Gemini Adds RLUSD to XRPL: Major Exchange Embraces Ripple's Growing Stablecoin

Gemini, one of America's largest cryptocurrency exchanges, has announced support for Ripple's USD stablecoin (RLUSD) on the XRP Ledger (XRPL), marking another significant milestone for Ripple's rapidly expanding stablecoin ecosystem. The integration enables near-instant settlement and lower transaction fees for users trading RLUSD on the exchange's platform.

The Partnership Behind the Integration

This announcement builds on Gemini's existing collaboration with Ripple, Mastercard, and WebBank. In November 2025, these financial institutions launched a pilot program to test RLUSD settlement for traditional card payments directly on XRPL. The pilot represents one of the first attempts by a regulated U.S. bank to use a public blockchain and compliant stablecoin for conventional card transaction settlement.

According to Dan Chen, Gemini's CFO, "We're demonstrating how stablecoin settlement can be applied to an active card program, connecting blockchain innovation to real consumer payments."

The partnership leverages XRPL's architecture, which validates transactions in approximately 3-5 seconds at a fraction of traditional processing costs. This combination of speed, low latency, and cryptographic transparency positions RLUSD as a practical instrument for financial settlement.

RLUSD's Explosive Market Growth

Ripple's stablecoin has experienced remarkable expansion since its December 2024 launch. RLUSD's market capitalization now approaches $1.3 billion, representing approximately 1,278% year-to-date growth as of December 2025. The stablecoin currently ranks among the top 15 stablecoins by market cap and has processed over 2 million transactions across supported networks.

The rapid adoption stems largely from Ripple's strategic multi-chain deployment across both the XRP Ledger and Ethereum. Currently, approximately 80% of RLUSD's circulating supply resides on Ethereum, leveraging that platform's deep liquidity pools and established DeFi ecosystem. Meanwhile, the XRP Ledger portion enables fast settlement at minimal transaction costs, creating distinct value propositions for different user segments.

Crypto analyst Wendy O emphasized the importance of this approach, stating that "Ripple's multi-chain deployment is a smart strategy that many crypto projects could learn from." This interoperability aligns with broader industry trends favoring cross-chain functionality for sustained growth.

Technical Infrastructure and Regulatory Foundation

The XRPL integration provides several operational advantages. The network's unique consensus protocol requires 80% of validators to agree before including blocks on the mainnet, enabling settlement finality in 3-5 seconds. This compressed timeline replaces traditional multi-day clearing cycles with near-instant, on-ledger settlement.

WebBank's participation as a licensed U.S. financial institution provides crucial regulatory foundation. The bank issues RLUSD tokens in accordance with regulated guidelines, ensuring each token is backed by at least an equivalent amount of U.S. dollars and cash equivalents. BNY Mellon provides custody services for RLUSD, further reinforcing asset backing and regulatory compliance.

Sherri Haymond, Global Head of Digital Commercialization at Mastercard, explained the partnership's significance: "Through our partnerships with Ripple, Gemini, and WebBank, we're using our global payments network to bring regulated, open-loop stablecoins to institutional settlement processes."

XRP/Ripple-Specific Impact Analysis

Network Activity and Adoption

While RLUSD serves as the visible settlement currency, every transaction on XRPL inherently requires XRP. As the ledger's native asset, XRP underpins all value transfers across the network, with every operation that modifies the ledger state consuming XRP as a transaction fee to prevent spam and secure the network.

During Q3 2025, average daily XRPL transactions increased 8.9% from 1.6 million in Q2 to 1.8 million. Total network addresses grew 6.1% to reach 6.9 million. This growing activity suggests that RLUSD adoption, along with other use cases, is driving meaningful engagement with the XRP Ledger ecosystem.

Price Impact and Market Position

XRP currently trades around $2.08-$2.11 as of December 10, 2025, with a market capitalization near $127 billion. The token has demonstrated resilience despite broader market volatility, maintaining support above the $2.00 level.

However, analysts note that XRP must be distinguished between its roles. While institutions are adopting RLUSD for settlement, XRP primarily serves as a fee asset and bridge currency rather than the primary settlement token in these partnerships. First Ledger, a leading XRPL decentralized exchange, argues that all entities using RLUSD inherently interact with XRP through network fees, though the economic impact differs from using XRP as a primary settlement asset.

Partnership Opportunities

The Mastercard-Gemini-WebBank collaboration demonstrates XRP Ledger's viability for traditional financial institution partnerships. Brad Garlinghouse, Ripple's CEO, emphasized this convergence: "With Gemini, we're making everyday spending a chance to earn and connect with both XRP and RLUSD. It's a step toward giving people a faster way to move money, and making crypto simple and approachable for everyone."

Ripple has also secured regulatory approvals in international markets, with RLUSD receiving authorization for use in Abu Dhabi and other regulated financial settings. These developments position XRP infrastructure for broader institutional adoption across global markets.

Legal and Regulatory Considerations

Following Ripple's settlement with the SEC that concluded in 2025, the company has accelerated its institutional partnerships. The resolution removed significant regulatory uncertainty that had constrained XRP's growth for years.

In November 2025, the SEC approved the first spot XRP exchange-traded funds, opening new investment channels for institutional and retail investors who prefer regulated products. ETF inflows have already approached $1 billion, demonstrating strong institutional interest.

Market Implications and Future Outlook

The integration of RLUSD on major platforms like Gemini represents a significant validation of Ripple's multi-pronged strategy. By combining a native ledger token (XRP) with a USD-pegged stablecoin (RLUSD) deployed across multiple blockchains, Ripple addresses different market segments while building network effects.

Subject to regulatory approvals, initial integrations within existing Mastercard and WebBank settlement processes are expected within the coming months. If successful, this could establish a template for other card programs and financial institutions to adopt stablecoin-based settlement.

The partnership also positions RLUSD to compete with established stablecoins like USDT and USDC, particularly in institutional and cross-border payment corridors where Ripple has already demonstrated expertise. Recent data shows that stablecoins processed over $45 trillion in transaction volume in the past 12 months, exceeding individual volumes processed by Visa and Mastercard.

Key Takeaways

Gemini's support for RLUSD on the XRP Ledger marks a crucial development in the convergence of traditional finance and blockchain technology. The integration demonstrates:

• Institutional Validation: Major financial institutions are actively testing regulated stablecoins on public blockchains for real-world settlement
• Technical Viability: XRPL's speed and cost advantages make it competitive with traditional payment rails
• Strategic Positioning: Ripple's multi-chain approach for RLUSD, combined with XRP's native role on XRPL, creates complementary use cases
• Regulatory Progress: Clear compliance frameworks and banking partnerships are enabling mainstream adoption
• Market Momentum: RLUSD's 1,278% growth and $1.3 billion market cap demonstrate rapid acceptance

For XRP holders and the broader Ripple ecosystem, these developments suggest increasing utility for XRPL infrastructure, though the direct impact on XRP's price depends on how network activity translates into token demand. Investors should monitor ETF flows, partnership announcements, and on-chain metrics as indicators of sustained growth.

DISCLAIMER: This newsletter is for informational purposes only and does not constitute investment advice, advertising, or a recommendation to buy, sell, or hold any securities. This content is not sponsored by or affiliated with any of the mentioned entities. Investments in cryptocurrencies or other financial assets carry significant risks, including the potential for total loss, extreme volatility, and regulatory uncertainty. Past performance is not indicative of future results. Always consult a qualified financial professional and conduct thorough research before making any investment decisions.

Sources

1. Gemini Official Blog - XRP Credit Card Announcement
2. FinTech Magazine - Ripple Mastercard Partnership
3. CryptoPlatan - RLUSD Market Cap Analysis
4. Bitcoin Ethereum News - RLUSD Settlement Pilot
5. CCN Education - XRPL Technical Analysis
6. Cryptonomist - XRP Adoption Analysis
7. Coin Edition - RLUSD Growth Metrics
8. CoinGecko - RLUSD Market Data
9. 99Bitcoins - XRP Price Analysis
10. Should You Buy XRP While It's Under $3? Here's What Smart Investors Should Know.
11. Coin Central - RLUSD Partnership Impact