Ripple has announced a major partnership with Mastercard, WebBank, and Gemini to pilot blockchain-based settlement using its RLUSD stablecoin. The initiative, unveiled at Ripple Swell 2025, aims to bring faster, more transparent, and compliant settlement processes to traditional fiat card payments.
This collaboration marks a significant step in merging regulated digital assets with conventional financial infrastructure, paving the way for mass adoption of blockchain in everyday transactions. The project will use Ripple’s RLUSD stablecoin on the XRP Ledger to facilitate settlements for the Gemini Credit Card, which is issued by WebBank.
Pilot Program Details and Objectives
According to Ripple, the RLUSD pilot will initially focus on enabling Mastercard and WebBank to settle credit card transactions on-chain, offering faster clearing times while ensuring compliance with existing regulatory standards. The company said this integration could redefine how payment networks handle settlement without changing how consumers make purchases.
Mastercard emphasized that the partnership aligns with its broader strategy to integrate regulated digital assets responsibly. The company reaffirmed that consumer protection, transparency, and compliance remain central to every stablecoin-related initiative. Mastercard views this project as a way to explore open-loop stablecoin settlement while maintaining the security standards of its global network.
Key Stakeholder Perspectives
Ripple’s President, Monica Long, stated that institutions are increasingly recognizing the potential of blockchain-based settlement to improve global financial systems. She added that RLUSD and the XRP Ledger provide the necessary speed, low fees, and reliability to modernize institutional payment operations.
WebBank echoed similar sentiments, noting that banks can act as vital bridges between blockchain technology and traditional finance. The bank believes that stablecoin-based settlement can significantly enhance the efficiency and reliability of fund movement.
Gemini, whose credit card will be the first to leverage RLUSD settlement, said this integration demonstrates how blockchain can facilitate real-world payments, moving beyond the confines of crypto trading platforms. The exchange believes that the RLUSD-backed card settlement will demonstrate how on-chain technology can enable seamless daily transactions.
Broader Context and Future Outlook
The initiative comes at a time when Ripple is expanding its payment and treasury solutions globally, backed by a recent $500 million funding round following a year of record institutional growth.
Ripple expects this collaboration to encourage more card programs and financial institutions to explore stablecoin settlement solutions. As the payments industry continues to evolve, the company envisions RLUSD playing a crucial role in achieving faster, transparent, and efficient cross-network settlements.