Ripple Teams With Mastercard, Gemini to Use RLUSD to Settle Credit Card Transactions

Ripple is collaborating with Mastercard, WebBank, and Gemini to utilize its regulated stablecoin, RLUSD, for settling credit card transactions. This initiative aims to initiate RLUSD onboarding in the coming months, pending necessary regulatory approvals. RLUSD is a dollar-backed stablecoin overseen by the New York Department of Financial Services. The plan involves integrating RLUSD into the settlement processes of Mastercard and WebBank to allow for faster and more flexible transactions on the XRP Ledger. By employing RLUSD, the partners expect to enhance liquidity management and improve visibility across the system, thus streamlining financial transactions between trusted organizations. This effort reflects a significant move towards efficient payment processing by integrating cryptocurrency solutions into traditional financial frameworks.

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