"Credit card payments move trillions of dollars every year, yet the way those transactions settle has barely changed in decades. A December 2025 report from Amplify ETFs highlights a shift that could change that. Since November 6, 2025, Ripple and Mastercard have been running a live pilot that settles real credit card transactions on the XRP ( ) Ledger using RLUSD-Ripple's USD-backed stablecoin."
"Ripple provides the infrastructure that makes on-chain settlement practical. It maintains the XRP Ledger's core technology, issues RLUSD, and supplies the compliance tooling banks require-KYC, AML, and transaction monitoring systems that regulators mandate. RLUSD maintains full 1:1 backing through cash and U.S. Treasury securities held in a New York Trust Company structure with third-party attestation. This matters to institutions because it eliminates the counterparty risk that caused algorithmic stablecoins like Terra's UST to collapse in 2022-banks won't touch unbacked stablecoins, but regulated reser"
Since November 6, 2025, Ripple and Mastercard have run a live pilot settling real credit card transactions on the XRP Ledger using RLUSD, Ripple's USD-backed stablecoin. Gemini credit cards operate normally at point of sale while Mastercard authorizes and merchants receive fiat; settlement occurs on-chain in seconds with RLUSD, finalizing payments immediately rather than waiting one to three days for traditional banking clears. Ripple supplies ledger infrastructure, issues RLUSD, and provides KYC/AML and monitoring tooling. RLUSD is fully backed 1:1 by cash and U.S. Treasury securities held in a New York trust with third-party attestations, reducing counterparty risk.
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