Fiserv Brings Digital Asset Platform to North Dakota with Roughrider Coin

Fiserv has launched its digital asset platform with the North Dakota's Roughrider Coin as its first live use case. The platform is designed for interbank transactions between community banks and credit unions in North Dakota, allowing for near-instant settlement 24/7/365.

The dollar-backed token deposit was developed by the Bank of North Dakota (BND) and is intended to give participating financial institutions a new tool to move money more efficiently across the state's interbank network. According to BND CEO Don Morgan, launching Roughrider Coin with Fiserv provides partner community banks and credit unions with a modernized way to transfer funds between each other.

Roughrider Coin operates on Solana using Token-2022 extensions, including freeze and clawback functions, with institutions transacting through Fireblocks-secured multi-party computation wallets. The token is fully reserved and permissioned, with participation limited to financial institutions rather than retail consumers.