Fiserv Digital Asset Platform Goes Live With Bank of North Dakota Stablecoin
By PYMNTS
AI summary of the source article
Fiserv announced that its digital asset platform is live with financial institution clients, featuring Bank of North Dakota's Roughrider Coin as its first live deployment. The dollar-backed stablecoin uses Fiserv's issuance, reserve, custody, and settlement infrastructure to facilitate interbank transfers. Versabank serves as the issuer, Fireblocks provides digital asset infrastructure and tokenization, and transactions are processed on the Solana blockchain. Designed to enable more than 90 participating banks and credit unions in North Dakota to conduct bank-to-bank transactions more efficiently, the launch follows Fiserv's earlier announcement of its platform and a stablecoin called FIUSD.
Why it matters
The platform enables more than 90 participating banks and credit unions in North Dakota to move money more efficiently across the state's interbank network.
Key facts
- Bank of North Dakota's Roughrider Coin is a dollar-backed stablecoin running on the Solana blockchain using Fiserv infrastructure.
- Versabank acts as the issuer, while Fireblocks provides tokenization services and digital asset infrastructure.
- The stablecoin is designed to facilitate interbank money movement for more than 90 participating North Dakota banks and credit unions.