Ripple, Mastercard, WebBank and Gemini Aim to Change the Fiat World #

Ripple, the company most known for its digital currency XRP, has teamed up with WebBank, Mastercard, and Gemini to leverage Ripple’s stablecoin, RLUSD, on the XRP Ledger (XRPL) to enhance how fiat-based payments are processed through the Gemini card.

Ripple and XRP’s saga is one of the main arcs in the crypto story. The company didn’t just defeat the US Securities and Exchange Commission in a landmark lawsuit that set the stage for the rest of the crypto market, but it also quickly managed to expand its business to different corners of the world.

“Financial institutions around the world are increasingly recognizing the value of blockchain and stablecoins in modernizing how money moves,” said Monica Long, President of Ripple. “This partnership is a meaningful step toward showcasing how regulated digital assets like RLUSD can enhance settlement, paving the way for other card programs to adopt stablecoins for faster, compliant payments. The XRPL will serve as the backbone for these and other institutional use cases that are transforming how financial services operate.”

This moment highlights one of the main pivot points that assimilate new-age fintechs into the finance world, once only dominated by legacy companies such as Mastercard. It also serves as further testament to the ability and potential of stablecoins in the global payment systems.

“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,” said Sherri Haymond, Global Head of Digital Commercialization at Mastercard.