On November 5, 2025, a significant partnership was announced that connects traditional finance with blockchain efficiency. Ripple, Mastercard, WebBank, and Gemini are piloting a program to use Ripple’s regulated RLUSD stablecoin for settling credit card transactions on the XRP Ledger (XRPL).
This initiative, revealed at Ripple’s Swell 2025 event, aims to bring the speed of blockchain to the familiar process of swiping a credit card. The pilot will explore using RLUSD on the XRPL to settle Mastercard transactions, with WebBank—the issuer of the Gemini Credit Card—participating in the test. If implemented, this could transform the current settlement process, which typically takes one to three days, into one that is nearly instantaneous.
Market Responds to Utility Narrative
The market reaction to this news was notably positive. XRP saw a price increase of nearly 5%, a move that market observers directly linked to this strengthening of its practical utility. The rally was supported by a significant surge in trading volume, indicating fresh capital and investor interest driven by the announcement.
This partnership provides a concrete use case that supports the long-term utility narrative for XRP. Each transaction using RLUSD on the XRPL consumes a small amount of XRP to pay for network fees, meaning that increased adoption of the stablecoin could directly drive demand for the native digital asset.
A Milestone for Institutional Adoption
This pilot is a landmark for institutional adoption of digital assets. It represents one of the first instances where a regulated U.S. bank is exploring the use of a regulated stablecoin on a public blockchain to settle traditional card payments. RLUSD, which operates under a New York Trust Charter and is fully backed by cash and cash equivalents, has already surpassed $1 billion in circulation, providing the necessary stability and compliance for large-scale financial operations.
The success of this pilot could pave the way for a new model in payment infrastructure, demonstrating how blockchain technology can enhance existing financial systems by reducing costs and settlement times without disrupting the consumer experience. For institutional players, this signals a tangible step toward the integration of digital assets into mainstream financial services.
