Ripple’s collaboration with Mastercard, WebBank, and Gemini introduces RLUSD stablecoin settlement on the XRP Ledger for faster fiat credit card payments. This pilot tests regulated blockchain integration to reduce settlement times, costs, and risks in traditional systems, starting with the Gemini XRP Credit Card.
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RLUSD enables near-instant settlements on XRPL, bridging blockchain and traditional finance for efficient card transactions.
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The partnership demonstrates compliant stablecoin use by a U.S. bank, enhancing transparency without disrupting user experience.
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RLUSD has reached over $1 billion in circulation since 2024 launch, backed by NYDFS-regulated reserves for institutional reliability.
Discover how Ripple’s RLUSD on XRP Ledger revolutionizes card payments with Mastercard and Gemini. Faster settlements, lower costs—explore the future of stablecoin finance today.
What is Ripple’s RLUSD stablecoin settlement with Mastercard?
Ripple’s RLUSD stablecoin settlement with Mastercard involves a pilot program using the XRP Ledger to process fiat payments for credit cards, in partnership with WebBank and Gemini. Announced at Ripple Swell 2025 in New York, this initiative leverages RLUSD, a dollar-pegged stablecoin, to accelerate transaction clearing and reconciliation. By integrating blockchain technology, it aims to cut settlement times from days to seconds while maintaining regulatory compliance.
How does the XRP Ledger enhance payment settlements?
The XRP Ledger (XRPL) serves as the backbone for this settlement model, offering secure, near-instant transactions on a public blockchain designed specifically for financial applications. Unlike traditional systems that rely on multiple intermediaries, XRPL enables direct peer-to-peer transfers, reducing operational costs and minimizing counterparty risks. According to Ripple executives, the ledger’s proven speed—handling up to 1,500 transactions per second—makes it ideal for high-volume card payments.
In this pilot, Mastercard and WebBank, as the issuer for Gemini’s credit card, will test RLUSD for settling transactions between merchants and issuers. Funds move atomically on XRPL, ensuring finality without the delays common in legacy clearing networks like ACH or wire transfers. Sherri Haymond, Mastercard’s Global Head of Digital Commercialization, emphasized that this approach upholds a “principled commitment to stablecoins,” prioritizing consumer protection and seamless integration into existing infrastructure.
Data from similar blockchain pilots shows potential cost savings of up to 80% on cross-border settlements, per reports from financial analysts. For domestic card payments, the benefits include real-time reconciliation, which could prevent overdrafts and improve liquidity management for banks. Gemini’s involvement adds credibility, as their credit card already supports XRP rewards, creating a natural extension for stablecoin use.
Frequently Asked Questions
What is the role of WebBank in the RLUSD settlement pilot?
WebBank acts as the regulated U.S. issuer for the Gemini XRP Credit Card and will facilitate RLUSD settlements in the pilot. This collaboration tests how a traditional bank can use blockchain for back-end processing, ensuring all transactions remain compliant with federal regulations while benefiting from XRPL’s efficiency. The setup positions WebBank as a pioneer in hybrid finance models.
How will RLUSD impact everyday credit card users?
For everyday credit card users, RLUSD settlement on XRPL means faster processing behind the scenes, potentially leading to quicker rewards payouts and fewer transaction disputes. It won’t change how users spend or earn points, but it enhances the system’s reliability, making payments more secure and cost-effective for issuers like Gemini. This invisible blockchain layer supports smoother financial experiences without requiring user adoption of crypto.
Key Takeaways
- Blockchain meets tradition: The pilot bridges Mastercard’s card network with XRPL, enabling stablecoin settlements for fiat payments without user disruption.
- Regulatory focus: RLUSD’s NYDFS oversight and full backing by cash reserves build trust, with over $1 billion in circulation signaling institutional adoption.
- Future blueprint: Success could expand stablecoin use in mainstream finance, urging banks to explore XRPL for efficient, compliant infrastructure.
Conclusion
Ripple’s partnership with Mastercard, WebBank, and Gemini marks a significant step in integrating RLUSD stablecoin settlement on the XRP Ledger into traditional payment systems. By addressing key pain points like settlement delays and costs, this initiative demonstrates the practical value of blockchain in regulated environments. As pilots like this progress, they pave the way for broader adoption of digital assets in everyday finance, encouraging institutions to innovate responsibly for a more efficient global economy.
The pilot with WebBank and Gemini uses the XRP Ledger (XRPL) to test a new, regulated stablecoin model for speeding up settlement in mainstream card payments.
Ripple has announced a new collaboration with Mastercard, WebBank, and Gemini to introduce stablecoin-based settlement for fiat payments using its Ripple USD (RLUSD) on the XRP Ledger (XRPL). The initiative, unveiled at Ripple Swell 2025 in New York, aims to demonstrate how blockchain can enhance the back-end of traditional payment systems by speeding up settlement, lowering costs, and improving transparency.
Ripple Swell: We’re collaborating with Mastercard, WebBank, and Gemini to introduce $RLUSD settlement on the XRP Ledger for fiat credit card payments, starting with the Gemini XRP Credit Card:
This initiative sets a new benchmark for institutional… pic.twitter.com/7UVhCTfuo0
— Ripple (@Ripple) November 5, 2025
A new model for fiat payment settlement
The partnership bridges two worlds: traditional banking and blockchain-based finance. Mastercard and WebBank, the issuer of Gemini’s credit card, will test RLUSD for settlement between card transactions. Instead of clearing through conventional intermediaries, funds could be moved and reconciled on XRPL, a public ledger designed for secure, near-instant payments.
Sherri Haymond, Mastercard’s Global Head of Digital Commercialization, said the partnership reflects the company’s “principled approach to stablecoins,” noting that Mastercard is committed to consumer protection and compliance while exploring the next evolution of digital settlement.
If fully implemented, this would be one of the first cases of a regulated U.S. bank settling card transactions with a regulated stablecoin on a public blockchain, a potential blueprint for future financial infrastructure.
Bridge between blockchain innovation and banking stability
Stablecoins like RLUSD are digital assets pegged to fiat currencies, in this case, the U.S. dollar, allowing real-time settlement without price volatility. For banks and payment networks, this reduces counterparty risk and settlement delays, common issues in traditional clearing systems.
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RLUSD is fully backed by cash and cash-equivalent reserves and regulated under the New York Department of Financial Services (NYDFS). Since its 2024 launch, it has surpassed $1 billion in circulation, signaling early institutional trust in Ripple’s stablecoin model.
Jason Lloyd, CEO of WebBank, called the effort “a bridge between blockchain innovation and banking stability,” while Gemini CFO Dan Chen added that this pilot “connects blockchain innovation directly to real-world payments.”
Mastercard’s growing role in blockchain finance
The collaboration also reflects Mastercard’s expanding footprint in crypto. Last month, it advanced its partnership with Chainlink to pilot cross-chain payment data transfers using Chainlink’s Cross-Chain Interoperability Protocol (CCIP).
This project connected Mastercard’s traditional card network to decentralized systems, aiming to make blockchain settlements “invisible” to end users while preserving regulatory compliance.
With over 3.5 billion cardholders globally, Mastercard’s blockchain initiatives are now viewed as an attempt to integrate tokenized payments into everyday commerce without disrupting user experience, effectively making Web3 run behind the scenes of mainstream finance.
Ripple’s institutional expansion
For Ripple, the move is another milestone in its ongoing institutional expansion strategy following the end of its legal dispute with the U.S. SEC earlier this year. The company has spent nearly $4 billion acquiring custody, stablecoin, and treasury management firms (including Palisade, Hidden Road, and GTreasury) as part of its push to offer end-to-end digital asset infrastructure for banks and corporations.
Monica Long, Ripple’s President, said the collaboration “shows how regulated digital assets like RLUSD can enhance settlement and pave the way for faster, compliant payments.” She emphasized that the XRP Ledger, long known for its reliability and speed, will serve as the technical backbone for this and other institutional experiments.
What’s next
Ripple and its partners plan to begin onboarding RLUSD for settlement in the coming months, pending regulatory clearance.
If successful, the pilot could set a precedent for using stablecoins in mainstream card payments, positioning Ripple and Mastercard at the forefront of the next phase of digital finance, where crypto infrastructure powers traditional money movement.
Also read: Ripple Launches Digital Asset Spot Brokerage for US Market
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