VersaBank

Fiserv has launched the Roughrider stablecoin, a bank-to-bank settlement token built on Solana. Versa Bank issues the bank-only token, which serves a North Dakota network of more than 90 banks and credit unions. The coin is designed for interbank settlement among those institutions rather than for consumer retail use, replacing legacy systems such as Swift and ACH with near-instant, near-zero-fee transfers. The North Dakota effort is separate from a national network of regional and community banks that is launching its own bank stablecoin network. Because the token runs on Solana, its growth could drive demand for the network's gas fees.

VersaBank reported record results for Q3 fiscal 2026, with total assets reaching a new high of just under $6.9 billion, up 26% year-over-year, and surpassing $7 billion subsequent to quarter end. Total consolidated revenue hit a record $38.8 million, up 23% year-over-year, while reported net income rose 53% to $10.1 million, and adjusted net income increased 27% to $12.3 million. The bank's credit asset portfolio grew to a record just shy of $6.2 billion, driven by its structured receivable program (SRP), which increased 40% year-over-year to $5.2 billion. US banking revenue surged 199% year-over-year to $9.3 million, with net income up 803% to $3.9 million, while Canadian banking revenue grew 4% to $27.6 million. Management set a fiscal 2027 target of at least USD 3 billion in additional US SRP fundings, representing 60% growth in the credit asset portfolio, and highlighted the launch of an AI-enabled real-time SRP that allows partners to finance loans individually within hours. The bank also noted a negative provision for credit losses of 0.02% of credit assets, reflecting a recovery, and book value per share increased to a record $17.45.