperson said the new platform went live this week.