Key Points
- Mastercard, Ripple, WebBank, and Gemini are testing a novel way of settling fiat card transactions using a regulated stablecoin, RLUSD, on the public XRP Ledger.
- The move is crucial as the integration is meant to reduce the transaction speed considerably.
- Even though challenges of integration and regulatory hurdles remain, it’s clearly a step forward in integrating traditional finance and the digital economy.
- The initiative, coupled with the announcement of $500 million in funding, has pushed XRP’s price up today.
Mastercard Launches First Credit Card Settlement Pilot Using Ripple’s Stablecoin RLUSD
Mastercard, Ripple, WebBank, and Gemini are testing a novel way of settling fiat card transactions using a regulated stablecoin, RLUSD, on the public XRP Ledger. Through the first-of-a-kind move, Mastercard is testing whether it could accelerate the payment settlement speed by utilizing the XRP ledger.
Sherri Haymond, the Global Head of Digital Commercialization at Mastercard, stated that through their partnerships with Ripple, Gemini, and WebBank, they were using their global payments network to bring regulated, open-loop stablecoin payments into the financial mainstream. The collaboration was announced by Ripple during the Ripple Swell 2025 conference yesterday, November 5.
Ripple Swell: We’re collaborating with @Mastercard, WebBank, and @Gemini to introduce $RLUSD settlement on the XRP Ledger for fiat credit card payments, starting with the Gemini XRP Credit Card: https://t.co/36yoNBtM9f
— Ripple (@Ripple) November 5, 2025
This initiative sets a new benchmark for institutional… pic.twitter.com/7UVhCTfuo0
Commenting on the endeavor, Monica Long, the President of Ripple, stated that financial institutions around the world were increasingly recognizing the value of blockchain and stablecoins in modernizing how money moves.
Mastercard currently has a global presence in over 200 countries, and Gemini is a Nasdaq-listed global crypto exchange serving more than 60 countries, while WebBank is a leading force in digital lending. Ripple provides crypto solutions to institutional customers. The company is pushing its digital assets and services for institutional use cases, such as faster and transparent cross-border transactions. The coming together of these dominant players in the traditional finance and digital economy is a major step in the integration of both.
What Is RLUSD and Why Does It Matter for Payments?
RLUSD is a stablecoin or simply a digital token backed by the U.S dollar. That’s the value of 1 RLUSD equals 1 USD. Launched back in 2024, it works on the XRP ledger, a blockchain developed by Ripple Labs. RLUSD is issued under the New York Department of Financial Services (NYDFS) Trust Company Charter and is completely backed by cash and cash-equivalent reserves. According to Ripple, within a year, RLUSD has reached $1 billion in supply.
RLUSD: One Year, One Billion
— Ripple (@Ripple) November 3, 2025
→ $1B+ Market Cap
→ 1:1 USD-backed
→ The #1 trusted and transparent stablecoin for institutions
With Ripple Prime, GTreasury, and Rail now joining the effort, $RLUSD and $XRP will drive faster, efficient and compliant settlement worldwide. This is… pic.twitter.com/DV1oS5TEY0
The move is crucial as the integration is meant to reduce the transaction speed considerably. The current traditional settlement involves many intermediaries and takes 1 to 3 business days to complete the transaction, while deploying the RLUSD, the settlement can be done instantly on a verified ledger.
Moreover, the partnership also bridges the regulated traditional finance with blockchain technology, bringing the digital asset ecosystem closer to mainstream finance.
According to Ripple, the rollout can be expected in the coming months, subject to integration challenges and obtaining the required regulatory approvals.
Challenges & Opportunities Ahead
Even though challenges of integration and regulatory hurdles remain for the new payment initiative, it’s clearly a step forward in integrating the best of both traditional finance systems and cutting-edge technologies of the digital economy.
The partnership is welcomed by the crypto community and has had a bullish impact on the Ripple-backed XRP. It’s evident from the broader positive response from the market that such initiatives are the need of the hour.
The XRP is trading around $2.31 at press time, and the price has increased by more than 4% in the past 24 hours.
Source: Tradingview
In addition to the partnership with Mastercard, Gemini, and Westbank, the announcement of $500 million strategic funding led by Fortress and Citadel at the Ripple Swell conference had pushed the prices up for XRP, which had been struggling amid the heightened macro uncertainties, including the U.S. government shutdown and ETF approval delays.