Fiserv Unveils Solana-Based Digital Asset Platform for Interbank Settlements

Fiserv has launched its Solana-based digital asset platform for interbank settlements. The company's first live product is Roughrider Coin, a stablecoin backed by the U.S. dollar and designed to facilitate faster transactions between participating banks and credit unions in North Dakota.

Roughrider Coin was issued by the Bank of North Dakota with VersaBank serving as the issuer, Fireblocks providing custody and tokenization infrastructure, and Solana processing the transactions. The stablecoin will be accessible through Commercial Center, Fiserv's existing corporate online banking platform.

The launch marks a significant step for Fiserv in its business transformation efforts. The company faces pressure from activist investor Jana Partners to accelerate operational changes and increase cost cuts. Fiserv plans to expand the platform's use cases beyond interbank settlements to include stablecoin-linked cards, cross-border payments, and treasury automation.

The Solana-based digital asset platform also supports tokenized deposits and global currency accounts, including U.S. dollar accounts for financial institutions outside the United States. Fiserv has reported that its commercial launch of the new business comes as the company seeks to improve the efficiency of its core business.