TLDR
- Fiserv’s digital asset platform is now live, with Roughrider Coin on the Solana blockchain as its first use case.
- More than 90 North Dakota banks and credit unions are taking part in the rollout.
- VersaBank USA issues the token, Fiserv runs the platform, and the Bank of North Dakota provides oversight.
- Each token is backed one-to-one by US dollars and is burned automatically when it reaches the receiving bank.
- Fiserv has not shared payment volume or how many institutions are actively sending payments.
Fiserv has launched its digital asset platform with financial institution clients. The first live use case is Roughrider Coin, a dollar-backed token that runs on the Solana blockchain.
The token gives more than 90 banks and credit unions in North Dakota a new way to settle payments with each other. Fiserv announced the launch on Oct. 1.
The rollout follows an October 2025 announcement by Fiserv and the Bank of North Dakota. At that time, the two said the service would be available in 2026.
How Roughrider Coin Works
Several companies share the work behind Roughrider Coin. VersaBank USA National Association issues the token, Fiserv runs the platform, and the Bank of North Dakota provides oversight.
VersaBank handles minting, burning, custody and reserve management. Fireblocks provides digital asset infrastructure and secures the wallets.
Each token is backed one-to-one by US dollars, according to the Bank of North Dakota. New tokens are minted only after a bank moves money from its operating account into a special “for benefit of” account.
When the tokens reach the receiving bank’s wallet, a smart contract burns them automatically. This design is meant to keep token balances low.
The dollars themselves stay in bank accounts. The Bank of North Dakota says account movements are netted daily across VersaBank custody accounts and a concentration account held at the state bank.
The token is a permissioned asset on Solana’s public blockchain. Only financial institutions can use it, and participation is voluntary.
The system also includes freeze and clawback tools. These are available through Solana’s Token-2022 extensions.
Fiserv calls Roughrider a stablecoin. The Bank of North Dakota’s deployment page describes it as a dollar-backed token deposit.
What Banks Can Do With It
Banks and credit unions will use Roughrider through Commercial Center, Fiserv’s online banking system. Many already use this system for regular transfers between banks.
The Bank of North Dakota says staff will start, approve and settle payments through the same channels they use for ACH and wire transfers.
The state bank says the system can be used for treasury transfers and loan payoffs. It promises near-instant settlement at any hour and lower costs than wire transfers.
Its launch materials include a table with estimated costs. However, they do not share measured savings or explain how performance was tested.
Bank of North Dakota CEO Don Morgan said the token gives partner community banks and credit unions “a new tool to move money more efficiently across North Dakota’s interbank network.”
Fiserv said its platform can also support other uses. These include stablecoin card issuance, cross-border payments and tokenized deposits.
Fiserv has not disclosed how much money moves through Roughrider or how many institutions are actively sending payments. At last check, Solana traded at $122.10, up 3.7% over 24 hours.
