Ripple partners with Chainlink to provide robust price data for its RLUSD stablecoin, according to a January 7 report statement.
The integration introduces Chainlink’s blockchain technology into Ripple’s ecosystem and delivers secure and verifiable price feeds directly to Ethereum’s network.
RLUSD, a stablecoin pegged to the US dollar, was launched in December following approval from the New York Department of Financial Services (NYDFS).
According to CryptoQuant data, it operates on both the XRP Ledger and Ethereum and has a current market cap of $77 million.
Improving RLUSD for DeFi
DeFi applications require access to real-time, tamper-proof prices to support stablecoin-based activities such as trading and lending.
Through Chainlink Price Feeds, Ripple ensures that RLUSD benefits from accurate, volume-weighted price data collected from various on-chain and off-chain markets.
The integration strengthens RLUSD’s functionality on the DeFi platforms by making trusted data accessible to developers.
This collaboration positions RLUSD for widespread adoption by providing a solid foundation for its use in financial applications. Johann Eid, Chief Business Officer at Chainlink Labs, commented:
“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 Zach Rynes, major DeFi protocols like Aave have already started incorporating RLUSD into their ecosystems using Chainlink-powered data feeds.
Ripple said it selected Chainlink because of its proven ability to deliver secure, high-quality data over a decentralized infrastructure.
Jack McDonald, SVP of Stablecoin at Ripple, added:
“By leveraging the Chainlink standard, we bring trusted data into the chain, further strengthening RLUSD’s utility for both institutional and decentralized applications.”
Chainlink’s technology powers trillions of dollars in transaction value worldwide. In particular sAll crypto projects, including the Coinbase-backed Base Network and traditional financial institutions such as ANZ, are working with the network to improve operations.
