Ripple’s RLUSD Added to Mastercard Settlement Network With Visa, Stripe in Focus

TLDR

• Stripe, Visa and Mastercard are reportedly close to launching a stablecoin platform.
• Mastercard plans settlement support for USDC, PYUSD, USDG, USDP, RLUSD and SoFiUSD.
• Ripple’s RLUSD and XRPL are included in Mastercard’s on-chain settlement rollout.
• Supported networks include Ethereum, Solana, Polygon, Base, Arbitrum and XRPL.
• Coinbase is evaluating participation as its USDC revenue deal with Circle nears renewal.

Stripe, Visa and Mastercard are nearing the launch of a joint stablecoin platform as large payment companies move deeper into regulated digital dollar infrastructure. Coinbase is also evaluating whether to join the initiative, with its existing relationship with Circle remaining a key factor in any decision.

The planned platform comes after two years of activity by major payment firms in stablecoin infrastructure. Stripe acquired stablecoin infrastructure provider Bridge in a $1.1 billion deal, while Visa expanded stablecoin settlement support across multiple blockchains. Mastercard has also widened its digital asset settlement strategy, adding more stablecoins, blockchain networks and payment partners to its global infrastructure.

The push reflects growing demand for settlement systems that operate outside traditional banking hours. Payment companies, banks and fintech firms are seeking options for intraday, weekend and holiday settlement, especially for cross-border payments, treasury movement and merchant payouts.

Mastercard Adds Regulated Stablecoins to Settlement Network

Mastercard announced plans to expand its settlement capabilities to include fiat currency, regulated stablecoins, intraday settlement, weekend settlement, and holiday settlement. The company said the added options will give issuers and acquirers more flexibility in how they manage liquidity and card-based transaction settlement.

The network will support several regulated digital dollars, including Circle’s USDC, PayPal’s PYUSD, Paxos-issued USDG and USDP, Ripple’s RLUSD, and SoFi’s SoFiUSD. These assets will be used as settlement options alongside existing fiat processes.

Mastercard said the stablecoin settlement model will run across supported blockchain networks, including Arbitrum, Base, Canton, Ethereum, Polygon, Solana, Tempo, and the XRP Ledger. The company said the approach is designed to work within its current global payments network while preserving fraud safeguards, security standards, and dispute processes.

ARQ, formerly known as DolarApp, CBW Bank, Cross River, Lead Bank, and Nuvei are expected to be among the first partners supporting stablecoin settlement optionality in the United States and Latin America. Mastercard said more regions, partners, and regulated stablecoins are expected to be added through 2026, subject to regulation.

Stripe, Visa and Coinbase Build Stablecoin Infrastructure

Stripe’s acquisition of Bridge positioned the company more directly in stablecoin payments and business infrastructure. Bridge provides tools that allow companies to move, hold, and settle value using stablecoins, giving Stripe a foundation for broader digital dollar services.

Visa has also expanded stablecoin settlement support across multiple blockchain networks. Its work has focused on using blockchain-based dollars to improve payment settlement and reduce delays in cross-border financial flows.

Coinbase is weighing whether to participate in the broader stablecoin platform. A key issue is its partnership with Circle, the issuer of USDC. Since 2023, Coinbase and Circle have shared revenue connected to USDC. Coinbase keeps interest earned on USDC held on its platform and shares ecosystem revenue with Circle.

That agreement is scheduled for renewal in August, making the timing relevant as Coinbase evaluates its role in new stablecoin payment infrastructure. Coinbase has also introduced white-label stablecoin products and payment tools aimed at businesses.

RLUSD, XRPL, and Polygon Join Stablecoin Settlement Push

Ripple said Mastercard’s support for RLUSD and the XRP Ledger reflects demand for blockchain-based settlement infrastructure that can operate around the clock. The XRP Ledger Foundation said Mastercard plans to expand its integration with XRPL to support always-on settlement and time-sensitive intraday payment flows.

The foundation pointed to XRPL’s near-instant finality, predictable low fees and 14-year operating history as reasons for its use in settlement systems. Ripple said RLUSD’s inclusion in Mastercard’s network adds another regulated stablecoin option for real-world payment flows.

Polygon also joins the list of supported networks. Mastercard’s inclusion of Polygon allows issuers and acquirers to use stablecoin settlement beyond standard banking hours through a blockchain network already used in payments, tokenization and enterprise applications.

Mastercard’s Raj Dhamodharan said the next phase of stablecoin adoption is tied to real-world use, especially in settlement where timing and liquidity are important. The company said the expanded capabilities are intended to give partners more choice in how money moves while keeping regulated digital assets connected to existing payment systems.

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