Tag: integrating blockchain technology

The post Ripple, Mastercard & Gemini Pilot RLUSD for Faster Fiat Payments appeared com. Ripple Sets the Ball Rolling to Pilot RLUSD Stablecoin for Fiat Settlements At this year’s Swell conference, Ripple unveiled a groundbreaking partnership with Mastercard, WebBank, and Gemini to pilot the use of its U. S. dollar-backed stablecoin, RLUSD, for settling fiat credit card transactions on the XRP Ledger (XRPL). Notably, this move represents a major leap toward integrating blockchain technology into mainstream financial systems, bridging the gap between digital asset innovation and traditional payment infrastructure. The pilot will launch with the Gemini Credit Card, issued by WebBank, to test RLUSD’s ability to deliver faster, cheaper, and more efficient fiat settlements. By integrating the stablecoin into Mastercard’s vast payment network, the initiative aims to demonstrate how blockchain can enhance transaction speed, transparency, and liquidity across institutional payment systems. A Bridge Between Blockchain and Banking Executives from the participating firms described the initiative as a unified step toward merging traditional finance’s stability with blockchain’s speed and interoperability. Fully backed by U. S. dollar reserves, Ripple’s RLUSD acts as a secure digital settlement layer, delivering instant, compliant cross-network transfers that enhance liquidity and trust across payment systems. Jason Lloyd, President and CEO, WebBank welcomed this development and stated, “Our collaboration with Mastercard, Gemini, and Ripple, allows us to explore how stablecoins like RLUSD can make institutional payments faster and more efficiently while maintaining the security and dependability customers expect from banks.” Enhancing Institutional Payments The XRP Ledger’s architecture enables near-instant settlements, ultra-low fees, and high scalability, making it ideal for testing stablecoin-powered credit card transactions. For Mastercard and WebBank, the collaboration could revolutionize how funds move across banks, merchants, and issuers, eliminating settlement delays and easing liquidity constraints in global payment networks. Furthermore, the integration of RLUSD transforms Gemini’s credit card into a proving ground for next-generation payments, showcasing how blockchain-backed stablecoins can power everyday.