Ripple has announced its adoption of the Chainlink standard to bring secure and reliable pricing data for its Ripple USD (RLUSD) stablecoin onchain. The move aims to boost RLUSD’s utility and adoption across decentralized finance (DeFi) ecosystems and institutional applications.
RLUSD, issued on the XRP Ledger (XRPL) and Ethereum blockchains, is a USD-denominated stablecoin designed to maintain a 1:1 peg to the US dollar. With Chainlink Price Feeds now live on the Ethereum mainnet, developers can integrate RLUSD into DeFi platforms for trading, lending, and other financial services.
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Chainlink Price Feeds Ensure Reliable Data for RLUSD
Adopting Chainlink’s decentralized Oracle network equips RLUSD with high-quality pricing data. Price Feeds in Chainlink collect data from multiple premium sources and are protected against fake data injection. Autonomous Sybil-proof nodes protect these feeds: these feeds also possess a sound reputation system, which is helpful for users and developers alike.
Chainlink has become a massive platform with its infrastructure that has processed over $18 trillion in transactional value and works with some of the world’s most prominent financial institutions. Integrating Ripple with Chainlink means that RLUSD now has a single, decentralized source for accurate price feed data – a basic need for the general DeFi market.
According to Jack McDonald, SVP of Stablecoin at Ripple, the price of RLUSD must be clear to customers. He stated that reliable data enhances the stablecoin’s stability and trust, making it a valuable asset for decentralized and institutional use cases.
Stablecoins Drive Efficiency in Global Finance
Stablecoins like RLUSD hold the potential to transform financial systems by enabling low-cost, instant settlement for local and international transactions. So, one of the goals of the partnership of Ripple with Chainlink is to increase the popularity of RLUSD and its integration into the multi-chain ecosystem.
Since its launch in December, RLUSD has recorded 33,953 transactions on the XRP Ledger and 1,690 on Ethereum, as reported by CryptoQuant. This growing activity reflects increasing investor interest in the stablecoin.
Source: CryptoQuant
Conclusion
Ripple’s adoption of Chainlink’s decentralized oracle technology significantly advances RLUSD’s utility in the DeFi space. By leveraging reliable and secure onchain pricing data, Ripple is poised to strengthen RLUSD’s position as a trusted stablecoin in institutional and decentralized markets.
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