Ripple Integrates Chainlink to Boost RLUSD Utility in DeFi

by A1

20 hours ago

Ripple has announced the integration of Chainlink Price Feeds to provide verifiable pricing data for its RLUSD stablecoin, aiming to enhance RLUSD's role within decentralized finance (DeFi) ecosystems.

Integration of Chainlink and Ripple

The Chainlink Price Feeds are now live on the Ethereum mainnet, allowing developers to integrate RLUSD into applications for various purposes, including trading and lending. This development is crucial for promoting stablecoin adoption within the on-chain economy.

Reliable and transparent pricing is essential for RLUSD to scale across DeFi ecosystems.Jack McDonald, Senior Vice President of Stablecoin at Ripple

Benefits for Decentralized Applications

Launched in December 2024 on the XRP Ledger and Ethereum, RLUSD opens new possibilities for DeFi. One major challenge remains securing reliable on-chain price data. Chainlink Price Feeds address this issue by sourcing information from top aggregators and exchanges, applying volume weighting and filtering outliers.

The adoption of tokenized assets like stablecoins will accelerate in the coming years, and having access to critical on-chain data is key to driving this growth.Johann Eid, Chief Business Officer at Chainlink Labs

Future Cooperation and Development

The collaboration between Ripple and Chainlink is aimed at improving the reliability and security of RLUSD using a reputation framework and on-chain monitoring for performance verification. In the future, Chainlink has launched two key features to enhance blockchain adoption in finance: Blockchain Privacy Manager and CCIP Private Transactions, ensuring data privacy during cross-chain transactions.

The integration of Chainlink into Ripple's ecosystem opens new horizons for the use of RLUSD in decentralized applications. This collaboration marks a significant step towards improving the reliability and utility of data in the DeFi sphere.

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