Banking technology provider Fiserv has launched its digital asset platform in production, establishing a dollar settlement pathway on Solana for North Dakota’s credit unions and banks.
In an Oct. 1 announcement, the company highlighted Roughrider Coin—an interbank payment token regulated by the Bank of North Dakota (BND)—as the platform’s initial live application.
Institutions taking part will utilize Commercial Center, the online banking portal from Fiserv that they already rely on for conventional interbank transactions. According to BND, the processes for initiation, approval, and settlement operate via the identical operational channels that banks currently employ for wire transfers and ACH, enabling personnel to utilize familiar tools.
Fiserv reports that upwards of 90 credit unions and banks across North Dakota are involved. This number represents participation in the deployment, while the precise volume of funds moving through Roughrider remains unpublicized.
This production launch follows an initial October 2025 revelation by Fiserv and the Bank of North Dakota regarding a planned 2026 rollout.
Public network, controlled access
Documentation for the BND deployment characterizes Roughrider as a permissioned asset operating on the public Solana blockchain. Involvement is optional and limited strictly to financial institutions, with token transfers executed on Solana while adhering to these institutional access restrictions.
The token is issued by US bank VersaBank USA National Association, the platform is run by Fiserv, and oversight is managed by BND. Fiserv designates VersaBank to handle reserve management, custody, minting, and burning. BND notes the use of Fireblocks-secured wallets alongside freeze and clawback functions supported by Solana Token-2022 extensions.
While Fiserv refers to Roughrider as a stablecoin, the current deployment documentation from BND labels it a dollar-backed tokenized deposit.
BND states that every token is backed one-to-one by US dollars. New tokens are only minted after a verified transfer is made from an institution’s operating account into a designated “for benefit of” account.
When tokens arrive at the recipient institution’s digital wallet, a smart-contract instruction automatically initiates burning, an architectural choice meant to keep token circulation minimal.
This burning process destroys the transferred tokens, though traditional bank accounts remain integrated into the procedure. BND outlines a process of daily netting for account movements across a concentration account held at BND and VersaBank custody accounts.
The architecture separates token settlement from the reconciliation of underlying bank accounts.
BND markets the infrastructure for loan payoffs and treasury transfers, offering round-the-clock, near-instant settlement alongside reduced expenses relative to wire transfers. Although a comparison chart outlines estimated costs, the rollout documents do not provide figures for realized savings or details on performance testing.
For local community banks, the primary adjustment is the addition of a settlement alternative integrated directly into current operational workflows. The upcoming evaluation will determine whether active user numbers and payment volumes demonstrate that these institutions are adopting the new method for everyday interbank operations.