Last updated on January 3rd, 2026 at 02:57 pm
Quick Breakdown
- Ripple and Mastercard are piloting RLUSD stablecoin settlement for Gemini Credit Card transactions issued by WebBank.
- The initiative could enable instant blockchain-based settlement while retaining regulated protections.
- RLUSD, issued under NYDFS oversight, has grown to over $1 billion in circulation since its launch in late 2024.
Ripple has launched a new pilot program with payments giant Mastercard, WebBank, and Gemini to test the use of its RLUSD stablecoin for settling credit card transactions, marking a potential shift in how value moves across payment networks.
Bringing blockchain into mainstream card payments
Announced on November 5, the initiative will integrate RLUSD, Ripple’s regulated U.S. dollar-backed stablecoin, into the settlement process for transactions made using the WebBank-issued Gemini Credit Card. The pilot aims to determine whether blockchain settlement can reduce delays and operational complexity in traditional banking workflows.
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
This initiative sets a new benchmark for institutional… pic.twitter.com/7UVhCTfuo0
— Ripple (@Ripple) November 5, 2025
Sherri Haymond, Global Head of Digital Commercialization at Mastercard, described the collaboration as a step toward incorporating compliant digital assets into established financial rails.
“Through our partnerships with Ripple, Gemini, and WebBank, we’re using our global payments network to bring regulated, open-loop stablecoin payments into the financial mainstream,”
Haymond said.
Why the pilot matters
If successful, the trial would be one of the first instances of a regulated U.S. bank settling everyday card transactions using a regulated stablecoin on a public blockchain. Current card settlement systems require multiple intermediaries and may take days to finalize fund movements. By contrast, using RLUSD on the XRP Ledger could enable real-time settlement while maintaining standard consumer protections and compliance.
RLUSD is issued under a New York Department of Financial Services (NYDFS) Trust Company Charter and is fully backed by cash and cash-equivalent reserves. Since debuting in late 2024, the stablecoin’s supply has grown to over $1 billion, signalling rising institutional interest. Additionally, Ripple teamed up with Securitize to launch Ripple’s rLUSD stablecoin for use by BlackRock and VanEck’s tokenized funds.
Next steps and regulatory review
Ripple and its partners will first complete regulatory onboarding as RLUSD transitions fully to the XRP Ledger. Once approved, Mastercard and WebBank will begin designing the integration to embed blockchain-based settlement into their existing transaction workflows.
The companies noted that the pilot is part of a long-term vision to modernize settlement infrastructure without disrupting the familiar customer experience at the checkout counter.
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