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Ripple adopts Chainlink standard to enhance RLUSD integration in DeFi
In a significant move, Ripple has announced its partnership with Chainlink, adopting their Price Feeds to boost the on-chain functionality of Ripple USD (RLUSD), the company’s USD-pegged stablecoin. The integration aims to fuel decentralized finance (DeFi) adoption by offering verifiable pricing data on the Ethereum blockchain.
Launched in December 2024 on both the XRP ledger and Ethereum, RLUSD has now been enhanced with Chainlink’s infrastructure. This development comes as a major breakthrough for DeFi applications, enabling secure, reliable, and transparent data aggregation to support trade, lending, and other decentralized finance services.
The partnership highlights Ripple’s commitment to providing high-quality data to facilitate trustless and censorship-resistant transactions in the growing DeFi ecosystem. RLUSD, designed to maintain a 1:1 peg with the US dollar, will now leverage Chainlink’s robust infrastructure to drive mainstream adoption within these platforms.
Chainlink’s decentralized Oracle networks, powered by trusted blockchain teams and traditional enterprises, ensure minimal downtime risks and manipulation. This approach maintains high availability even in periods of network congestion.
RLUSD’s new integration enables secure pricing data on the Ethereum blockchain, further strengthening its potential as a trustworthy DeFi asset. This collaboration aligns with Ripple’s broader vision to drive stablecoin-based financial transactions and expand RLUSD’s reach within decentralized markets.
In a statement, Jack McDonald, Senior Vice President of Stablecoin at Ripple, emphasized the significance of secure and transparent pricing data for enhancing market stability. He stated that the partnership will unlock the potential of stablecoins in DeFi applications, solidifying RLUSD as a leading choice for cross-border payments, lending, and trading.
RLUSD, launched with the aim to provide a stabilized, cost-effective medium for transactions, now offers enhanced on-chain functionality through this collaboration. The integration is expected to facilitate seamless interaction with various smart contract applications within the DeFi ecosystem, driving widespread adoption of stablecoins in these markets.
The addition of Chainlink’s Price Feeds will undoubtedly solidify Ripple’s position in the rapidly expanding DeFi market.
Source: cryptonewsland.com
