The project will test how blockchain-based settlement can be used for traditional fiat card transactions.
It could reshape how money moves between banks, payment networks, and consumers.
A New Chapter in Stablecoin Payments
Ripple’s stablecoin, RLUSD, operates on the XRP Ledger (XRPL), a public blockchain known for its speed, low cost, and reliability. Together with Mastercard and WebBank—the issuer of the Gemini Credit Card—the partners will test RLUSD’s ability to handle settlements between these financial players.
According to Mastercard’s Global Head of Digital Commercialization, Sherri Haymond, the initiative brings “regulated, open-loop stablecoin payments into the financial mainstream.” The company aims to uphold consumer protections and compliance standards while exploring how stablecoins can support future use cases.
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
The move follows a growing trend among major payment networks to experiment with blockchain. Visa, for example, has been piloting stablecoin settlements on the Ethereum blockchain. Ripple’s partnership with Mastercard adds another major player to the list of traditional financial firms embracing this technology.
Gemini, which launched an XRP edition of its credit card earlier this year, sees this collaboration as the next logical step. “We’re showing how stablecoin settlement can connect blockchain innovation to real consumer payments,” said Gemini CFO Dan Chen.
BTS of the panel https://t.co/iE3k8uRU50 pic.twitter.com/ZJM78UmooM
— Gemini (@Gemini) November 5, 2025
Ripple’s president, Monica Long, emphasized that RLUSD’s integration with Mastercard and WebBank showcases how stablecoins can enhance global payments while staying compliant with regulations. RLUSD, issued under New York’s strict regulatory framework, is fully backed by cash and cash equivalents—building confidence among institutions.
More About Ripple
Bitnomial has made history by becoming the first U.S.-regulated exchange to accept stablecoins as margin collateral. The Chicago-based derivatives platform is launching support for Ripple USD (RLUSD), Ripple’s U.S. dollar–backed stablecoin, while also expanding its list of accepted assets to include XRP.
Bitnomial becomes the first U.S. regulated exchange to accept stablecoins as margin collateral.
We’re launching support for RLUSD and expanding our accepted collateral to include XRP.
📰Read: https://t.co/fJsSNeS4Tw pic.twitter.com/skyFwjHd4z
— Bitnomial (@Bitnomial) November 4, 2025
This move marks a major milestone in bridging traditional finance with digital assets, allowing traders to use stablecoins and cryptocurrencies directly for margin requirements. By doing so, Bitnomial is improving capital efficiency and giving institutional investors more flexibility to manage risk in a compliant environment.
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