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KYRENIA, CYPRUS - NOVEMBER 8, 2018: Ripple ( XRP ) website on the smartphone display. Ripple is cryptocurrency and remittance network.
Ripple, a leading provider of enterprise blockchain solutions, has announced a strategic partnership with Chainlink Labs, a leader in providing real-time data to decentralized applications (dApps). The collaboration will see the integration of Ripple’s stablecoin, RLUSD, into the Chainlink standard, enabling its widespread adoption across DeFi ecosystems.
RLUSD is a US dollar-pegged stablecoin, designed to provide a reliable and trustworthy solution for institutional investors and other stakeholders in the financial market. By integrating with Chainlink, Ripple aims to accelerate the process of RLUSD’s widespread adoption and utilization within decentralized finance (DeFi) applications.
The partnership will allow DeFi developers to easily integrate RLUSD into their projects, leveraging the unified Chainlink standard. This integration is crucial for establishing trust and stability in the DeFi market, as reliable and transparent pricing data are essential for maintaining the integrity of such applications.
Johann Eid, Chief Business Officer at Chainlink Labs, emphasized the importance of this collaboration: “Our partnership with Ripple further accelerates the development of a more decentralized and resilient financial system. By providing real-time data on RLUSD’s price, we enable seamless interactions between different market segments.”
Ripple SVP, Stablecoin, Jack McDonald stressed the significance of this integration for the DeFi ecosystem: “As RLUSD scales across DeFi ecosystems, reliable and transparent pricing is essential to maintaining stability and building trust in its utility within decentralized markets. By leveraging the Chainlink standard, we bring trusted data onchain, further strengthening RLUSD’s utility across both institutional and decentralized applications.”
RLUSD was launched by Ripple in December 2024 and has already gained significant traction, with an initial market capitalization of $53.09 million and a daily trading volume of approximately $21.8 million over the past 24 hours.
This partnership is expected to have far-reaching implications for the DeFi ecosystem, enabling seamless interactions between different segments and fostering innovation in the space.
Source: coinjournal.net
