Ripple has launched a pilot program with Mastercard, WebBank, and Gemini to test its RLUSD stablecoin for settling credit card transactions—starting with payments from the Gemini Credit Card, issued by WebBank.
Announced on November 5, the initiative will use RLUSD, Ripple’s fully regulated stablecoin on the XRP Ledger, to explore how blockchain can improve the speed and efficiency of traditional payment settlements.
“Through our partnerships with Ripple, Gemini, and WebBank, we’re using Mastercard’s global payments network to bring regulated stablecoin payments into the financial mainstream,” said Sherri Haymond, Mastercard’s Global Head of Digital Commercialization.
If successful, the program will mark one of the first U.S. bank-led trials to settle mainstream card transactions using a regulated stablecoin on a public blockchain—a significant milestone for institutional adoption.
RLUSD, issued under a New York Department of Financial Services charter, is fully backed by cash and cash equivalents, offering strong compliance and stability. Ripple and its partners plan to begin integrating RLUSD settlement into Mastercard and WebBank systems once regulatory approvals are secured.
Image Credit: Pixabay
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