This year’s edition of the Swell conference in NYC puts stablecoins on the pedestal as MasterCard joins the revolution.
RLUSD, the stablecoin issued by Ripple Labs, is taking the fast track to global adoption. During this year’s edition of the Ripple Swell conference in New York, Ripple’s execs dropped a bombshell in a threefold partnership with famous brands of the financial world.
Ripple’s collab includes MasterCard, Gemini & WebBank, and is focused on bringing open-loop stablecoin payment solutions to the mainstream. WebBank provides industrial banking services, while Gemini has already implemented XRP with consumer utility.
RLUSD: The Next Big Thing For Consumer Payments?
Both MasterCard & WebBank are testing XRP for settlement processes, while working to obtain worldwide regulatory compliance. This aligns with MasterCard’s principal approach to put consumer protection first, bringing RLUSD to unprecedented levels of utility.
Notably, MasterCard’s full regulatory compliance is building a new bridge between traditional banking & the blockchain tech, as banks have been looking for ways to improve the settlement rails in terms of cost effectiveness, transaction efficiency & settlement time, demanded to be immediate by most merchants.
The Ripple x MasterCard x Gemini x WebBank deal quickly garnered media attention, pushing RLUSD to the trending topics on Crypto Twitter. Simultaneously, RLUSD broke through a $1 billion market cap for the first time ever. A month ago, Gemini launched the XRP-powered credit card with a 4% cashback campaign.
Discover DailyCoin’s popular crypto news today:
TOP 3 Popular Traders Who Took Leverage Trading Way Too Far
PEPE’s Price Tanks 79%: Is The Bottom a Golden Entry Point?
