Ripple and Mastercard test RLUSD stablecoin for credit card payments

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Yaroslav Dmytrenko

05.11.2025

Ripple and Mastercard test RLUSD stablecoin for credit card payments — Ripple partners with WebBank, Mastercard, and Gemini on stablecoin pilot

Ripple partners with Mastercard, WebBank, and Gemini to test its RLUSD stablecoin for fiat credit card settlements on the XRP Ledger, aiming to secure regulatory approval for launch.

Ripple has taken another significant step toward bridging traditional finance and blockchain. The company announced a collaboration with Mastercard, WebBank, and Gemini to explore the use of its U.S. dollar-backed stablecoin, RLUSD, for fiat credit card settlements directly on the XRP Ledger (XRPL).

If approved by regulators, the pilot program could go live with RLUSD in the coming months, followed by integration into Mastercard and WebBank’s internal systems. The goal is to make payments faster, cheaper, and fully transparent — without changing how consumers pay for purchases.

“Regulatory approval is a key component of these efforts, and we take it seriously,” a Ripple representative told Decrypt.

RLUSD, regulated by the NYDFS and custodied by BNY Mellon, has reached a market capitalization of $1 billion.

Because the project involves both a U.S.-regulated bank and stablecoin-based settlements, deployment will begin only after all required permissions are obtained, and “all partners are committed to advancing this initiative responsibly and in full compliance with applicable regulations.”

Blockchain behind traditional finance

The partnership builds on Ripple’s previous collaboration with Gemini and WebBank, which earlier this year launched the Gemini credit card on the XRP Ledger. Instead of cashback or airline miles, users earn rewards in XRP for every purchase — effectively making crypto part of everyday spending.

In the next phase, all Gemini credit card transactions — including those linked to Bitcoin or Solana rewards — could eventually be processed via RLUSD on XRPL.

Ripple says stablecoin-based settlements could make the process nearly instantaneous, increasing liquidity transparency and reducing the lag between transaction and final settlement.

“Using RLUSD, banks and networks can move funds almost in real time,” a Ripple spokesperson explained. “It’s about improving cash flow between trusted partners — more efficiently and transparently — without changing the payment experience.”

This is a subtle but crucial shift: consumers won’t notice any difference at checkout, but behind the scenes, the money flow becomes cleaner, faster, and cheaper to manage.

As we wrote, Ripple backs $1B Evernorth deal to boost XRP ecosystem

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