Ripple partners with Chainlink to enhance RLUSD stablecoin with secure data feeds
Ripple has partnered with Chainlink to provide robust pricing data for its RLUSD stablecoin, according to a Jan. 7 statement.
The integration introduces Chainlinks blockchain technology to Ripples ecosystem, delivering secure and verifiable price feeds directly on Ethereums network.
RLUSD, a stablecoin pegged to the US dollar, was launched in December after securing approval from the New York Department of Financial Services (NYDFS).
According to CryptoQuants data, it operates on both the XRP Ledger and Ethereum and has a current market capitalization of $77 million.
Enhancing RLUSD for DeFi
DeFi applications require access to real-time, tamper-proof pricing to support stablecoin-based operations like trading and lending.
Through Chainlink Price Feeds, Ripple ensures RLUSD benefits from accurate, volume-weighted price data collected from various on-chain and off-chain markets.
The integration strengthens RLUSDs functionality across DeFi platforms by making reliable data accessible to developers.
This collaboration positions RLUSD for broad adoption by providing a solid foundation for its use in financial applications. 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.
According to Chainlink community liaison officer Zach Rynes, major DeFi protocols like Aave have already begun incorporating RLUSD into their ecosystems using Chainlink-powered data feeds.
Ripple said it selected Chainlink for its proven ability to deliver secure, high-quality data through decentralized infrastructure.
Jack McDonald, SVP of Stablecoin at Ripple, added:
By leveraging the Chainlink standard, we bring trusted data onchain, further strengthening RLUSDs utility across both institutional and decentralized applications.
Chainlinks technology supports trillions of dollars in transaction value globally. Notably, several 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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Text source: CryptoSlate
