Mastercard Pilots RLUSD Payments on XRP Ledger for Gemini Card
Mastercard has launched a pilot to settle Gemini credit card purchases on the XRP Ledger using the RLUSD stablecoin. The trial is backed by Ripple, Gemini, and WebBank. It marks one of the first US-regulated bank transactions on a public blockchain.
Under the program, WebBank will issue the Gemini Card. Payments will be facilitated and settled via RLUSD on the XRP Ledger. This RLUSD stablecoin settlement offers faster, transparent, and fully compliant stablecoin payments compared to traditional rails. The partners aim to integrate RLUSD into Mastercard and WebBank systems, pending regulatory approval. They also plan to leverage supportive legislation like the US GENIUS Act. The initiative enhances liquidity and sets a framework for broader blockchain-based card programs.
Bullish
The pilot establishes a use case for stablecoin payments on the XRP Ledger, signaling growing institutional confidence and real-world demand. This adoption can boost network transaction volume, leading to higher fee burns and enhanced utility for XRP. In the short term, traders may see increased interest in XRP as a network token, while in the long term, sustained usage by institutions like Mastercard and Gemini can underpin more stable growth. Overall, the news is likely to have a bullish effect on XRP’s market perception and demand.