Ripple partners with Mastercard and WebBank to settle card transactions through XRPL

Ripple is planning to test the use of the RLUSD stablecoin in settling fiat card payments. The new initiative is in partnership with Mastercard, WebBank, and Gemini, and will test the capabilities of the XRPL platform to handle mainstream payments. 

Ripple will collaborate with Mastercard, WebBank, and Gemini to test the capabilities of RLUSD for settling mainstream payments. The XRPL platform will handle the transactions, which will settle fiat card payments. 

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 partnership will enable on-chain settlements for transfers between Mastercard and WebBank, the issuer of the Gemini credit card. 

‘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,’ said Sherri Haymond, Global Head of Digital Commercialization at Mastercard. 

Mastercard believes stablecoins can offer a high-security settlement layer, with full regulatory compliance. 

Ripple tests link between banks and a blockchain settlement layer

Ripple’s collaboration will be the first partnership between a regulated US bank and an on-chain settlement layer. The partnership arrives soon after Erebor bank, a crypto-friendly entity, received preliminary approval for its activity. 

The Gemini Credit Card already launched an XRP edition, serving as a model of integrating digital assets and traditional payment platforms. For the first time, a public blockchain will show its capacity to settle some of the credit card transaction load. 

‘Banks are uniquely positioned to bridge innovative blockchain technology with the stability of the traditional financial system,’ said Jason Lloyd, President and CEO, WebBank. 

According to Monca Long, President of Ripple, regulated stablecoins like RLUSD can enhance settlement, paving the way for other card programs. XRPL will grow its influence as an institutional settlement layer. 

XRPL already processes up to 1,500 transactions per second at a low cost. RLUSD recently expanded to a total supply of $2B, growing more conservatively compared to other stablecoins. 

The actual RLUSD onboarding will be subject to additional regulatory approvals. Later, the partners will plan the integration of the settlement processes of all counterparties. 

XRP recovered after recent market crash

Ripple’s native asset XRP remains in the top 10 of crypto assets. After the most recent market downturn, XRP recovered to $2.31. 

Ripple’s main narrative was the ability of its platform to settle transactions at the speed of international banking. However, the platform has only settled retail transfers. 

The XRPL platform only carries retail transactions, with 7K daily active wallets in November. The chain carried around 20K daily active users in the past few months. The mindshare for Ripple’s token has also fallen by around 10% in the past month. In the long term, Ripple still aims to become influential as a global payment solution, though for now lagging behind other stablecoins like USDT and USDC, widely used for settlements.

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