A Whimsical Tale of Blockchain and Credit Cards 🍫💸
What the flibbertigibbet you need to know:
- Ripple, Mastercard, WebBank, and Gemini are hatching a scheme to settle credit card payments with RLUSD on the XRP Ledger-like using Oompa-Loompas to count your candy bars 🍬
- This test might be the first time a U.S. bank dares to use a public blockchain for fiat card payments. Spoiler: They’re not using carrier pigeons! 🐦💨
- RLUSD, the golden goose of stablecoins, has magically inflated to $1B+ in circulation. Regulated by New York, because obviously. 🦆
Ripple’s gone and teamed up with Mastercard (MA), WebBank, and Gemini (GEMI) to cook up a batch of blockchain-based credit card settlements. Because why use boring old dollars when you can use a stablecoin that sounds like a secret agent code name? 🕵️♂️
Announced at Ripple’s Swell 2025 event-where else would you announce a scheme involving “regulated stablecoins” and “decentralized payments networks”?-this plan aims to make financial infrastructure about as complicated as a snozzberry. Which is to say, not at all. 🍫
The XRP Ledger (XRPL), a decentralized payments network that’s definitely not run by squirrels, will host RLUSD-a U.S. dollar-backed stablecoin launched in December 2024. Ripple claims it’s already circulating faster than a golden ticket in a chocolate factory. 💸
In the pilot, WebBank (the issuer of the Gemini Credit Card) will try settling Mastercard transactions using RLUSD on XRPL. If this works, it’ll be the first time a U.S. bank dared to use a public blockchain for traditional card payments. Bold move, Cotton. Let’s hope they don’t get eaten by a grue. 🐉
The companies will start onboarding RLUSD to XRPL “in the coming months,” pending regulatory approvals. Because nothing says “excitement” like waiting for a bureaucrat to sneeze approval into a fax machine. 📠
“The goal is to make blockchain as snappy as a credit card swipe,” said Monica Long, Ripple’s president. Because nothing says “consumer-friendly” like replacing three-day settlement times with something faster than a cheetah on roller skates. 🐆
Mastercard, ever the trend-hopper, called this project part of its “broader effort” to integrate digital assets. Gemini and Ripple previously collabed on an “XRP edition” of the Gemini Credit Card. Presumably shaped like a giant XRP coin. 🪙
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2025-11-05 20:47