North Dakota's Roughrider Coin, a dollar-backed stablecoin on Solana, launched on Fiserv's platform enabling 90+ banks and credit unions to settle payments.
DeFi & Yields ·
Fiserv's digital asset platform went live on October 1 with Roughrider Coin as its first offering, a dollar-backed stablecoin settling on Solana that connects more than 90 North Dakota banks and credit unions for interbank transfers. Bank of North Dakota operates the coin through Fiserv's issuance and settlement systems, while VersaBank manages custody and minting operations, and Fireblocks handles the underlying digital asset infrastructure. The coin is accessible to participating institutions through Commercial Center, Fiserv's existing platform for commercial online banking.
The rollout reflects broader momentum in blockchain-based banking infrastructure, though the sector remains subject to evolving federal oversight. The Federal Reserve has proposed rules requiring fully backed reserves for stablecoin issuers and applications from supervised banks seeking to issue payment stablecoins, with a 60-day public comment window following Federal Register publication.
Consumer adoption presents a separate challenge. A Visa survey found that 56 percent of Americans had never encountered stablecoins, though 45 percent expressed willingness to use them when offered through an existing financial institution—compared with 36 percent without bank-level fraud protection and deposit insurance.