According to a statement released on Jan. 7, Ripple and Chainlink have partnered to offer robust pricing information for the RLUSD stablecoin.
The integration introduces Chainlink’s blockchain technology to Ripple’s ecosystem, delivering secure and verifiable price feeds directly on Ethereum’s network.
RLUSD was approved by the New York Department of Financial Services in December.
According to CryptoQuant’s data, it operates on both the XRP Ledger and Ethereum and has a current market capitalization of $77 million.
DeFi – Enhancing RLUSD
To support operations such as trading and lending, DeFi applications need access to real time, tamperproof pricing.
Ripple provides RLUSD with accurate volume-weighted prices collected on and off chain from a wide range of markets.
The integration strengthens RLUSD’s functionality across DeFi platforms by making reliable data accessible to developers.
This partnership positions RLUSD to be widely adopted by providing a foundation that is suitable for use in financial apps. Johann Eid, Chief Business Officer at Chainlink Labs, remarked:
“The adoption of tokenized assets such as stablecoins will continue to accelerate in the coming years and having access to critical onchain data will accelerate the process.”
Zach Rynes of Chainlink, community liaison officer, said that major DeFi protocol Aave has already started integrating RLUSD in their ecosystems utilizing Chainlink powered data feeds.
Ripple chose Chainlink because of its ability to provide secure and high-quality data via decentralized infrastructure.
Jack McDonald, SVP Stablecoins at Ripple added:
“By leveraging the Chainlink standard, we bring trusted data onchain, further strengthening RLUSD’s utility across both institutional and decentralized applications.”
Chainlink’s technology supports trillions of dollars in transaction value globally. Notably, the technology supports trillions of dollars in transaction value globally.everal crypto projects, including the Coinbase-backed Base network and traditional financial institutions like ANZ, have partnered with the network to enhance operations.
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