Fiserv Launches Digital Asset Platform with Stablecoin for Bank-to-Bank Payments

Payments giant Fiserv has launched its digital asset platform, enabling financial institutions to use stablecoins for banking and payment purposes. The initial application of the platform is Roughrider Coin, a dollar-pegged stablecoin developed by the Bank of North Dakota for bank-to-bank payments in the state.

The platform unites banking technology with blockchain settlement, allowing participating banks and credit unions to use the digital currency alongside traditional money transfer services. The issuance and custody management of Roughrider Coin are handled by VersaBank, which has experience in utilizing its unique digital asset technology in commercial banking.

Fiserv's digital asset platform is designed to provide infrastructure for the issuance, reserve, custody, and settlement of stablecoins, as well as other use cases such as card issuance, cross-border payments, programmable commerce, and treasury automation. The company believes that this innovation will help financial institutions pursue new banking and payment applications while maintaining security and regulatory standards.

The platform's infrastructure is provided by Fireblocks, which offers digital asset technology, while transactions are processed by Solana. The launch of Fiserv's digital asset platform represents an important milestone in the development of stablecoins for banking and payment purposes.