Ripple Partners with Mastercard, WebBank, and Gemini to Power Stablecoin Settlements

Highlights:

• Ripple partners with Mastercard, WebBank and Gemini to power stablecoin settlements on the XRPL.
• The collaboration will assess how RLUSD will handle the settlement between Mastercard and WebBank.
• Ripple noted that the partnership will show how RLUSD can help banks and payment companies complete transactions more efficiently.

Cross-border fintech firm Ripple has partnered with Mastercard, WebBank, and Gemini to bring its RLUSD stablecoin to real-world card payments. The collaboration announced in a press release on November 5 will assess the use of RLUSD for settling fiat card payments on the XRP Ledger (XRPL), including handling settlements between Mastercard and WebBank, Gemini’s Credit Card issuer.

Overall, the collaboration aims to show banks and payment firms how RLUSD can settle transactions faster and cheaper, while remaining fully compliant. Known for its low costs, speed, and reliability, the XRPL has been running for over a decade, making it a trusted foundation for digital payments. On its part, XRP is Ripple’s digital asset that secures the network and supports other assets, including the RLUSD.

Launched in 2024, the RLUSD is a US dollar-backed stablecoin issued under the New York Department of Financial Services (NYDFS) Trust Company Charter. The stablecoin is also fully backed by cash and cash-equivalent reserves. In less than a year, RLUSD has exceeded $1 billion in circulation, with remarkable adoption across Decentralized Finance (DeFi) platforms, Ripple’s cross-border payment services, and several institutional partners.

Ripple Swell: We’re collaborating with @Mastercard, WebBank, and @Gemini to introduce $RLUSD settlement on the XRP Ledger for fiat credit card payments, starting with the Gemini XRP Credit Card: https://t.co/36yoNBtM9f

This initiative sets a new benchmark for institutional… pic.twitter.com/7UVhCTfuo0

— Ripple (@Ripple) November 5, 2025

Meanwhile, the partnership move follows Ripple’s recent acquisition of Palisade, a crypto custody and wallet provider. On November 4, Crypto2Community reported the acquisition as part of Ripple’s ongoing efforts to boost its custody solutions. The move also aims to make Ripple the platform of choice for companies managing digital assets with large transaction volumes.

Top Executives React to the Partnership

Sherri Haymond, Mastercard’s Global Head of Digital Commercialization, said the integration will bring stablecoin payments into everyday financial systems. She added that Mastercard wants to deliver faster, compliant payment options to customers. Haymond believes Mastercard’s partnership with Ripple and other companies will help explore how stablecoins can fit into existing settlement systems. If approved and launched, it will be one of the few times a US bank will settle card transactions using a regulated stablecoin on a public blockchain.

Ripple’s latest initiative builds on its earlier partnership with Gemini and WebBank, which launched an XRP credit card earlier this year. Reacting to the partnership, Jason Lloyd, President and CEO of WebBank, stated that banks can leverage blockchain technology to enhance the reliability of the traditional financial system. He also agreed that stablecoins like RLUSD can improve institutional payments.

Dan Chen, Gemini’s Chief Financial Officer, stated:

“In this next phase of the collaboration, we’re demonstrating how stablecoin settlement can be applied to an active card program, connecting blockchain innovation to real consumer payments.”

Monica Long, Ripple’s President, said the partnership shows banks and payment firms are beginning to recognize the benefits of blockchain and stablecoins. “The XRPL will serve as the backbone for these and other institutional use cases that are transforming how financial services operate,” she added.

LATEST: 💳 Credit card giant Mastercard is partnering with Ripple, Gemini, and WebBank to pilot RLUSD stablecoin settlements for credit card transactions on the XRP Ledger. pic.twitter.com/q60SsglzMG

— CoinMarketCap (@CoinMarketCap) November 6, 2025

XRP Spikes as Ripple Announces Partnership with Mastercard

At the time of writing, XRP is trading at $2.33, following a 3.7% upswing in the past 24 hours, with a 24-hour trading volume of $5.67 billion. In the past week, XRP dropped 9.4%, fluctuating between $2.12 and $2.58. XRP also declined by 21.9% in the past month, suggesting that its recent upswing might be short-lived.