Ripple Collaborates with Chainlink for Integration of Real-Life USD in Decentralized Finance (DeFi)
In a significant move for the DeFi sector, Ripple and Chainlink have partnered to accelerate the adoption of RLUSD, Ripple's stablecoin. This partnership, announced on January 7, 2025, marks a significant step towards integrating RLUSD into the DeFi ecosystem.
RLUSD, currently with a market capitalization of approximately $72.2 million, is now available on both the XRP Ledger (XRPL) and Ethereum. This dual-chain launch allows for efficient payments on XRPL and DeFi composability on Ethereum.
The partnership has provided RLUSD with a secure, reliable, and verifiable source of price data on the Ethereum blockchain through Chainlink's standard. This access to high-quality off-chain pricing data enables DeFi developers to confidently integrate RLUSD into their applications for trading, lending, and other financial services, thereby expanding RLUSD’s utility and adoption within the DeFi ecosystem.
Chainlink's Price Feeds deliver accurate and tamper-resistant RLUSD price information on-chain. Chainlink's infrastructure, trusted by major financial institutions and battle-tested with over $18 trillion in transaction value, ensures that DeFi applications relying on RLUSD can effectively manage risks associated with price volatility or erroneous data inputs. Moreover, Chainlink’s Proof of Reserve technology can bring transparency to the stablecoin’s backing assets, further increasing trust and regulatory compliance, which are critical for enterprise-grade stablecoins like RLUSD.
The partnership addresses key DeFi requirements such as price accuracy, data reliability, and market confidence, thus accelerating RLUSD’s growth and adoption. To support RLUSD as an asset, many DeFi platforms require a high-quality, reliable source of pricing data. With Chainlink's Price Feeds now live on the Ethereum mainnet, RLUSD can be integrated natively with applications and smart contracts.
As of now, RLUSD stablecoin has adopted Chainlink standard for verifiable data and ranks 724th on CoinGecko. This partnership aims to further integrate RLUSD stablecoin into the DeFi sector, opening up new opportunities for its use in trading, lending, and other DeFi applications.
[1] Ripple Press Release: [Link to the press release] [2] Chainlink Blog Post: [Link to the blog post] [3] CoinGecko Rankings: [Link to the CoinGecko rankings] [4] Chainlink Documentation: [Link to the Chainlink documentation] [5] Ripple Developer Portal: [Link to the Ripple Developer Portal]
With RLUSD now available on Ethereum, investing in DeFi finance through this stablecoin becomes more appealing. The partnership between Ripple and Chainlink has integrated Chainlink's technology into RLUSD, providing reliable and accurate price data for DeFi developers, facilitating seamless integration of RLUSD into the DeFi ecosystem for trading, lending, and other financial services.
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