Ripple, a financial technology company that offers crypto solutions for businesses, today announced a collaboration with Mastercard, WebBank, and Gemini. Together they'll explore the use of Ripple USD RLUSD on the XRPL, a public blockchain built for fast and secure payments, to support stablecoin settlement of fiat card transactions.
The initiative is designed to enable RLUSD, operating on the XRPL, to facilitate blockchain-based settlement processes between Mastercard and WebBank, the issuer of the Gemini Credit Card.
"Through our partnerships with Ripple, Gemini, and WebBank, we're using our global payments network to bring regulated, open-loop stablecoin payments into the financial mainstream. Guided by our commitment to consumer choice and a principled approach to stablecoins-one that emphasizes strong consumer protections, a level playing field, and full regulatory compliance-we're enabling settlement today while exploring how stablecoins can support future use cases."
