Mr. David Taylor reports

VERSABANK PARTNERS WITH FISERV TO PROVIDE CRITICAL DIGITAL ASSET TECHNOLOGY AND CUSTODY/RESERVE MANAGEMENT SERVICES FOR BANK OF NORTH DAKOTA'S ROUGHRIDER STABLECOIN

VersaBank, through its wholly owned subsidiary, VersaBank USA N.A., has partnered with Fiserv Inc., a leading global provider of payments and financial services technology, to provide its proprietary digital asset technology and custody services for the development and operation of Bank of North Dakota's dollar-backed stablecoin, Roughrider Coin, the first live use case of Fiserv's digital asset platform. Specifically, VersaBank is serving as issuer of Roughrider Coin, with responsibility for the critical roles of minting, burning, custody and reserve asset management. Fiserv has partnered with the Bank of North Dakota to launch Roughrider Coin, which is the first product on the Fiserv digital asset platform and which is now live.

David Taylor, founder and president, VersaBank, commented: "We are immensely proud to partner with Fiserv, the premier provider of technology to U.S. financial institutions, and thrilled to play this crucial role in building and operating Roughrider Coin. Our invitation to join Fiserv and Bank of North Dakota in this groundbreaking advancement of digital assets for the banking industry is a clear validation of our proprietary technology, expertise and capabilities in a real-world scenario, and underscores our fundamental belief that developing and operating digital asset technology in a nationally regulated framework is core to long-term success."

"The launch of our digital asset platform is an important milestone for Fiserv and the financial institutions we serve and our strong collaboration with VersaBank was critical in moving our first use case, Roughrider Coin, from concept to production," said Sunil Sachdev, head of embedded finance and digital assets at Fiserv. "We look forward to working with the incredible team at VersaBank on this important initiative for our company, as well as to continuing to collaborate with VersaBank for additional potential opportunities in this rapidly developing sector."

About Bank of North Dakota and Roughrider Coin

Bank of North Dakota (BND) is the nation's only state-owned bank. Chartered in 1919, BND supports North Dakota agriculture, commerce and industry and partners with financial institutions and state agencies to provide services that create economic opportunity and stability across the state. North Dakota's unique banking model enhances collaboration with local financial institutions to expand opportunity and stability across the state.

Roughrider Coin is a U.S.-dollar-backed stablecoin designed exclusively for bank-to-bank payments across North Dakota's community banks and credit unions. Issued on Fiserv's digital asset platform, supported by VersaBank, VersaBank, Solana and Fireblocks, and engineered for financial institutions, Roughrider Coin delivers secure, near-real-time settlement that integrates within existing payment systems. Roughrider Coin gives more than 90 participating banks and credit unions in North Dakota a more efficient way to conduct bank-to-bank transactions while establishing a foundation for additional digital money use cases.

About VersaBank

VersaBank is a North American bank with a difference. Federally chartered in both Canada and the United States, VersaBank has a branchless, digital, business-to-business model based on its proprietary state-of-the-art technology that enables it to profitably address underserved segments of the banking industry in a significantly risk mitigated manner. Because VersaBank obtains substantially all of its deposits and undertakes the majority of its financing activities electronically through financial intermediary partners, it benefits from significant operating leverage that drives efficiency and return on common equity. In August, 2024, VersaBank launched its unique structured receivable program financing solution for point-of-sale finance companies, which has been highly successful in Canada for over 15 years, to the underserved multitrillion-dollar U.S. market. VersaBank also owns Minnesota-based DRT Cyber Inc., a North American leader in the provision of cybersecurity services to address the rapidly growing volume of cyberthreats challenging financial institutions, multinational corporations and government entities. Through DRT Cyber Inc., VersaBank owns proprietary intellectual property and technology to enable the next generation of digital assets for the banking and financial community, including the bank's revolutionary and proprietary Real Bank Tokenized Deposits.

VersaBank's common shares trade on the Toronto Stock Exchange and Nasdaq Stock Market under the symbol VBNK.

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