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BlackRock And Mastercard Turn To XRP Ledger In DeFi Power Play
TL;DR
BlackRock and Mastercard have partnered with Gemini and Ripple to test a regulated stablecoin for card payments on the XRP Ledger. This initiative highlights a significant shift by traditional financial institutions towards utilizing blockchain technology.
Key points
- BlackRock and Mastercard partnered with Ripple and Gemini
- Tests conducted using RLUSD stablecoin on XRP Ledger
- Focus on improving payment transparency and speed
- XRP Ledger supports cross-border transactions
- Partnership reflects traditional finance's shift to blockchain
Mentioned in this story
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A partnership between BlackRock, Mastercard, Gemini, and Ripple recently completed tests using a regulated stablecoin to settle card payments on the XRP Ledger. This move shows how traditional financial giants are shifting from watching blockchain technology to actually putting it to work.
The trial focused on RLUSD, a stablecoin designed to help banks process payments with more transparency and speed than current systems allow.
Major Institutions Explore Blockchain Infrastructure
Ripple executive Odelia Torteman shared details about these developments during a recent industry forum in London. While many people view XRP as a token for trading, firms like BlackRock and Franklin Templeton are looking at the underlying ledger as a tool for institutional finance.
The network was built to handle cross-border transactions and move multiple types of assets at once. It includes a built-in decentralized exchange and an automated market maker. These features allow large companies to trade and move value without being fully reliant on traditional middlemen.
Last September, Franklin Templeton joined forces with Ripple and DBS Bank to introduce new ways to lend and trade. They used money market funds that were turned into digital tokens to increase liquidity.
By combining these tokens with regulated stablecoins, the firms aim to make capital move more efficiently while staying within legal rules. This approach helps build trust for large investors who are often wary of the volatile nature of the broader crypto market.
BlackRock And Ripple Link Investment Funds
Reports indicate that the reach of this technology is expanding into the world of Treasury products. Ripple worked with to create a system where investors in BlackRock’s BUIDL fund can turn their holdings into .
Q&A
What is the purpose of the RLUSD stablecoin in the BlackRock and Mastercard partnership?
The RLUSD stablecoin is designed to help banks process payments with greater transparency and speed.
How does the XRP Ledger facilitate institutional finance for companies like BlackRock?
The XRP Ledger supports cross-border transactions and includes features like a decentralized exchange and automated market maker, enabling large companies to trade without relying on traditional intermediaries.
What recent developments were shared by Ripple executive Odelia Torteman?
Odelia Torteman discussed the partnership and the testing of the stablecoin during an industry forum in London, emphasizing the growing interest in blockchain technology among major financial institutions.
