Ripple announced its intent to better integrate the RLUSD stablecoin with decentralized finance (DeFi) applications using Chainlink's services.
Transition to the Ethereum Network
This feature went live today on the Ethereum network, enabling developers to integrate RLUSD into DeFi protocols for trading, lending, and other financial activities. Last month, Ripple launched the RLUSD stablecoin for public use on both the Ethereum and XRP Ledger networks. According to CoinGecko data, the token currently boasts a market capitalization of $72 million.
Adoption of Chainlink Standards
By adopting Chainlink standards, Ripple aims to accelerate RLUSD’s acceptance in DeFi and enhance its appeal for secure, cost-effective cross-border payments. DeFi applications require reliable pricing data to manage risks associated with stablecoin use.
Quotes and Comments
Jack McDonald, Ripple’s senior vice president responsible for stablecoins, stated, “The integration of Chainlink Price Feeds provides the necessary infrastructure to deliver accurate, decentralized pricing data to DeFi applications. This ensures that protocols using RLUSD can operate reliably and transparently across a broad range of financial activities.”
This collaboration ensures RLUSD gains broader usage in the DeFi ecosystem and integrates with Chainlink's robust pricing data solutions.
