Mastercard Moves to Live RLUSD Settlements on XRP Ledger with Ripple
Ripple, Mastercard, WebBank and Gemini have moved from pilot to execution for blockchain-based card settlements using Ripple’s regulated stablecoin RLUSD on the XRP Ledger. Announced in early February 2026, the program settles Gemini credit card transactions (issued by WebBank) on-chain within seconds, replacing conventional 1–3 day interbank clearing. Mastercard CEO Michael Miebach confirmed the shift to active deployment and said stablecoins will be treated as native currency within Mastercard’s settlement strategy. WebBank provides FDIC-insured banking oversight and compliance controls remain aligned with existing card regulations. RLUSD supply exceeded $1.3 billion by January 2026 amid rising demand for settlement use cases. Mastercard is also pursuing “Agent Pay,” an initiative for AI-driven automated payments, while Ripple expects 5–10% of capital market settlements could move on-chain by end-2026. Key stakeholders: Ripple, Mastercard, WebBank, Gemini. Primary keywords: RLUSD, Ripple, Mastercard, XRP Ledger, stablecoin settlement. Secondary keywords: Gemini Credit Card, WebBank, Agent Pay, on-chain settlement.
Bullish
This development is bullish for market sentiment and for XRP-related on-chain utility. Moving a high-profile payments network (Mastercard) from pilot to live execution demonstrates tangible adoption of stablecoin settlement rails, which increases on-chain transaction demand, utility for RLUSD and the XRP Ledger, and institutional legitimacy for crypto payments. Short-term impacts: positive sentiment may lift XRP and stablecoin-related pairs as traders price in higher transaction volumes and potential demand for XRPL liquidity; increased news-driven inflows and speculation are likely. Volatility may spike around implementation milestones and regulatory commentary. Long-term impacts: if adoption scales as projected (institutional pilots driving 5–10% of capital market settlements on-chain), this could support sustained on-chain throughput, higher demand for XRPL native instruments, and broader acceptance of regulated stablecoins in payments. Comparables: previous announcements where major payment or custody partners moved from pilot to live (e.g., Visa/Mastercard pilots with stablecoins or institutional custody integrations) produced positive price reactions and higher on-chain activity, though effects varied as markets priced in regulatory risk and actual volume realization. Risks: regulatory crackdowns, slower-than-expected merchant/bank uptake, or operational issues during rollout could temper gains. Traders should watch RLUSD supply growth, on-chain settlement volumes on XRPL, Mastercard rollout timelines, and any regulatory statements for position adjustments.