Ripple x Mastercard: The $1B RLUSD Stablecoin Collaboration That Could Transform Payments

Sean Williams

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  • RLUSD enables regulated stablecoin settlements on the XRPL for Mastercard and Gemini card transactions.
  • The project marks one of the first U.S.-regulated bank blockchain settlements for consumer payments.
  • Ripple, Mastercard, and Gemini showcase how digital assets can integrate with traditional finance.

Ripple is pushing the boundaries of digital finance with its latest partnership alongside Mastercard, WebBank, and crypto exchange Gemini. Announced at Ripple Swell 2025, this collaboration explores blockchain-powered settlement of card transactions using RLUSD, Ripple’s regulated stablecoin on the XRP Ledger (XRPL). The initiative signals a growing fusion between traditional banking infrastructure and blockchain technology, promising faster, secure, and compliant payments.

RLUSD: Bridging Traditional Finance and Blockchain

RLUSD is fully backed by cash and cash-equivalent reserves and regulated by the New York Department of Financial Services (NYDFS). Since its 2024 launch, RLUSD’s circulation has topped $1 billion, with increasing use in decentralized finance (DeFi) and Ripple’s cross-border payment network. Ripple President Monica Long highlighted the collaboration as a blueprint for modernizing settlement processes using regulated digital assets, potentially influencing wider adoption of stablecoins for mainstream card programs.

Mastercard’s Vision for Digital Settlements

Mastercard’s Sherri Haymond, the company’s digital chief, noted the initiative leverages Mastercard’s global network to integrate stablecoin payments into everyday financial transactions. By using RLUSD, Mastercard and WebBank—the issuer of the Gemini Credit Card—can process fiat settlements on the XRPL with enhanced transparency, compliance, and efficiency. This represents one of the first cases of a U.S.-regulated bank leveraging a stablecoin for public blockchain settlements.

Also Read: Ripple’s RLUSD Stablecoin Surpasses $1B Market Cap, Enters Global Top 10

Gemini’s Role and Consumer Integration

Gemini’s CFO Dan Chen emphasized that the project builds on the success of the Gemini Credit Card XRP edition launched earlier this year. Blockchain integration into consumer payments has shown speed, reliability, and real-world usability, demonstrating that digital assets can function alongside traditional financial systems without compromise.

This partnership illustrates the growing mainstream acceptance of stablecoins in regulated financial frameworks. By combining Ripple’s RLUSD with Mastercard’s global infrastructure and Gemini’s fintech expertise, this initiative could redefine how card payments settle, offering faster, more transparent, and compliant transactions. The XRPL emerges as a key backbone for institutional adoption, bridging traditional finance with digital innovation.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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