Overview
- The program will test using RLUSD on the XRP Ledger to settle transactions from the WebBank‑issued Gemini Credit Card.
- Mastercard says its network will integrate the settlement layer to bring regulated, open‑loop stablecoin payments into mainstream card flows, according to executive Sherri Haymond.
- WebBank will serve as issuer and oversee settlement functions for the trial, with Gemini participating as the card program partner.
- Ripple states that RLUSD is issued under a New York Department of Financial Services trust charter and fully backed by cash and cash‑equivalent reserves.
- Partners plan initial onboarding to XRPL and subsequent integration planning once approvals are obtained, with the trial assessing XRPL’s capacity (roughly 1,500 TPS) and with reports placing RLUSD’s scale at over $1 billion in circulation, while one outlet cites a $2 billion total supply.