- Ripple and Mastercard test RLUSD stablecoin to speed up fiat card settlements using blockchain technology.
- WebBank explores using RLUSD for Mastercard transactions through the XRP Ledger in a new pilot program.
- The pilot could make card settlements faster, cheaper, and more compliant with stablecoin-based infrastructure.
Ripple has launched a pilot program with Mastercard, WebBank, and Gemini to test the use of its RLUSD stablecoin for fiat card payment settlements. The pilot was introduced during Ripple’s Swell 2025 event. It seeks to show the potential of regulated stablecoins in enhancing financial settlements whilst ensuring compliance and standards of security.
The core of this initiative is the XRP Ledger, a decentralized payment network that is characterized by fast and inexpensive transactions. In December 2024, Ripple released its U.S. dollar-linked stablecoin, RLUSD, on a New York Trust Charter. The stablecoin is fully supported by cash and equivalents and has already surpassed the amount of $1 billion in circulation.
WebBank and Mastercard Explore Blockchain Settlements
In the pilot, WebBank, the issuer of the Gemini Credit Card, will explore settling Mastercard transactions using RLUSD on the XRP Ledger. This step marks one of the first efforts by a regulated U.S. bank to settle card payments with a regulated stablecoin on a public blockchain.
The companies plan to begin onboarding RLUSD to the network in the coming months, pending regulatory approval. If the process succeeds, it could serve as a model for other financial institutions seeking blockchain-based settlement systems. The project also strengthens the bridge between traditional banking and digital finance by integrating blockchain technology directly into existing card networks.
Potential Shift in Payment Infrastructure
The pilot could reduce reliance on traditional settlement systems that often take one to three days to clear transactions. Using a stablecoin like RLUSD could make settlements nearly instant, especially for cross-border transactions. This efficiency may lower costs and improve liquidity management for financial institutions.
Mastercard views the collaboration as a step toward integrating regulated digital assets into its global payment infrastructure. WebBank considers this partnership an opportunity to connect modern blockchain capabilities with established banking frameworks. Gemini’s participation continues its work in combining crypto innovation with consumer payment products.
Ripple’s Broader Vision for XRPL and RLUSD
Ripple sees RLUSD and the XRP Ledger as key tools for institutional payment efficiency. The ledger currently processes up to 1,500 transactions per second at a low cost, positioning it as a scalable settlement layer. RLUSD has grown steadily, with its total supply reaching $2 billion. In July, Ripple selected BNY Mellon to safeguard its RLUSD reserves using cash and US Treasuries for greater security and trust.
Further regulatory review will determine the full integration timeline. Once approved, the project could set a precedent for other card programs adopting blockchain settlement models. Bybit recently listed Ripple RLUSD stablecoin for spot trading with 5 major crypto pairs in select regions. Ripple continues to promote XRPL as a reliable network for secure, transparent, and rapid global transactions.
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