Ripple’s RLUSD Stablecoin Chosen by Mastercard for XRP Ledger-Based Settlements

Ripple, Mastercard Pilot RLUSD Stablecoin 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), signaling a major step toward blockchain-powered financial infrastructure.

Announced during Ripple’s Swell 2025 conference, the initiative is designed to demonstrate how regulated stablecoins can enhance traditional payment systems by delivering faster, compliant, and cost-efficient settlements.

At the center of the trial 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, according to Ripple.

As part of the pilot, WebBank, the issuer of the Gemini Credit Card, will explore using RLUSD on the XRPL to settle Mastercard transactions. If adopted, it would represent one of the first regulated U.S. banks to settle card payments using a regulated stablecoin on a public blockchain.

Ripple said RLUSD onboarding will begin in the coming months pending regulatory clearance. If successful, the project could serve as a template for future card programs seeking blockchain-based settlement rails.

“Our goal is to bring blockchain speed and efficiency into the back end of a payment flow consumers already know — swiping a credit card,” said Monica Long, President of Ripple.

By integrating RLUSD, the system could replace slower banking networks that currently take one to three days for settlement, offering near-instant fund movement, particularly for cross-border payments.

Mastercard said the pilot aligns with its broader strategy to bridge traditional finance and regulated digital assets. The payments giant has previously tested stablecoin solutions, while Gemini and Ripple earlier this year launched an XRP-based Gemini Credit Card edition.