Milwaukee-based Fiserv announced on October 1 that its digital asset platform is live with financial institutional clients, and Bank of North Dakota\u2019s Roughrider Coin is the first product running on it.<\/p>\n
The dollar-backed stablecoin settles on Solana and gives more than 90 banks and credit unions in the state a new way to move money between each other.<\/p>\n
Bank of North Dakota is using<\/a> Fiserv\u2019s issuance, reserve, custody, and settlement infrastructure to roll the coin out across the state\u2019s banking and payments workflows. Participating institutions will reach it through Commercial Center, the commercial online banking system Fiserv\u2019s clients already use for traditional interbank transfers.<\/p>\n VersaBank will issue Roughrider Coin and handle custody, a job that includes minting, burning, and managing the reserve assets. Fireblocks supplies the digital asset infrastructure and tokenization services, while transactions are processed on the Solana blockchain.<\/p>\n Sunil Sachdev, Firsev\u2019s head of embedded finance and digital assets, stated that the company is \u201chelping clients unlock new efficiencies in banking and payments\u201d while keeping the security and regulatory standards they expect.<\/p>\n Bank of North Dakota\u2019s chief executive, Don Morgan, called the coin \u201ca new tool to move money more efficiently across North Dakota\u2019s interbank network.\u201d<\/p>\n VersaBank founder and president David Taylor described Fiserv\u2019s scale paired with his firm\u2019s regulated capabilities as a \u201ctrusted foundation to bring stablecoins into established banking and payments systems.\u201d<\/p>\n Roughrider Coin is only one use for Fiserv\u2019s platform. It says it also supports stablecoin card issuance, cross-border payments, programmable commerce and treasury automation for financial institutions, corporates, marketplaces and fintechs. It also covers tokenized deposits and global currency account services, including US dollar accounts for financial institutions around the world.<\/p>\n The launch comes as financial institutions face questions about how stablecoins should be backed, supervised, and presented to customers. As CryptoPotato<\/em> reported last month, the Federal Reserve proposed<\/a> two rules under the GENIUS Act: one requiring Fed-supervised issuers to fully back tokens with approved reserves, such as short-term Treasury bills, and another covering applications from supervised banks that want to issue payment stablecoins. The proposals were open to public comment, with the period set to run for 60 days after publication in the Federal Register.<\/p>\n Consumer confidence is another hurdle. Visa\u2019s Money Travels 2026 study found<\/a> that 56% of surveyed Americans had never heard of stablecoins. However, the study also found that 45% would be willing to use them when offered by an existing financial provider, compared with 36% under a scenario without hypothetical bank-level fraud protection and deposit insurance.<\/p>\n The post North Dakota\u2019s Roughrider Coin Goes Live on Fiserv and Solana<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Milwaukee-based Fiserv announced on October 1 that its digital asset platform is live with financial institutional clients, and Bank of North Dakota\u2019s Roughrider Coin is the first product running on it. The dollar-backed stablecoin settles on Solana and gives more than 90 banks and credit unions in the state a new way to move money […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-235226","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/235226"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=235226"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/235226\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=235226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=235226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=235226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Stablecoin Regulations Taking Shape<\/h2>\n