Ripple’s RLUSD Enters Mastercard’s Payment Settlement Pilot

• Ripple and Mastercard are piloting RLUSD on the XRPL to accelerate card settlement.
• Stablecoin settlement trial targets faster clearing and stronger institutional rails.
• RLUSD expansion aligns with Ripple’s push to embed regulated stablecoins in payments.

Ripple has partnered with Mastercard, WebBank, and Gemini to enable on-chain dollar settlements via its stablecoin RLUSD on the XRP Ledger, in conjunction with the Gemini Credit Card, a significant move towards blockchain-based card settlement. The partners will be piloting the potential of RLUSD to enable real-time switches between issuer and network, shortening settlement windows and eliminating the friction of traditional clearing. The XRPL pilot makes it a high-throughput settlement layer for regulated stablecoins used in everyday payments.

New Alliance Drives the Future of Stablecoin Payments

Ripple announced its collaboration with Mastercard, WebBank, and Gemini at Ripple Swell 2025, during which it demonstrated how the program will connect RLUSD to Mastercard’s settlement flow via WebBank, the card issuer. The integration will also allow the stablecoin to flow between the parties rather than relying solely on traditional financial systems. According to Ripple, this initiative marks another step in bringing blockchain technology into mainstream regulated finance, following a surge of institutional interest in stablecoin infrastructure in recent months.

Mastercard indicated that the partnership aligns with its strategy to implement regulated open-region stablecoins across its global network without altering cardholders’ experience. This is not the first time the company has tried a stablecoin pilot, but one with a publicly issued, fully backed asset, such as RLUSD, offered by a U.S.-regulated bank, adds dimension. 

WebBank claimed that banks can serve as the connector between the efficiency of blockchain and the stability of fiat infrastructure. The issuer views RLUSD as a means to reduce the drag on settlement processes without altering risk controls. This makes it one of the first instances of a bank under U.S. jurisdiction testing a live card program settlement using a stablecoin on a public blockchain.

Gemini further mentioned that the pilot extends the company’s relationship with Ripple and WebBank, which led to the introduction of the XRP edition of the Gemini Credit Card. According to Gemini, the program settlement phase with RLUSD indicates that digital assets can be used to finance actual transactions between consumers rather than being limited to trading or rewards. 

RLUSD and XRPL Accelerate Ripple’s Institutional Push

Ripple is confident that RLUSD can help institutions cut operational expenses, reduce counterparty delays, and streamline back-end processes that may take days to materialize. According to Ripple, this partnership was a platform for institutionalizing the adoption of stablecoin settlement across traditional card networks.

XRPL remains an essential part of Ripple’s institutional strategy, as the network offers low fees, deterministic settlement, and consistent uptime over the past 10 years. XRP is the key to the ecosystem’s security and liquidity, and additional assets such as RLUSD increase its use in retail and institutional operations. The global growth of RLUSD beyond $1 billion demonstrates growing demand for controlled stablecoins operating on enterprise-grade infrastructure.

The expanding presence of RLUSD is part of Ripple’s broader reach, including stablecoin issuance, deeper DeFi ties, and cross-border payment corridors that are increasingly adopting blockchain to direct institutional flows. 

Related: Ripple Goes All-In on Institutional Custody with Palisade

Ripple Grows RLUSD Amid Global Stablecoin Rules

The growth of RLUSD is also in line with global trends in regulated stablecoins, including MiCA in Europe and ongoing U.S. debates over federal stablecoin rules. These regulatory trends provide the context of why Mastercard and WebBank are now prepared to consider blockchain-based settlement within the frameworks of their existing operations.

Ripple reinforced its institutional stack at the beginning of the year through acquisitions in treasury management and brokerage services, indicating that it aims to build a full-on-chain financial infrastructure layer. 

The partners will undertake RLUSD-to-XRPL conversions in the next few months and set integration strategies aligned with Mastercard’s and WebBank’s current settlement processes, subject to regulatory approvals. The project will assess the viability of integrating stablecoin flows to address user experience and merchant acceptance.