Ripple, Mastercard Launch RLUSD Credit Card on XRP Ledger

Key Insights:

• Ripple stablecoin RLUSD to settle Mastercard credit card payments through WebBank on XRP Ledger.
• RLUSD, backed by USD reserves, integrates into real-time card settlement with full regulatory compliance.
• Gemini Credit Card expands with blockchain-backed settlement using RLUSD for faster fiat transactions.

Ripple has formed a partnership with Mastercard, WebBank, and Gemini to introduce RLUSD, a U.S. dollar-backed stablecoin, into the settlement process for the Gemini Credit Card. The companies will use the XRP Ledger (XRPL), Ripple’s public blockchain, to process transactions using RLUSD instead of traditional methods.

The goal is to allow WebBank, the card issuer, to settle payments directly with Mastercard using RLUSD on-chain. RLUSD is issued under the New York Department of Financial Services (NYDFS) Trust Company Charter and backed by cash and short-term U.S. government securities. Since its release in 2024, RLUSD has reached over $1 billion in circulation.

Mastercard and WebBank Begin Blockchain-Based Settlement

WebBank and Mastercard will start integrating RLUSD into their existing card settlement systems. Jason Lloyd, CEO of WebBank, said, “Our collaboration with Mastercard, Gemini, and Ripple allows us to explore how stablecoins like RLUSD can make institutional payments faster and more efficiently while maintaining the security and dependability customers expect from banks.”

Mastercard’s global payments network will be used to support stablecoin transactions on the blockchain. Sherri Haymond, Mastercard’s Head of Digital Commercialization, stated, “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.”

Gemini Credit Card Expands Blockchain Use

The Gemini Credit Card, which already supports XRP rewards, will serve as the first program to test this stablecoin settlement. Gemini CFO Dan Chen explained, “In this next phase of the collaboration, we’re demonstrating how stablecoin settlement can be applied to an active card program, connecting blockchain innovation to real consumer payments.”

Ripple, which has supported digital asset integration for financial institutions for over a decade, will provide the blockchain infrastructure. The XRP Ledger is known for fast settlement times and low fees, and it will support the flow of RLUSD across institutional channels.

Rollout to Begin Following Approvals

The companies plan to start onboarding RLUSD into Mastercard and WebBank’s systems in the coming months. The rollout depends on regulatory approvals. Once approved, the solution will be integrated into live transaction flows.

Ripple’s technology is already used by institutions for cross-border payments, asset custody, and crypto trading. RLUSD is expected to extend those use cases, offering a faster way to move U.S. dollars on-chain within regulated payment networks.