Ripple Partners With Mastercard to Pilot RLUSD Stablecoin Settlements on XRP Ledger
November 5, 2025
Ripple has joined forces with Mastercard, WebBank, and Gemini to pilot the use of its RLUSD stablecoin for credit card transaction settlements on the XRP Ledger (XRPL) — a development that could mark a major leap in merging traditional payment systems with blockchain technology.
Announced during Ripple’s Swell 2025 conference, the initiative aims to demonstrate how regulated stablecoins can enhance financial settlement infrastructure by offering faster, compliant, and transparent payment flows.
Launched in December 2024 under a New York Trust Charter, RLUSD is fully backed by cash and cash equivalents and has already surpassed $1 billion in circulation. The stablecoin serves as the foundation for Ripple’s vision of bridging traditional finance with decentralized payment networks.
As part of the pilot, WebBank, the issuer of the Gemini Credit Card, will test settling Mastercard transactions using RLUSD over the XRPL. If realized, this would mark one of the first applications of a regulated U.S. bank using a stablecoin on a public blockchain for fiat credit card settlements.
Ripple said it expects to begin onboarding RLUSD to the XRP Ledger in the coming months, pending regulatory approvals. If successful, the framework could become a blueprint for other financial institutions seeking blockchain-based settlement solutions.
“The goal is to bring blockchain’s speed and efficiency to a payment experience consumers already know — swiping a credit card,” said Monica Long, President of Ripple.
By using RLUSD, credit card transactions could move from multi-day settlement times to near-instant finality, reducing friction in both domestic and cross-border payments.
Mastercard said the pilot aligns with its broader strategy to integrate regulated digital assets into its global network. Earlier this year, Ripple and Gemini collaborated on an XRP edition of the Gemini Credit Card, further signaling growing institutional interest in blockchain settlement infrastructure.
