Mastercard Partners With Ripple and Gemini to Pilot RLUSD Stablecoin Payments on Credit Cards

Mastercard Teams With Ripple and Gemini to Test Stablecoin Payments on Credit Cards

Mastercard, in collaboration with Ripple and crypto exchange Gemini, is set to pilot credit card payments using the stablecoin RLUSD on Ripple’s XRP Ledger (XRPL).

WebBank, the issuer of Gemini’s credit card, will also participate, making this one of the first instances where a regulated US bank could settle traditional card transactions using a stablecoin on a public blockchain.

Could Stablecoins Transform Everyday Payments

The partnership allows purchases made with a Gemini-branded credit card to be settled in RLUSD, with transactions processed between Mastercard and WebBank on XRPL.

Sherri Haymond, Mastercard’s head of digital commercialization, explained,

“Mastercard is integrating regulated, open-loop stablecoins into our global payments network to support consumer choice and safety. We’re enabling stablecoin settlement today while exploring how these assets can enhance future blockchain use cases.”

The initiative reflects the growing interest in stablecoins.

The US government’s more supportive stance on digital assets under President Donald Trump, coupled with new legislation easing regulations, has fueled a surge in the market.

Stablecoins have grown 48% this year to $305 billion and are projected by industry insiders to reach $4 trillion by 2030.

Institutional players such as Zelle, Western Union, Wells Fargo, Santander, and Société Générale are increasingly exploring their use.

Mastercard itself is reportedly in advanced talks to acquire stablecoin startup Zerohash for up to $2 billion.

How Ripple and Gemini Are Pioneering Stablecoin Settlements

Ripple highlights that this marks one of the first instances in the US where a bank uses a regulated stablecoin to settle card transactions on a public blockchain.

It builds on previous collaborations between Ripple, Gemini, and WebBank.

In August, Gemini launched a credit card allowing users to earn cashback in XRP.

RLUSD, Ripple’s year-old stablecoin, is backed by US dollar deposits, short-term US Treasuries, and other cash equivalents, and is integrated across Ripple’s business operations, including the treasury management firm GTreasury.

Speaking at Ripple’s Swell conference in New York, GTreasury CEO Renaat Ver Eecke highlighted the potential efficiency gains for treasury operations:

“What if we could reduce settlement times to minutes? They will immediately come to me and say, ‘Oh my gosh, I have $50 million trapped in two legal entities in Europe that hoard this cash because they’re worried about five, six, seven day settlements.’”

RLUSD currently ranks as the world’s 11th-largest stablecoin, valued slightly above $1 billion.

Gemini Expands Digital Asset Integration Into Daily Spending

Gemini, led by Cameron and Tyler Winklevoss, is pushing further into mainstream card use with digital assets.

CFO Dan Chen said,

“With the Gemini credit card, we are enhancing the way digital assets are integrated into everyday spending.”

Gemini previously launched a Solana edition of its credit card offering up to 4% cashback in SOL tokens and plans to expand into prediction markets using its own derivatives exchange, pending CFTC approval.

Why This Could Shift the Payments Landscape

XRPL, Ripple’s open-source blockchain, is primarily designed to enhance payment efficiency.

By integrating RLUSD into everyday card transactions, Mastercard, Ripple, Gemini, and WebBank are testing a model that could significantly reduce settlement times and improve liquidity for corporate clients and consumers alike.

The companies will begin initial onboarding in the coming months, subject to obtaining required regulatory approvals, signalling a careful but ambitious approach to bringing stablecoins into mainstream payments.