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Fiserv, Inc. (NASDAQ: FISV) has announced that its digital asset platform is live with financial institution clients, marking a milestone in the commercialisation of stablecoin-enabled banking and payments.
The platform's first live use case is Roughrider Coin, Bank of North Dakota's dollar-backed stablecoin designed to enable more efficient money movement across the state's interbank network. VersaBank serves as issuer for Roughrider Coin, Fireblocks is providing secure digital asset infrastructure and tokenisation services, and transactions are processed on the Solana blockchain.
Sunil Sachdev, Head of Embedded Finance and Digital Assets, Fiserv
Sunil Sachdev, Head of Embedded Finance and Digital Assets, Fiserv said:
"The launch of our digital asset platform is an important milestone for Fiserv and the financial institutions we serve. 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."
Participating banks and credit unions will access Roughrider Coin through Commercial Center, Fiserv's commercial online banking system that financial institution clients rely on today for traditional interbank money movement.
Roughrider Coin Launches As First Live Use Case
Bank of North Dakota is using the Fiserv platform's issuance, reserve, custody and settlement infrastructure to deploy Roughrider Coin across the state's banking and payments workflows. The dollar-backed stablecoin gives more than 90 participating banks and credit unions in North Dakota a more efficient way to conduct bank-to-bank transactions while establishing a foundation for additional digital money use cases.
Don Morgan, Chief Executive Officer, Bank of North Dakota
Don Morgan, Chief Executive Officer, Bank of North Dakota commented:
"Bank of North Dakota proudly works alongside our financial partners to strengthen agriculture, commerce and industry across our state. 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. We are proud to lead this next chapter in banking innovation while supporting the continued strength, resilience and relevance of North Dakota's financial industry."
VersaBank, a North American leader in business-to-business digital banking and digital asset technology, issues Roughrider Coin and provides custody services. Its role includes minting, burning, custody and reserve asset management, core functions that enable financial institutions to operate stablecoins within a nationally regulated framework.
David Taylor, Founder and President, VersaBank said:
"VersaBank is proud to partner with Fiserv to build and operate the first product on its digital asset platform. Pairing Fiserv's scale with VersaBank's regulated digital asset capabilities gives the industry a trusted foundation to bring stablecoins into established banking and payment systems."
The Fiserv Digital Asset Platform helps financial institutions, corporates, marketplaces and fintechs enable emerging stablecoin use cases, including stablecoin card issuance, cross-border payments, programmable commerce and treasury automation. The platform also supports tokenised deposits and global currency account services, including US dollar accounts for financial institutions worldwide.
Fiserv is a Fortune 500 company and a global leader uniting commerce and finance. The company powers sustained growth and innovation at scale for financial institutions and businesses worldwide across payments, account processing, digital banking, merchant acquiring, network services, e-commerce, and Clover®, its all-in-one business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® America's Most Innovative Companies.
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