Mastercard Pilots RLUSD Stablecoin on XRP Ledger to Settle Gemini Card Payments with WebBank

Mastercard is piloting Ripple's RLUSD stablecoin on the XRP Ledger to settle Gemini Credit Card transactions in near real time, replacing multiday bank clearing with finality in seconds, the project description states. WebBank, the card issuer, is settling directly with Mastercard in RLUSD on XRPL, marking the first instance of a regulated U.S. bank settling traditional card payments on a public blockchain using a licensed stablecoin. The initiative operates within Mastercard's Crypto Program, which has over 85 partners including Binance, PayPal, Circle, and Paxos, and targets crossborder transfers, B2B payments, and global payouts in more than 200 countries. XRPL is now handling real institutional transaction flows under this controlled pilot, which remains subject to full regulatory rollout while the underlying payment rails are already live.