Core Insights - Ripple is collaborating with Mastercard, WebBank, and Gemini to test the use of its RLUSD stablecoin for settling fiat credit card transactions on a public blockchain [1][4] - The initiative aims to demonstrate how regulated stablecoins can enhance traditional financial infrastructure while maintaining compliance and safety [1][4] Group 1: Project Overview - The project utilizes the XRP Ledger (XRPL) and RLUSD, a U.S. dollar-backed stablecoin introduced by Ripple in December 2024, which is fully backed by cash and cash equivalents and has surpassed $1 billion in circulation [2] - WebBank, the issuer of the Gemini Credit Card, will explore settling Mastercard transactions using RLUSD on the XRPL, marking a potential first for a regulated U.S. bank to settle traditional card payments with a regulated stablecoin on a public blockchain [3] Group 2: Implementation and Impact - The onboarding of RLUSD to the XRPL is set to begin in the coming months, pending regulatory approvals, and if successful, could serve as a model for other card programs considering blockchain-based settlement [4] - The pilot aims to replace slower and more expensive settlement processes currently used by banks, potentially allowing for near-instant fund transfers, especially for cross-border transactions [5] Group 3: Industry Context - Mastercard has previously explored stablecoin payments and views this project as part of its broader strategy to integrate regulated digital assets into its global network [6] - Ripple and Gemini have collaborated earlier this year on an "XRP edition" of the Gemini Credit Card, indicating ongoing partnerships in the digital asset space [6]

Core Insights - Mastercard is close to acquiring Zerohash for a deal valued between $1.5 billion and $2 billion, marking its significant entry into stablecoin infrastructure [1] - The acquisition aligns with the trend of global payment firms seeking new revenue streams from blockchain-based settlement, facilitated by clearer regulatory standards in the US and Europe [1] Group 1: Acquisition Details - Zerohash provides API-driven tools for banks, fintechs, and brokerages to facilitate crypto trading, tokenization, and stablecoin transfers, with over $2 billion in tokenized fund flows reported in April [2] - Mastercard aims for direct control over the infrastructure rather than a loose integration, as part of its strategy to scale regulated digital-asset services [3] Group 2: Strategic Implications - The acquisition could transform how Mastercard handles cross-border transactions, allowing it to settle stablecoin transfers internally without relying on external partners [6] - This shift indicates a strategic move away from consumer-facing wallets towards building the foundational infrastructure for regulated blockchain payments [5]