Ripple, Mastercard Launch Pilot to Settle Credit Card Payments with RLUSD Stablecoin on XRP Ledger
November 5, 2025

Ripple has partnered with Mastercard, WebBank, and Gemini to pilot the use of its RLUSD stablecoin for settling fiat credit card transactions on the XRP Ledger (XRPL), marking a major step toward blockchain-based payment infrastructure within traditional finance.

Announced during Ripple’s Swell 2025 conference, the initiative highlights how regulated stablecoins could modernize card payment systems by offering faster, more efficient settlement without compromising on compliance or safety.

At the core of the pilot is RLUSD, Ripple’s U.S. dollar-backed stablecoin launched in December 2024 under a New York Trust Charter. Fully collateralized by cash and cash equivalents, RLUSD has already exceeded $1 billion in circulation, according to Ripple.

Under the pilot, WebBank, issuer of the Gemini Credit Card, will explore settling Mastercard transactions using RLUSD on the XRP Ledger. If successful, this would mark one of the first instances of a regulated U.S. bank using a compliant stablecoin to settle fiat card payments over a public blockchain.

Ripple said onboarding for RLUSD on XRPL will begin in the coming months, subject to regulatory approvals. The companies view the effort as a blueprint for future card programs looking to adopt blockchain-based settlement rails.

“The goal is to bring blockchain speed and efficiency into the back-end of a payment flow consumers already know — swiping a credit card,” said Monica Long, President of Ripple.

Practically, the system could help replace legacy settlement networks that can take one to three days to clear transactions between merchants and issuers. By contrast, using RLUSD on XRPL could enable instant settlement, particularly for cross-border payments.

Mastercard said the trial aligns with its ongoing push to integrate regulated digital assets into its global network. The company has previously tested stablecoin-based transactions, while Gemini and Ripple earlier this year collaborated on an “XRP Edition” Gemini Credit Card.