First Ledger Says Mastercard and WebBank Will Use XRP

Leading XRPL decentralized exchange First Ledger has claimed that major financial institutions such as Mastercard and WebBank will use XRP.

First Ledger’s assertion comes weeks after Ripple announced its partnership with Mastercard, WebBank, and Gemini to pilot RLUSD stablecoin settlement on the XRP Ledger (XRPL). The initiative aims to test how regulated stablecoins like RLUSD can settle traditional card payments on XRPL.

How Mastercard, Gemini, Ripple, and WebBank Will Use XRP

While Ripple’s announcement focused on the use of RLUSD for settlement, First Ledger believes that all parties involved, including Ripple, Mastercard, Gemini, and WebBank, will use XRP.

This perspective stems from the fundamental design of the XRP Ledger. As the native asset, XRP underpins value movement across the network, with all transaction fees paid in the token.

Consequently, any activity on XRPL, including RLUSD settlements, requires XRP to cover network fees and maintain ledger operations. Thus, although the pilot highlights RLUSD as the settlement asset, Mastercard, Gemini, Ripple, and WebBank will inherently interact with, and effectively “use,” XRP simply by executing transactions on the blockchain.