Ripple has announced a major partnership with Mastercard, WebBank and Gemini to test a new settlement process for card payments using its stablecoin RLUSD. The pilot will run on the XRP Ledger (XRPL) and is designed to show how blockchain can improve the speed and efficiency of traditional card transactions.
Ripple Swell: We’re collaborating with @Mastercard, WebBank, and @Gemini to introduce $RLUSD settlement on the XRP Ledger for fiat credit card payments, starting with the Gemini XRP Credit Card: https://t.co/36yoNBtM9f
This initiative sets a new benchmark for institutional… pic.twitter.com/7UVhCTfuo0— Ripple (@Ripple) November 5, 2025
The announcement was made during Ripple’s SWELL conference. According to the company, this pilot will explore how a regulated stablecoin like RLUSD can be used to settle fiat-based card payments in real time.
What This Pilot Is About
In today’s banking system, card payments may look instant to customers, but the actual settlement between banks can take hours or even days. The pilot aims to simplify this process by using RLUSD on the XRP Ledger, allowing faster and more transparent settlement.
Ripple says RLUSD is a fully regulated, US-dollar backed stablecoin, issued under strict compliance rules. This gives the project a strong foundation for real-world payment testing with major financial partners.
Who Is Involved
Mastercard: Will test how stablecoin settlement can work safely inside its global payment network.
WebBank: The issuer of the Gemini Credit Card; will handle the banking side of the pilot.
Gemini: Provides the card program and digital asset infrastructure.
Ripple: Supplies RLUSD and the blockchain (XRPL) used for on-chain settlement.
All partners say the goal is to understand how blockchain can reduce settlement delays, lower costs and increase transparency for financial institutions.
How It Works
During the test, RLUSD will be used behind the scenes for clearing and settlement. Cardholders will still make payments in regular currency, but the movement of funds between Mastercard, WebBank and other processors will settle on the XRP Ledger.
This reduces the number of middle steps that normally slow down the settlement process in traditional banking systems.
Why This Matters
If the pilot succeeds, it could mark one of the first real use cases where a regulated stablecoin is used in mainstream card payment infrastructure. This may open the door for:
- Faster settlement for banks and merchants
- Lower operational and liquidity costs
- Transparent tracking of transactions on a public blockchain
- More reliable cross-border settlement in the future
Financial experts say this could be a major turning point for digital assets entering traditional finance.
Current Status
The project is still in the early pilot phase.
Testing, compliance checks and technical integration are underway. It is not yet available for public or customer use. Ripple and its partners plan to expand the pilot gradually over the coming months.
Challenges Ahead
While the concept is promising, several hurdles remain:
- Integrating blockchain with existing banking systems is still complex
- Regulations vary across regions, which could slow global rollout
- Consumers will not notice major changes until the technology scales
Even so, the partnership represents a notable step toward blending blockchain with mainstream financial networks.
Ripple’s collaboration with Mastercard, WebBank and Gemini is an important experiment for the future of payment technology. By using RLUSD on the XRP Ledger, the companies hope to prove that stablecoin-based settlement can be faster, cheaper and more efficient than today’s banking system.
Though still a pilot, this project could shape the next generation of digital payment infrastructure if it continues to progress successfully.
