Ripple, Mastercard, WebBank, and Gemini Pilot RLUSD Stablecoin for Credit Card Settlement

Ripple, Mastercard, WebBank, and Gemini Pilot RLUSD Stablecoin for Credit Card Settlement

Mastercard partners with Gemini, Ripple, and WebBank to test RLUSD stablecoin settlements on XRPL, paving the way for regulated bank-backed blockchain payments in mainstream card networks.

XRP
RLUSD

Fact Check
The assessment of 'likely_true' with high confidence is based on the overwhelming and consistent evidence from multiple, credible primary sources. All provided sources, ranging from major financial news outlets like Yahoo Finance to specialized industry publications like FinanceFeeds and Decrypt, corroborate the core elements of the statement. Specifically, the sources confirm a partnership involving Ripple, Mastercard, WebBank, and Gemini. They explicitly state that this collaboration is for a pilot program to test the use of Ripple's RLUSD stablecoin for the settlement of Mastercard credit card transactions, with WebBank identified as the card issuer for Gemini. The purpose of the pilot and the specific technology (RLUSD stablecoin on the XRP Ledger) are consistently reported across the board.There are no contradictions in the evidence. Even the lowest authority source, a Reddit post, aligns perfectly with the information presented by high-authority publications. Some sources add the nuance that the program is 'pending regulatory approval,' which provides context on the program's status but does not invalidate the claim that a pilot is being conducted, as such initiatives often begin in exploratory phases while awaiting final clearance. The collective weight and unanimity of the evidence strongly support the truthfulness of the statement.
Summary

On Nov. 6, Mastercard confirmed in an official statement its partnership with Gemini and Ripple to pilot RLUSD stablecoin settlements for card transactions on the XRP Ledger. WebBank, issuer of the Gemini Credit Card, participates as the first regulated U.S. bank to use a stablecoin for traditional card settlement on a public blockchain. RLUSD, Ripple’s stablecoin backed by U.S. dollar reserves and regulated under New York’s Trust Charter, entered circulation in December 2024 with over $1 billion outstanding. The initiative aims to validate the use of regulated stablecoins within established payment infrastructures.

Terms & Concepts
  • Stablecoin: A cryptocurrency pegged to a stable asset, such as the U.S. dollar, to minimize volatility.
  • XRP Ledger (XRPL): Ripple’s decentralized blockchain network designed for fast, low-cost payments.
  • RLUSD: Ripple’s U.S. dollar-backed stablecoin, launched in December 2024 under New York’s Trust Charter and fully backed by cash and equivalents.