Mastercard partners with Ripple and Gemini to explore blockchain payment innovations

According to The Block, Mastercard is collaborating with Ripple and Gemini to explore the use of the RLUSD stablecoin on the XRPL blockchain for settling card transactions. This partnership will be one of the first cases of regulated U.S. banks using public blockchains and regulated stablecoins to settle traditional card transactions.

Gemini has launched an XRP credit card issued through WebBank and plans to participate in the RLUSD settlement program. Additionally, Mastercard has recently partnered with Chainlink to allow consumers to convert fiat to cryptocurrency directly on-chain and has reached an agreement with Humanity Protocol to provide users with credit and loan services based on open financial technology.