Ripple has formed a groundbreaking partnership with Mastercard, WebBank, and cryptocurrency exchange Gemini to pilot the use of its RLUSD stablecoin for credit card transaction settlements. This collaboration marks a significant step toward integrating blockchain technology into traditional financial infrastructure, potentially transforming how credit card payments are processed and settled.
The initiative centers around using Ripple’s dollar-backed RLUSD stablecoin on the XRP Ledger (XRPL) to settle fiat credit card transactions. This represents one of the first instances where traditional financial institutions have explored using a regulated stablecoin on a public blockchain for mainstream payment processing.
Monica Long, Ripple’s president, explained the vision behind the partnership: “The goal is to bring blockchain speed and efficiency into the back-end of a payment flow consumers already know — swiping a credit card.” This statement highlights how the technology aims to improve existing systems rather than replace familiar consumer experiences.
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
How RLUSD Will Transform Credit Card Settlements
The current credit card settlement process typically takes one to three days to clear transactions between merchant banks and card issuers. With RLUSD operating on the XRP Ledger, these settlements could happen almost instantaneously. This improvement in settlement speed offers significant advantages to all parties involved in the transaction chain.
WebBank, which issues the Gemini Credit Card, will explore settling Mastercard transactions using RLUSD on the XRP Ledger. The partnership builds on an existing relationship between Ripple and Gemini, who previously collaborated on an “XRP edition” of the Gemini Credit Card earlier this year.
What makes this pilot particularly noteworthy is that all Gemini Credit Card transactions—including Bitcoin and Solana versions—could potentially use RLUSD settlement on the XRP Ledger. This would create a unified settlement layer powered by blockchain technology across multiple cryptocurrency card offerings.
A Ripple spokesperson explained: “By using RLUSD, banks and networks could move funds in near real time, improving liquidity management and visibility across the system. It’s about enhancing how money moves between trusted partners, making the process more efficient, without changing how people pay.”
The Growth of RLUSD in the Stablecoin Ecosystem
RLUSD has shown substantial growth since its introduction in December 2024. The stablecoin operates under a New York Trust Charter and has already surpassed $1 billion in market capitalization, making it the 11th largest stablecoin by market cap according to DefiLlama.
The stablecoin is fully backed by cash and cash equivalents, with primary custody provided by BNY Mellon and regulation overseen by the New York Department of Financial Services (NYDFS). This regulatory backing provides important assurances about the stability and legitimacy of RLUSD.
In September, RLUSD was integrated into Securitize’s platform, expanding its potential use in institutional settings such as in the exchange of tokenized money market funds. This latest partnership with Mastercard, WebBank, and Gemini further demonstrates the growing utility of RLUSD in bridging traditional and digital finance.
The Future of Blockchain in Payment Processing
This collaborative effort between Ripple, Mastercard, WebBank, and Gemini signals a significant shift in how financial institutions view blockchain technology. Rather than seeing it as a competitor to traditional financial systems, these companies are exploring ways to leverage blockchain’s benefits while maintaining the familiar user experience of credit card payments.
If successful, this pilot could become a model for other card programs exploring blockchain-based settlement. The potential benefits—including faster settlement times, improved liquidity management, and enhanced transaction visibility—could drive wider adoption across the financial industry.
As financial institutions continue to explore the possibilities of blockchain technology, partnerships like this one demonstrate how the technology can evolve from theoretical use cases to practical implementations in mainstream finance. By focusing on the settlement layer rather than the consumer experience, these companies are finding ways to improve financial infrastructure without disrupting established payment behaviors.
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