Pilot Program Overview
Mastercard, Ripple, and Gemini, in collaboration with WebBank, have initiated a pilot program on November 5, 2025. This project focuses on settling credit card transactions using Ripple's RLUSD stablecoin on the XRP Ledger within the United States.
This partnership represents a significant fusion of traditional finance with blockchain technology. It highlights the potential of the RLUSD stablecoin to streamline card settlement processes and foster broader adoption across the financial services industry.
Key Participants and Technology
The pilot involves major entities such as Mastercard, which provides its extensive payment network, and Ripple, which contributes its XRP Ledger (XRPL) technology. The Gemini Credit Card, issued by WebBank, is also a key component of this initiative, marking a notable evolution in how card transactions are settled.
The integration aims to fundamentally transform traditional settlement processes. By leveraging the XRPL, transaction times are expected to be reduced from several days to near-instantaneous speeds, which could have a substantial impact on financial sectors worldwide.
Potential Implications and Future Outlook
The successful implementation of this pilot could lead to the displacement of slower, legacy settlement systems, thereby enhancing efficiency for financial institutions. Furthermore, this venture may drive increased adoption and market presence for Ripple and its associated assets, including XRP and RLUSD.
The development of such technologies has the potential to solidify blockchain's role in finance, possibly influencing future industry standards. Adherence to stringent regulatory frameworks will be a critical factor for the sustained success of these initiatives.
Historically, the institutional use of XRPL and RippleNet has demonstrated positive outcomes. This current venture is poised to further promote the integration of blockchain technology within the financial landscape. Sherri Haymond, Global Head of Digital Commercialization at Mastercard, has emphasized the importance of this development for regulated, open-loop stablecoin payments entering the financial mainstream.
"Mastercard’s global network brings regulated, open-loop stablecoin payments into the financial mainstream." — Sherri Haymond, Global Head of Digital Commercialization, Mastercard

