Mastercard, Ripple and Gemini explore settling card transactions using XRPL

Mastercard, in partnership with Gemini and Ripple, is exploring the use of RLUSD stablecoins on the XRP Ledger (XRPL) to settle traditional fiat card transactions. This initiative, which also involves WebBank (the issuer of Gemini's credit card), aims to be one of the first instances where a regulated U.S. bank settles card transactions using a regulated stablecoin on a public blockchain. This move aligns with broader crypto platform efforts to integrate digital assets into everyday spending and generate new revenue streams. Ripple advocates for the open-source XRPL, which is designed to enhance payment capabilities. This collaboration follows Gemini's recent launch of a Solana edition credit card and Mastercard's ongoing expansion into digital asset partnerships, such as its collaboration with Chainlink for on-chain crypto-fiat conversions.

(Source：The Block)