Ripple Announces Major Partnership With Mastercard To Power Payments With XRP Ledger

Ripple, the cryptocurrency payments company, has announced a major partnership with… MasterCard To explore how the RLUSD stablecoin works on XRP Ledger (XRPL) It can facilitate the settlement of paper card transactions. This collaboration aims to modernize payment infrastructure by integrating blockchain technology with traditional banking services, providing faster, more transparent and fully compatible transaction processing. The move is also expected to put Ripple at the forefront of the global digital asset payment industry, highlighting… Increasing adoption of its payment solutions.

Ripple partners with Mastercard to modernize card payments

In a press release published On November 5, Ripple announced that it would work closely with Mastercard, WebBank, and Gemini to use it. RLUSD on XRP ledger To process Gemini credit card transactions. This will allow the regulated stablecoin to handle blockchain-based settlements between the global Mastercard network and WebBank, the coin’s issuer. Gemini credit card.

This project represents one of the first times that a regulated bank in the United States has settled traditional card transactions using a public blockchain and stablecoin. This effort builds on Ripple’s ongoing work with Gemini and WebBank. Earlier this year, they launched Issuing XRP for Gemini credit cardserves as a model for integrating digital assets with traditional payments.

According to the press release, Sherri Haymond, Global Head of Digital Marketing at Mastercard, acknowledged the collaboration with Ripple, stressing that it will bring regulation Open loop payments in stablecoin In the financial mainstream. Jason Lloyd, president and CEO of WebBank, said the partnership will enable banks to connect blockchain technology with the stability of the traditional financial system. He also added that the alliance will make institutional payments faster and more efficient, while maintaining the security and reliability that customers have come to expect from traditional banks.

Furthermore, Dan Chen, Chief Financial Officer (CFO) at Gemini, noted that the next phase of the collaboration will connect blockchain innovation with… Consumer payments in the real world Through stablecoin settlement. He also stated that it will enhance the way digital assets are used for daily spending.

XRP Ledger and RLUSD to build the future of payments

Ripple also highlighted the broader impact of the partnership between MasterCard, twinAnd WebBank for financial institutions. Monica Long, President of Ripple, said that the collaboration demonstrates the extent to which digital assets are regulated, e.g RLUSD, can enhance settlement operations And paving the way for other card programs to adopt stablecoins. She explained that the XRP Ledger will serve as the backbone for this and other institutional use cases.

It is worth noting, XRPL will provide a reliable foundation for new project, providing fast processing, low costs and more than a decade of reliable performance. Meanwhile, RLUSD, which has grown to Exceeded $1 billion market capitalization Since its launch in late 2024, it will enable seamless digital payments while enhancing liquidity.

Ripple said that in the coming months, partners will begin onboarding RLUSD into XRPL, pending regulatory approvals. At the same time, they will plan to integrate it into Mastercard and WebBank’s existing settlement systems.

Featured image from Medium, chart from Tradingview.com

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