Ripple has announced plans to deepen its RLUSD stablecoin integration with decentralized finance applications using Chainlink's technology.
RLUSD on Ethereum Network
The RLUSD stablecoin is now live on the Ethereum network, allowing developers to incorporate it into various DeFi protocols for activities such as trading and lending. Following its introduction last month, RLUSD is available on both Ethereum and XRP Ledger networks, reaching a notable market capitalization of $72 million, according to CoinGecko.
Ripple's Adopted Standards
Ripple's decision to adopt Chainlink standards aims to bolster RLUSD's penetration in the DeFi sector while enhancing its viability for secure and economical cross-border transactions. DeFi applications require reliable pricing information to navigate the risks associated with stablecoin utilization.
Potential of Chainlink Collaboration
This collaboration holds the potential for RLUSD to gain significant traction in the DeFi sphere, ensuring a seamless connection with Chainlink’s advanced pricing data solutions, maximizing its operational efficiency and market reach.
The integration of RLUSD into DeFi via Chainlink strengthens Ripple's position in decentralized finance, ensuring the stablecoin's reliable functionality.
