Ripple is working with Mastercard, WebBank, and Gemini to investigate the implementation of its RLUSD stablecoin on the XRP Ledger (XRPL). This initiative aims to facilitate blockchain-based payments between Mastercard and WebBank.

Stablecoin Settlements to Go Mainstream

Sherri Haymond, Mastercard’s Global Head of Digital Commercialization, mentioned in a press release dated November 5 that their objective is to leverage their global network to integrate regulated stablecoin transactions into the mainstream financial system.

“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,” she noted.

Once operational, this partnership will be one of the first wherein a regulated U.S. bank processes traditional card transactions via a regulated stablecoin on a public blockchain. This collaboration also complements Ripple’s ongoing work with Gemini and WebBank regarding the Gemini Credit Card, which introduced an XRP edition earlier this year.

WebBank President and CEO Jason Lloyd expressed that banks are well-suited to merge blockchain technology with traditional financial systems. He elaborated that this partnership allows them to discover how stablecoins can streamline and enhance institutional transaction speeds while ensuring the security expected by customers.

Plans Remain Subject to Regulatory Approval

Over the following months, this collaboration is set to commence the onboarding of RLUSD on XRPL, pending necessary regulatory approvals, as well as initiate integration planning within Mastercard and WebBank’s remittance frameworks.

Ripple highlighted XRPL’s low transaction costs, rapid processing capabilities, and long-standing reliable performance as significant advantages for digital transactions. Additionally, XRP is expected to secure the network and support efficient operations as new assets like RLUSD gain traction.

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This announcement arrives amid growing network activity on the XRP Ledger. Throughout Q3 2025, the average number of daily transactions saw an 8.9% increase, rising from 1.6 million in Q2 to 1.8 million in Q3. The number of addresses on the network also experienced a growth rate of 6.1%, reaching a total of 6.9 million. Additionally, RLUSD’s market capitalization has surpassed $1 billion, more than doubling within three months after increasing from $400 million in August.