Ripple has announced a significant collaboration with Mastercard, WebBank, and Gemini, focusing on the exploration of its RLUSD stablecoin on the XRP Ledger (XRPL). This initiative aims to leverage the XRPL for blockchain-based payments between Mastercard and WebBank, signaling a potential mainstream adoption of stablecoin settlements.
Advancing Stablecoin Settlements for Mainstream Adoption
Sherri Haymond, Mastercard’s Global Head of Digital Commercialization, stated that the objective is to utilize Mastercard's extensive global network to facilitate the integration of regulated stablecoin payments into the broader financial landscape. She emphasized a commitment to consumer choice and a principled approach to stablecoins, which includes robust consumer protections, a level playing field, and full regulatory compliance. Haymond noted that this effort enables settlement today while simultaneously exploring future use cases for stablecoins.
“Guided by our commitment to consumer choice and a principled approach to stablecoins, one that emphasizes strong consumer protections, a level playing field, and full regulatory compliance, we’re enabling settlement today while exploring how stablecoins can support future use cases.”
Upon successful implementation, this collaboration is expected to represent one of the first instances where a regulated U.S. bank clears traditional card transactions using a regulated stablecoin on a public blockchain. This endeavor builds upon Ripple's existing partnership with Gemini and WebBank for the Gemini Credit Card, which introduced an XRP edition earlier this year.
Jason Lloyd, WebBank President and CEO, expressed confidence in banks' ability to integrate blockchain technology with the existing financial system. He elaborated that this collaboration provides WebBank with an opportunity to investigate how stablecoins can streamline institutional payments, making them faster and more efficient while upholding the security standards that customers expect.
Regulatory Approval Remains a Key Factor
The group plans to commence initial RLUSD onboarding onto the XRPL in the upcoming months, contingent upon obtaining the necessary regulatory approvals. Following this, integration planning will begin within the existing remittance systems of Mastercard and WebBank.
Ripple underscored the XRP Ledger's suitability for digital transactions, citing its low costs, rapid processing speeds, and a decade of consistent performance as a reliable foundation. Furthermore, XRP plays a crucial role in securing the network and facilitating efficient transactions as new assets like RLUSD gain wider adoption.
This announcement coincides with a period of notable growth in XRP Ledger network activity. During the third quarter of 2025, the average daily transactions saw an increase of 8.9%, rising from 1.6 million in Q2 to 1.8 million in Q3. The total number of active addresses on the network also expanded by 6.1%, reaching 6.9 million. RLUSD has achieved a market capitalization exceeding $1 billion, according to CoinGecko data, more than doubling in value within just three months after standing at $400 million in August.