This project will test how blockchain-based payments can be used for traditional fiat card transactions.
It could change the way money moves between banks, payment networks and consumers.
A new chapter in stablecoin payments
Ripple’s stablecoin, RLUSD, runs on the XRP Ledger (XRPL), a public blockchain known for its speed, low cost, and reliability. In collaboration with WebBank, issuer of Mastercard and Gemini credit cards, the partners will test RLUSD’s ability to process payments between these financial players.
The initiative will bring “regulated open-loop stablecoin payments into the financial mainstream,” said Shelley Haymond, Mastercard’s global head of digital commercialization. The company aims to maintain consumer protection and compliance standards while exploring how stablecoins can support future use cases.
Ripple Swell: In collaboration with @mastercardWebbank, and @Gemini introduce $RLUSD Payments on the XRP Ledger for fiat credit card payments, including Gemini XRP Credit Card:
This initiative sets a new benchmark for organizations… 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, is piloting stablecoin payments on the Ethereum blockchain. Ripple’s partnership with Mastercard adds another major player to the list of traditional financial companies adopting this technology.
Gemini, which launched an XRP version of its credit card earlier this year, sees this partnership as the next logical step. “We are demonstrating how stablecoin payments can connect blockchain innovation to real consumer payments,” said Gemini Chief Financial Officer Dan Chen.
Panel BTS pic.twitter.com/ZJM78UmooM
— Gemini (@Gemini) November 5, 2025
Ripple President Monica Long emphasized that RLUSD’s integration with Mastercard and WebBank shows how stablecoins can power global payments while remaining compliant with regulations. RLUSD is issued under New York’s strict regulatory framework and is fully backed by cash and cash equivalents, building trust among financial institutions.
Learn more about Ripple
Bitnomial made history by becoming the first US-regulated exchange to accept stablecoins as margin collateral. The Chicago-based derivatives platform will begin supporting Ripple’s USD-backed stablecoin, Ripple USD (RLUSD), while also expanding its list of accepted assets to include XRP.
Bitnomial becomes the first US regulated exchange to accept stablecoins as margin collateral.
We are launching support for RLUSD and expanding accepted collateral to include XRP.
📰Read: pic.twitter.com/skyFwjHd4z
— Bitnomial (@Bitnomial) November 4, 2025
This move marks a major milestone in bridging traditional finance and digital assets, allowing traders to directly use stablecoins and cryptocurrencies for their margin requirements. This allows Bitnomial to improve capital efficiency and enable institutional investors to manage risk more flexibly in a compliant environment.
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