Ripple’s $1B RLUSD Partnership With Mastercard, WebBank, and Gemini Signals a New Era for Fiat Payments
Ripple has with Mastercard, WebBank, and Gemini Trust to test the use of its stablecoin, RLUSD, in fiat payment settlements. The pilot will explore how a blockchain-based stablecoin can facilitate quicker, compliant transactions across established financial systems.
Under the collaboration, the Gemini Credit Card, issued by WebBank, will serve as one of the testing grounds for RLUSD transactions. These payments will be settled through Mastercard’s global network, using the XRP Ledger (XRPL) as the underlying settlement layer. The test aims to showcase how blockchain technology can improve speed and transparency in payment settlements while maintaining strict regulatory oversight.
RLUSD—Ripple’s U.S. dollar-backed stablecoin—is fully regulated under the New York Department of Financial Services (NYDFS) framework. Designed for institutional-grade use, RLUSD maintains one-to-one backing with U.S. dollar reserves and provides a compliant bridge between fiat and blockchain-based systems.
Monica Long, President of Ripple added that:
“This partnership is a meaningful step toward showcasing how regulated digital assets like RLUSD can enhance settlement, paving the way for other card programs to adopt stablecoins for quicker, compliant payments. The XRPL will serve as the backbone for these and other institutional use cases that are transforming how financial services operate.”
This partnership also extends Mastercard’s ongoing efforts to integrate digital assets into traditional payment systems. The company has been experimenting with blockchain settlement answers to enhance real-time payments and improve liquidity management across its network.
For Ripple, the RLUSD pilot represents a strategic step beyond its well-known cross-border payment operations. By introducing a regulated stablecoin into mainstream settlement infrastructure, Ripple viewks to position itself at the center of a new model for financial interoperability between banks, payment networks, and blockchain systems.
While the pilot is still in its ahead phase and subject to regulatory review, it could signal a turning point in how stablecoins are adopted within established financial ecosystems. If successful, the project may set a precedent for other institutions exploring blockchain-based settlement answers under regulatory compliance.
RLUSD Crosses $1B and Expands Into Derivatives
Ripple’s , earning a place among the top 10 U.S. dollar-backed stablecoins less than a year later than launch. The milestone underscores growing trust from both retail and institutional users, as trading activity around the token continues to climb across major platforms.
Building on that momentum, U.S.-regulated derivatives platform as margin collateral—a groundbreaking move that extends the stablecoin’s utility beyond payments. The integration highlights RLUSD’s growing relevance in institutional finance, signaling Ripple’s deeper push into real-world, regulated trading and settlement environments.
