Ripple and Mastercard Test Secret Stablecoin System for Card Payments - Blockonomi

by · Blockonomi

TLDR

Table of Contents

Toggle

  • Ripple has formed a partnership with Mastercard, WebBank, and Gemini to test RLUSD stablecoin payments.
  • The collaboration aims to use Ripple’s XRPL platform to process real-time fiat card settlements.
  • Mastercard will integrate Ripple’s technology to explore regulated on-chain payment capabilities.
  • WebBank will act as the issuer for the Gemini credit card involved in the trial.
  • Ripple’s RLUSD stablecoin currently holds a supply of two billion dollars and continues to grow steadily.

Ripple has announced a new partnership with Mastercard, WebBank, and Gemini to test RLUSD stablecoin payments. The trial will evaluate the XRPL platform’s ability to handle real-time fiat card settlements securely and efficiently. Ripple aims to demonstrate how blockchain can support mainstream financial transactions.

Ripple Partners with Mastercard for On-Chain Settlements

Ripple will collaborate with Mastercard and WebBank to enable on-chain settlements for fiat card payments. The test will assess how RLUSD performs within Mastercard’s global payment network. It will also examine compliance and operational stability for regulated financial institutions.

Mastercard plans to use Ripple’s XRPL platform to process the settlement layer of these payments. This integration will focus on bridging blockchain efficiency with traditional financial frameworks. The companies expect the system to offer fast and transparent settlements for participating institutions.

Sherri Haymond, Global Head of Digital Commercialization at Mastercard, confirmed the partnership’s goal.

“Through our partnerships with Ripple, Gemini, and WebBank, we’re using our global payments network to bring regulated, open-loop stablecoin payments into the financial mainstream,” she said.

Mastercard believes stablecoins can deliver secure, compliant transaction layers for banks and issuers.

RLUSD Stablecoin Enters Regulated Payment Testing

Ripple’s RLUSD stablecoin will be central to this pilot program. The coin will support settlements between Mastercard and WebBank, the issuer of the Gemini credit card. These transactions will mark the first use of a regulated on-chain stablecoin for fiat settlement.

The RLUSD token currently holds a total supply of $2 billion, growing steadily in the stablecoin market. Ripple intends to showcase RLUSD as a reliable digital asset for large-scale institutional transactions. The company maintains that RLUSD’s controlled expansion reflects its focus on compliance and long-term stability.

Jason Lloyd, President and CEO of WebBank, emphasized the bank’s role. “Banks are uniquely positioned to bridge innovative blockchain technology with the stability of the traditional financial system,” he said. WebBank will oversee settlement functions, ensuring regulatory oversight during testing.

XRPL to Demonstrate Institutional Settlement Capacity

The XRPL platform will process all transactions in this trial. Ripple developed XRPL to handle up to 1,500 transactions per second with minimal cost. The system will now be evaluated for institutional-grade payment efficiency.

Ripple President Monica Long said regulated stablecoins like RLUSD could enhance financial settlement systems. She explained that Ripple’s goal is to expand XRPL’s institutional presence through compliance-driven innovation. The company plans to integrate future programs once approvals are granted.

The XRPL network currently supports around 7,000 active wallets daily. Ripple continues to maintain XRP as one of the top 10 crypto assets by market value. Following recent recovery, XRP traded at $2.31, signaling steady market interest.

Regulators will still need to approve RLUSD onboarding before full deployment. Ripple and its partners will coordinate settlement processes once approval is granted. The trial represents the first collaboration between a regulated U.S. bank and an on-chain settlement network.

✨ Limited Time Offer

Get 3 Free Stock Ebooks

Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.

  • Top 10 AI Stocks - Leading AI companies
  • Top 10 Crypto Stocks - Blockchain leaders
  • Top 10 Tech Stocks - Tech giants

📥 Get Your Free Ebooks

Advertise Here