Ripple continues its partnership with Chainlink to expand the usage of the RLUSD stablecoin within Ethereum’s DeFi ecosystem.
Role of Chainlink
Chainlink, the largest decentralized oracle network, boasts infrastructure with over $18 trillion in transaction volume. This highlights Chainlink’s ability to provide reliable and transparent data. Ripple aims to leverage these robust data sets to enhance RLUSD’s market presence.
Expansion of RLUSD
RLUSD solidifies its status as a cross-chain stablecoin by operating on both the XRP Ledger (XRPL) and Ethereum. Ripple seeks to support more blockchains to facilitate low-cost, instant settlements for local and international payments.
Developer Confidence
Integration with Chainlink allows developers to incorporate RLUSD with greater confidence. Reliable pricing data is utilized to improve lending and trading operations. By January 2025, RLUSD’s market value is expected to reach $72 million.
The partnership between Ripple and Chainlink strengthens RLUSD's market presence through transparent data and reliable pricing, contributing to its increased adoption in the DeFi ecosystem.
