Mastercard Joins Forces with Ripple as XRP ETF Pricing Changes Take Effect

Ripple's XRP network has welcomed Mastercard as a sponsor of its upcoming hackathon, scheduled for October 24-25. The event is a precursor to the Ripple Swell conference and will bring together industry leaders like Mastercard to showcase the capabilities of the XRP network in payment use cases.

This is not the first time Mastercard has collaborated with Ripple. In March, it expanded its relationship with the broader Ripple ecosystem by partnering with several industry companies, including Binance, Gemini, PayPal, Paxos, Circle, and Ripple itself. The partnership aimed to connect blockchain with Mastercard's global payments infrastructure.

Additionally, 21Shares' XRP ETF (TOXR) has made some changes to its pricing mechanism. It will now use the FTSE XRP Index instead of the CME Group, effective August 27. The sponsor will also be paid in XRP once every three months instead of weekly.

The spot XRP ETFs have seen significant net inflows, with TOXR being the only one in the red, having cumulatively lost $20.06 million. In contrast, Bitwise's XRP ETF has attracted over $575 million in cumulative net inflows.