90 North Dakota Banks Adopt Solana for Real-Time Transfers
Since October 1, more than 90 banks and credit unions in North Dakota have started using Solana for settling transfers between each other. This is a significant development as it shows that traditional banks are increasingly adopting blockchain technology for their day-to-day business.
The Roughrider Coin, a stablecoin pegged to the dollar, has been launched by Fiserv and the Bank of North Dakota. It's issued by VersaBank and settlement runs on Solana, with tokenisation technology provided by Fireblocks. This allows transfers between banks to be settled in around 400 milliseconds, rather than overnight.
On top of this, a record $4.35 billion worth of tokenised equities was traded on Solana in September, which is three and a half times the August figure. Additionally, US spot ETFs on Solana have assets under management of around $1.91 billion.