Mastercard has partnered with Ripple, Gemini, and WebBank to pilot RLUSD stablecoin settlements for credit card transactions on the XRP Ledger.
Mastercard has partnered with Ripple, Gemini, and WebBank to pilot RLUSD stablecoin settlements for credit card transactions on the XRP Ledger. The companies announced the initiative at Ripple's Swell 2025 event on Wednesday.
WebBank will test settling Mastercard transactions using RLUSD on XRPL. The pilot marks one of the first times a regulated U.S. bank settles traditional card payments using a regulated stablecoin on a public blockchain, according to the companies.
RLUSD launched in December 2024 under New York's Trust Charter with full backing by cash and cash equivalents. Ripple reports the stablecoin has already surpassed $1 billion in circulation.
Ripple President Monica Long said the goal is bringing blockchain speed and efficiency to payment flows consumers already use. The technology could replace traditional settlement rails that take one to three days to clear transactions between merchant banks and card issuers.
WebBank issues Gemini's credit card, which already offers an XRP edition through the Ripple partnership. Gemini also provides a Solana edition with up to 4% back in Solana token rewards.
The companies will begin onboarding RLUSD to XRPL in coming months, pending regulatory approvals. Fernando Vazquez, President of Capital Markets at Chainlink Labs, noted this enables real-time settlement, particularly for cross-border payments.
Mastercard expanded its digital asset partnerships in June by collaborating with Chainlink for direct on-chain crypto purchases through secure fiat-to-crypto conversion. The card giant also announced Wednesday a partnership with Humanity Protocol for open finance technology access.
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