New Payment Rails: Mastercard Taps XRPL Blockchain for Card Settlement Pilot

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Mastercard is exploring the use of the XRPL blockchain as a new settlement layer for card transactions through a new partnership with Ripple and crypto exchange Gemini. The collaboration will focus on using a regulated stablecoin, RLUSD, to settle fiat card payments.

This pilot represents a foundational shift, moving card settlement from purely traditional banking systems to a public blockchain.

By working with WebBank, the issuer of the Gemini Credit Card, the consortium aims to demonstrate that blockchain-based settlement can be fast, secure, and compliant. The initiative underscores a broader industry trend of major financial players investigating decentralized ledgers to modernize the backbone of global payments.