Mastercard, Ripple Explore Stablecoin Settlement for Gemini Credit Card Transactions
Mastercard, Ripple, Gemini, and WebBank Collaboration
- Four companies are collaborating to use Ripple's RLUSD stablecoin for settling fiat credit card transactions.
- The partnership was announced at the Ripple Swell 2025 conference in New York.
- This marks one of the first times a regulated US bank will use a regulated stablecoin on a public blockchain for card settlements.
Technical Implementation
- WebBank will utilize the XRP Ledger (XRPL) for processing RLUSD-based transactions.
- The collaboration expands the existing relationship between WebBank and Gemini, which introduced an XRP edition credit card earlier this year.
RLUSD Stablecoin Developments
- RLUSD, backed by USD, has reached a $1 billion market cap since its late 2024 launch.
- The stablecoin is issued under the New York Department of Financial Services Trust Company Charter.
- Initial onboarding on the XRPL is planned, pending regulatory approvals.
Ripple's Institutional Expansion
- Ripple secured $500 million funding at a $40 billion valuation from Fortress Investment Group.
- The company launched Ripple Prime brokerage, supporting institutional trading for XRP and RLUSD.
Ripple Swell 2025 Conference Highlights
- The event featured over 600 participants from more than 40 countries.
- Key topics included tokenized assets, stablecoin settlements, crypto ETFs, and digital asset policy.
- Notable speakers included Nasdaq CEO Adena Friedman and BlackRock's Maxwell Stein.