Ripple collaborates with Mastercard (MA.US) and Gemini (GEMI.US) to pilot stablecoin settlement on XRPL.

Cryptocurrency company Ripple announced that it has partnered with Mastercard, cryptocurrency exchange Gemini Space Station, and WebBank to pilot RLUSD stablecoin settlements on the XRP Ledger. Through this partnership, the Ripple stablecoin RLUSD running on XRPL will support the blockchain process between Mastercard and Gemini credit card issuer WebBank. "After the project is implemented, this will become one of the first cases of a regulated bank in the United States using a regulated stablecoin for settling traditional credit card transactions on a public chain," Ripple emphasized in a statement, showcasing the increasing trust in blockchain technology in real-world payment scenarios. Gemini offers a Mastercard credit card XRP version issued by WebBank. The statement pointed out that since the launch of RLUSD last year, the circulation volume of this USD-pegged token has exceeded $1 billion, with its use cases covering decentralized finance platforms, Ripple's cross-border payment solutions, and institutional alliance networks.