Ripple and Mastercard Launch Pilot to Settle Credit Card Transactions with RLUSD on XRP Ledger
November 5, 2025
Ripple has announced a landmark collaboration with Mastercard, WebBank, and Gemini to pilot RLUSD, its U.S. dollar-backed stablecoin, for settling fiat credit card transactions on the XRP Ledger (XRPL) — marking a key milestone for blockchain integration in traditional finance.
Revealed at Swell 2025, Ripple’s flagship annual conference, the project aims to demonstrate how regulated stablecoins can serve as efficient and compliant payment rails, accelerating settlement times while maintaining transparency and trust.
RLUSD, introduced in December 2024 under a New York Trust Charter, is fully backed by cash and cash equivalents and has already exceeded $1 billion in circulation. The pilot positions RLUSD as a regulated digital alternative to traditional clearing mechanisms, with potential to streamline the back-end of global payment systems.
In the program, WebBank, the issuer of the Gemini Credit Card, will explore using RLUSD on the XRPL to settle Mastercard transactions. If implemented, it would mark one of the first real-world uses of a regulated stablecoin by a U.S. bank for credit card settlement on a public blockchain.
Ripple said onboarding of RLUSD to the XRPL will begin in the coming months, pending regulatory approvals. If successful, the framework could be extended to other card networks and issuers seeking blockchain-based settlement efficiencies.
“This pilot is about bringing blockchain’s speed and efficiency to a familiar consumer experience — swiping a credit card,” said Monica Long, President of Ripple.
By leveraging RLUSD, credit card settlements that currently take one to three days could become near-instant, particularly across cross-border payment corridors, reducing costs and liquidity risks for financial institutions.
Mastercard said the pilot supports its broader efforts to integrate regulated digital assets into its global payments network. Earlier this year, Ripple and Gemini collaborated on an XRP-powered edition of the Gemini Credit Card, highlighting growing institutional interest in blockchain-based settlement tools.
