VersaBank Launched North Dakota Stablecoin Network
The state-owned Bank of North Dakota has introduced a dollar-backed stablecoin for secure bank-to-bank transactions.
Updated on Oct. 1, 2026 in Banking
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VersaBank has partnered with Fiserv to deploy a dollar-backed stablecoin, known as the Roughrider Coin, for North Dakota financial institutions. This digital asset is designed to streamline interbank payments across the state.
Why it matters
The stablecoin offers a more efficient method for bank-to-bank settlements within the state financial system. It utilizes new digital asset technology to improve transaction speed for North Dakota institutions.
The Roughrider Coin network currently includes more than 90 banks and credit unions across the state. This project marks the first implementation on the Fiserv Digital Asset Platform.
The players
VersaBank
VersaBank is a Canadian-based financial institution headquartered in London, Ontario, that specializes in digital banking and asset technology.
Bank of North Dakota
The Bank of North Dakota is the only state-owned bank in the United States, originally established to promote agriculture, commerce, and industry.
Fiserv
Fiserv is a global provider of payments and financial services technology that developed the digital asset platform used for this stablecoin.
The details
Roughrider Coin is a dollar-backed asset that leverages the Solana blockchain and Fireblocks for secure custody and minting. The platform integrates with existing payment systems to facilitate near real-time settlements between participating North Dakota financial institutions.
Timeline
The Bank of North Dakota was originally chartered in 1919.
VersaBank expanded into the U.S. with a Structured Receivable Program in August 2024.
The partnership and official launch were announced on October 1, 2026.
Market Landscape
The launch marks a significant shift toward the integration of private stablecoin technology within traditional state-regulated banking systems. This deployment positions the Bank of North Dakota as a pioneer in digital financial infrastructure among state-owned entities.
Financial institutions across the state can now access near real-time settlement capabilities for interbank transactions. For customers, this transition to digital infrastructure aims to create a more efficient and responsive state banking environment.
The takeaway
The adoption of stablecoin technology by the Bank of North Dakota signals an increasing modernization of state-led financial services. Institutions looking to improve settlement efficiency may find this model serves as a scalable template for future regional banking networks.
Further reading
Learn more about the latest developments in the state financial sector by visiting Banking.
More information
Find additional details on the initiative at the Bank of North Dakota Roughrider Coin information page.
Live Poll
Do you trust bank-issued stablecoins for handling your institution's or your own financial transactions?
