Mastercard joins Ripple and Gemini to test RLUSD on XRPL

The partnership aims to enable settlements using the Ripple USD (RLUSD) stablecoin for Mastercard and WebBank payments.

Ripple has announced that it is partnering with Mastercard, WebBank and Gemini to explore the use of its RLUSD stablecoin on the XRP Ledger (XRPL).

The initiative is designed to enable RLUSD to conduct blockchain-based payments between Mastercard and WebBank.

Stablecoin settlements are going mainstream

Sherri Haymond, Global Head of Digital Commercialization at Mastercard, said in a Nov. 5 press release that the goal is to use its global network to bring regulated stablecoin payments into the financial mainstream.

“Guided by our commitment to consumer choice and a principled approach to stablecoins, one that emphasizes strong consumer protections, a level playing field and full regulatory compliance, we are enabling settlement today while exploring how stablecoins can support future use cases,” she noted.

Once implemented, it will be one of the first collaborations where a regulated US bank settles traditional card transactions using a regulated stablecoin on a public blockchain. This effort also expands Ripple’s existing work with Gemini and WebBank on the Gemini Credit Card, which launched an XRP edition earlier this year.

WebBank President and CEO Jason Lloyd stated that banks are well positioned to integrate blockchain technology with the traditional financial system. He explained that the partnership will allow their company to explore how stablecoins can facilitate faster and more efficient institutional payments, while maintaining the security customers expect.

Plans remain subject to regulatory approval

In the coming months, the group will begin initial RLUSD onboarding on XRPL after receiving the necessary regulatory green light, and will begin integration planning within the existing Mastercard and WebBank remittance systems.

Ripple highlighted how XRPL’s low costs, fast processing and decade of reliable performance provide a trusted foundation for digital transactions. On the other hand, XRP also helps secure the network and supports efficient transactions as new assets such as RLUSD expand its use.

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The announcement comes as the XRP Ledger continues to show growth in network activity. During the third quarter of 2025, average daily transactions increased by 8.9% from 1.6 million in the second quarter to 1.8 million in the third quarter. The total number of addresses on the network also grew by 6.1% to 6.9 million. RLUSD has also surpassed a $1 billion market cap per CoinGecko data, more than doubling in just three months after surging $400 million in August.