Fiserv Stablecoin Platform Goes Live, With 90-Plus Banks, CUs In First Use Case
By CU Today Staff —
MILWAUKEE—Fiserv said its new digital asset platform has gone live with financial institution clients, with the first deployment supporting a dollar-backed stablecoin that will be available to more than 90 banks and credit unions in North Dakota.
The first use case is Roughrider Coin, Bank of North Dakota’s stablecoin for moving money across the state’s interbank network. VersaBank serves as issuer and provides custody services, Fireblocks provides digital asset infrastructure and tokenization services, and transactions are processed on the Solana blockchain. Participating financial institutions will access the stablecoin through Fiserv’s Commercial Center online banking system.
“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 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.”
Bank of North Dakota is using Fiserv’s issuance, reserve, custody and settlement infrastructure to deploy Roughrider Coin.
“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,” said Don Morgan, chief executive officer of Bank of North Dakota.
Fiserv said its broader digital asset platform is designed to support stablecoin card issuance, cross-border payments, programmable commerce and treasury automation. It also supports tokenized deposits and global currency account services, including U.S. dollar accounts for financial institutions worldwide.
Originally reported by CU Today.