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- Ripple partners with Mastercard, WebBank, and Gemini to test RLUSD for card settlement.
- The initiative uses XRPL for blockchain-based fiat transaction settlement.
- It marks a major step toward regulated stablecoin adoption in mainstream finance.
According to the announcement, Ripple revealed a new partnership with Mastercard, WebBank, and Gemini during Ripple Swell 2025. The companies will test the use of Ripple USD (RLUSD) on the XRP Ledger (XRPL) to settle fiat card transactions.
This collaboration aims to merge traditional financial systems with blockchain technology. The pilot will explore how RLUSD can streamline settlements between Mastercard and WebBank, the issuer of the Gemini Credit Card.
It will serve as one of the first projects where a regulated U.S. bank settles traditional card payments using a regulated stablecoin on a public blockchain. The initiative reflects a growing trend in the financial industry to use blockchain for faster, more transparent, and secure transactions.
Ripple Strengthens Compliance Partnerships with Regulated Institutions
Ripple’s partnership highlights its focus on compliance and collaboration with institutions that follow strict regulatory standards. The move builds on its earlier work with WebBank and Gemini, particularly on the Gemini Credit Card’s XRP edition launched earlier this year.
The partnership demonstrates how regulated banks can connect traditional finance with blockchain-based systems. WebBank’s participation shows how stablecoins like RLUSD can improve the speed and efficiency of payment settlements without sacrificing reliability.
Mastercard’s global payment infrastructure provides the necessary reach, while Gemini brings experience in digital asset integration. By leveraging XRPL’s fast and low-cost transaction capabilities, the partners seek to create a smooth settlement process between banks and merchants.
Ripple’s technology allows near-instant payment confirmation, reducing the friction and delays seen in current systems. Once deployed, this project could serve as a model for other card programs looking to adopt stablecoins for regulated settlement use.
Ripple’s RLUSD Stablecoin Surpasses $1 Billion in Circulation
Ripple USD, or RLUSD, is a U.S. dollar–backed stablecoin regulated under the New York Department of Financial Services (NYDFS). It is fully supported by cash and cash-equivalent reserves, ensuring transparency and trust. Since its launch in late 2024, RLUSD has surpassed $1 billion in circulation, signaling strong institutional adoption across DeFi and corporate payments.
The XRPL continues to prove its reliability as a blockchain built for financial-grade transactions. Its ability to support stablecoin operations makes it ideal for real-world use cases such as this partnership. In the coming months, the partners will begin the onboarding process for RLUSD on XRPL, pending regulatory clearance.
This initiative marks a pivotal step in bringing blockchain-based settlement to mainstream finance, showing how stablecoins can complement traditional payment networks while maintaining compliance, speed, and security.
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