North Dakota State Bank Beats Wall Street with Live Stablecoin Settlement

North Dakota's state-owned Bank of North Dakota has successfully implemented a live stablecoin settlement system using Fiserv's digital asset platform. The Roughrider Coin, a dollar-backed token, is now being used across North Dakota's banking network for interbank payments.

The Bank of North Dakota partnered with Fiserv to launch the Roughrider Coin on Solana, which offers sub-second finality and faster settlement times compared to legacy batch rails. The system is designed to move money between banks and credit unions quickly and efficiently.

According to Don Morgan, CEO of the Bank of North Dakota, 'Launching Roughrider Coin with Fiserv gives our partner community banks and credit unions a new tool to move money more efficiently.'

Fiserv's digital asset platform is built into its existing technology stack and can be accessed through its Commercial Center portal. This means that participating institutions don't need to touch a crypto exchange or hold a wallet key themselves.