1. Ripple teams up with Mastercard, WebBank, and Gemini to bring RLUSD stablecoin settlements to the XRP Ledger.
2. The collaboration will allow traditional credit card transactions to be settled using blockchain technology.
3. RLUSD circulation surpasses $1 billion as Ripple pushes stablecoin integration into mainstream finance.

Ripple has announced a major partnership with Mastercard, WebBank, and Gemini to explore blockchain-powered payment settlements using RLUSD on the XRP Ledger. The initiative, revealed at Ripple Swell 2025, marks a key milestone in merging traditional finance with digital asset infrastructure.

The goal is to use RLUSD to support secure and regulated settlement of fiat card transactions. This collaboration will allow Mastercard and WebBank, the issuer of the Gemini Credit Card, to process settlements using RLUSD on the XRPL.

Mastercard’s digital chief, Sherri Haymond, noted that the company’s vast global payments network will help bring regulated stablecoin payments into the mainstream. The project highlights a growing trend among payment giants to test stablecoins for efficiency, transparency, and compliance in financial settlements.

Once operational, it will be one of the first instances where a U.S.-regulated bank uses a stablecoin for traditional card transaction settlements on a public blockchain, a significant shift for both banking and payment systems.

Ripple’s RLUSD Strengthens XRPL’s Role

The company’s stablecoin, RLUSD, is issued under the supervision of the New York Department of Financial Services (NYDFS). It is fully backed by cash and cash-equivalent reserves, ensuring transparency and stability. Since its launch in late 2024, RLUSD’s circulation has surpassed $1 billion, with growing adoption across decentralized finance (DeFi) platforms and Ripple’s cross-border payment network.

Ripple President Monica Long said this collaboration represents how regulated digital assets like RLUSD can modernize settlement processes.

Monica Long said:

This partnership is a meaningful step toward showcasing how regulated digital assets like RLUSD can enhance settlement, paving the way for other card programs to adopt stablecoins for faster, compliant payments. The XRPL will serve as the backbone for these and other institutional use cases that are transforming how financial services operate.

Gemini’s CFO, Dan Chen, emphasized that this move builds upon the success of the Gemini Credit Card’s XRP edition introduced earlier this year. The program demonstrated how blockchain technology can integrate into everyday consumer payments while maintaining reliability and speed.

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