Ripple Partners With Mastercard to Launch Blockchain-Based Remittance Network in Asia
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Ripple has announced a landmark partnership with Mastercard to build a blockchain-powered remittance network across key Asian markets, aiming to simplify and accelerate cross-border money transfers. The collaboration, revealed on September 19, 2025, will use Ripple’s enterprise blockchain technology and Mastercard’s global payments infrastructure to improve efficiency, transparency, and cost-effectiveness in regional remittances.
The network will initially cover the Philippines, Vietnam, Indonesia, and Malaysia—countries with high volumes of remittance inflows driven by overseas workers. According to Ripple, the goal is to reduce transaction times from days to seconds while significantly cutting transfer fees.
“Mastercard has built one of the most trusted and secure payment networks in the world,” said Monica Long, President of Ripple. “By combining that with Ripple’s blockchain technology and real-time settlement capabilities, we’re transforming how money moves across borders in one of the fastest-growing remittance corridors globally.”
The partnership will leverage Ripple Payments (formerly RippleNet) for settlement and liquidity, with Mastercard providing integration through its Cross-Border Services platform. The system will use XRP as a bridge currency in select corridors to provide liquidity and ensure faster conversions between fiat currencies, though both firms emphasized that the use of XRP will be optional depending on local regulations.
For Mastercard, the move is part of its continued expansion into blockchain-based financial services. “Our collaboration with Ripple reflects Mastercard’s vision to modernize global money movement,” said Raj Dhamodharan, Executive Vice President of Blockchain and Digital Assets at Mastercard. “Together, we’re ensuring remittances are not only faster but also more transparent and accessible to millions of users who rely on them daily.”
Industry analysts view this partnership as a potential game-changer for remittance-heavy regions. Current systems, often dependent on intermediaries, can take days and incur fees as high as 7% per transaction. With Ripple’s blockchain and Mastercard’s established network, transfer costs could drop below 1%, while settlement times shrink to under 10 seconds.
Local banks and fintechs will be invited to join the network, integrating Ripple’s blockchain rails into Mastercard’s API framework. Early partners reportedly include UnionBank of the Philippines and CIMB Bank Malaysia.
The collaboration also aligns with regional central banks’ growing interest in digital assets and stablecoins. Both companies hinted that the new system could later support central bank digital currencies (CBDCs), offering interoperability between traditional finance and emerging digital ecosystems.
The announcement had an immediate market impact. XRP’s price jumped nearly 6% to $0.68 following the news, while Mastercard’s stock gained modestly in after-hours trading.
As regulatory clarity around blockchain payments continues to evolve across Asia, the Ripple-Mastercard partnership may set a new benchmark for cross-border financial innovation—bringing faster, cheaper, and more reliable remittance options to millions across the continent.
