Mastercard Integrates RLUSD Stablecoin into Global Settlement Network
- Mastercard added Ripple’s RLUSD stablecoin to its settlement network on June 3.
- The network now supports multiple stablecoins, including USDC and PYUSD, across various blockchains like Arbitrum, Ethereum, and XRPL.
- Early users of this service include ARQ, CBW Bank, Cross River, Lead Bank, and Nuvei.
- Settlements will be available in the United States and Latin America initially, with plans for further expansion later this year.
- Raj Dhamodharan from Mastercard emphasized the importance of real-world utility in stablecoin adoption for settlements.
Mastercard’s integration of RLUSD into its global settlement network signifies a notable shift towards utilizing regulated stablecoins for financial transactions. This move aims to enhance flexibility in settling card-based transactions around the clock.
With RLUSD now part of Mastercard’s offerings alongside USDC and PYUSD, the company is positioning itself at the forefront of stablecoin adoption for real-time payments.(Source)
