TL;DR
- Ripple, Mastercard, WebBank, and Gemini will test credit card transaction settlement using RLUSD on the public XRPL blockchain.
- The pilot will allow WebBank to settle Mastercard payments almost instantly using RLUSD, reducing the process time that previously took one to three days.
- RLUSD is a 100% backed stablecoin regulated by the NYDFS, with over $1 billion in circulation, integrated into both DeFi and institutional platforms.
Ripple has partnered with Mastercard, WebBank, and the crypto exchange Gemini to test the settlement of credit card transactions using its regulated RLUSD stablecoin on the public XRP Ledger (XRPL). The initiative aims to accelerate traditional fiat payments and reduce costs without compromising regulatory compliance or security.
The pilot will allow WebBank, the issuer of the Gemini Credit Card, to settle transactions on the Mastercard network using RLUSD on the XRPL. If implemented, it would represent one of the first cases in the United States where a regulated bank settles card payments through a stablecoin on a public blockchain. The process could replace current settlement methods, which take one to three days, with near-instant transactions.
Creating a Faster and More Efficient Financial System
RLUSD is a stablecoin fully backed by cash and cash equivalents and regulated under the New York Department of Financial Services (NYDFS) Trust Charter. Since its launch in December 2024, it has surpassed $1 billion in circulation and has been integrated into DeFi platforms and institutional solutions, including Securitize’s platform for tokenized money market funds. The stablecoin operates on Ethereum and XRPL and provides a settlement model compatible with existing financial infrastructure.
Ripple (RLUSD): From the DeFi Ecosystem to the Institutional World
Mastercard, which has previously explored stablecoin payments, aims to integrate more regulated digital assets into its global network. Gemini and Ripple previously collaborated on an XRP edition of the Gemini Credit Card, and they now plan to extend RLUSD settlement to all cards issued by WebBank, including Bitcoin and Solana versions.
The partners will begin RLUSD onboarding on the XRPL in the coming months, pending regulatory approvals. The integration will cover the settlement processes of both Mastercard and WebBank, aiming to improve liquidity management, payment flow visibility, and operational efficiency without altering the user experience.
Monica Long, President of Ripple, emphasized that the project provides a clear demonstration of how regulated digital assets can enhance payment settlement and serve as a model for other card programs.
