Ripple’s RLUSD to Enable Mastercard Credit Card Transactions via XRP Ledger

Ripple, Mastercard Pilot RLUSD Stablecoin for Credit Card Settlements on XRP Ledger
November 5, 2025

Ripple has partnered with Mastercard, WebBank, and Gemini to pilot the use of its RLUSD stablecoin for settling fiat credit card transactions on the XRP Ledger (XRPL) — a move that could redefine how banks handle payment settlements.

Unveiled at Ripple’s Swell 2025 conference, the initiative showcases how regulated stablecoins can deliver faster, more efficient settlement mechanisms for traditional payment systems while maintaining compliance and transparency.

At the core of the pilot is RLUSD, Ripple’s U.S. dollar-backed stablecoin launched in December 2024 under a New York Trust Charter. Fully backed by cash and equivalents, RLUSD has already surpassed $1 billion in circulation, underscoring growing institutional interest in regulated digital assets.

Under the program, WebBank, the issuer of the Gemini Credit Card, will test settling Mastercard transactions using RLUSD on the XRPL. If successful, it would mark one of the first cases of a regulated U.S. bank using a stablecoin on a public blockchain for traditional credit card settlement.

Ripple said the RLUSD onboarding process will begin in the coming months pending regulatory clearance. The company believes the framework could eventually serve as a model for other card issuers exploring blockchain-powered settlement systems.

“Our goal is to bring blockchain’s speed and efficiency to the back end of everyday payments — like swiping a credit card,” said Monica Long, Ripple’s President.

By leveraging RLUSD, Ripple aims to cut settlement times from one to three business days to near-instant processing, particularly across cross-border payments, improving liquidity and reducing operational costs for banks and networks alike.

Mastercard, which has been expanding its digital asset strategy, said the pilot supports its mission to bridge traditional finance and regulated blockchain technology. The collaboration builds on a previous partnership between Ripple and Gemini, which earlier this year launched an XRP-powered version of the Gemini Credit Card.