Overview
- Pilot will route settlement for the WebBank‑issued Gemini Credit Card through RLUSD on the public XRP Ledger within Mastercard’s network.
- Program remains pre‑rollout pending regulatory approvals and formal partner onboarding, with integration planning to follow once cleared.
- RLUSD is described as dollar‑backed and issued under a New York Department of Financial Services trust charter to meet institutional compliance needs.
- Partners aim to test faster, lower‑cost and more auditable issuer‑merchant settlement without changing the cardholder experience, according to Mastercard’s Sherri Haymond.
- Coverage notes RLUSD circulation at over $1 billion, with some reports citing $2 billion, and frames the effort as among the first involving a U.S. regulated bank settling on a public blockchain.