Ripple Labs (XRP) is partnering with Mastercard to introduce RLUSD credit card settlements on the XRP ledger. Per a Wednesday announcement from both platforms, the collaboration will leverage Ripple’s stablecoin, RLUSD, on the XRP Ledger (XRPL) to enhance how fiat-based payments are processed with the Gemini Credit Card.
“Through our partnerships with Ripple, Gemini, and WebBank, we’re using our global payments network to bring regulated, open-loop stablecoin payments into the financial mainstream,” said Sherri Haymond, Global Head of Digital Commercialization at Mastercard. “Guided by our commitment to consumer choice and a principled approach to stablecoins—one that emphasizes strong consumer protections, a level playing field, and full regulatory compliance—we’re enabling settlement today while exploring how stablecoins can support future use cases.”
More on the Ripple Mastercard RLUSD Test
In the coming months, Ripple and Mastercard will conduct initial RLUSD onboarding on the XRPL, subject to required regulatory approvals. Following approval, they will begin integration planning within the existing Mastercard and WebBank settlement processes.
RLUSD stablecoin has seen much success in the past year since its launch, surpassing $1 billion in circulation. The RLUSD Mastercard setting test will see WebBank, the issuer of the Gemini Credit Card, explore settling Mastercard transactions using RLUSD on the XRPL. If implemented, this would be one of the first instances of a regulated U.S. bank settling traditional card payments using a regulated stablecoin on a public blockchain.
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“Through the Gemini Credit Card, we’re advancing the way that digital assets are integrated into everyday spending,” said Dan Chen, Chief Financial Officer at Gemini. “In this next phase of the collaboration, we’re demonstrating how stablecoin settlement can be applied to an active card program, connecting blockchain innovation to real consumer payments.”
The Ripple XRP token is up nearly 2% today after the announcement, while Mastercard (MA) stock is down a fraction of a percent.
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