A new partnership between Mastercard, Ripple, and Gemini marks the beginning of testing credit card payments on a public blockchain using a regulated stablecoin.
Global payment giant Mastercard is joining forces with Ripple and Gemini to bring traditional credit card transactions onto the blockchain. The partnership aims to use RLUSD — a regulated U.S. stablecoin — to settle payments over the XRP Ledger (XRPL). The companies said this could become one of the first examples of a regulated bank completing fiat transactions on a public blockchain.
Under the agreement, Gemini’s RLUSD stablecoin will enable Mastercard’s card network transactions to be settled directly on XRPL. WebBank, the issuer of Gemini’s credit card program, will also participate in the project. Gemini CFO Dan Chen said, “With the Gemini Credit Card, we’re enabling digital assets to be used in everyday spending. Partnering with Mastercard and Ripple takes this further by bringing blockchain-based payments into real-world commerce.”
Mastercard’s blockchain expansion extends beyond payments. The company previously introduced a fiat-to-crypto conversion service to enhance onchain accessibility. This latest collaboration represents a new phase in Mastercard’s stablecoin-driven strategy, combining compliance, innovation, and scalability. On the same day, Mastercard also announced a partnership with the digital identity platform Humanity Protocol to boost access to open finance services — further solidifying its leadership in blockchain-based financial infrastructure.
