Ripple Launches Chainlink-Enabled RLUSD for the DeFi Ecosystem
Date: 2025-01-08 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
The initiative aims to improve the availability and reliability of RLUSD data for DeFi applications such as trading and lending.
RLUSD, a new stablecoin built on the XRP Ledger (XRPL) and Ethereum blockchains, is natively compatible with various applications and smart contracts. The partnership with Chainlink now provides accurate and secure price data that is essential for integrating RLUSD into decentralized platforms.
As a leading oracle, Chainlink provides access to data that is critical to maintaining accurate pricing and financial transactions in DeFi applications. This data helps DeFi platforms ensure stability and transparency when using RLUSD.
Ripple began experimenting with RLUSD back in April, with CEO Brad Garlinghouse stating that the new stablecoin would become an important payment tool and would be able to support not only traditional financial transactions, but also become the “gold standard” in the corporate sector. In December 2024, RLUSD was released and became available to users on the markets, and its market cap currently stands at $72.2 million.
It is important to note that high-quality price data sources are required for RLUSD to work fully in the DeFi ecosystem. Using Chainlink in this context provides developers with the necessary infrastructure for stable and secure operation of the stablecoin in various applications.
To date, RLUSD continues to develop and attract the attention of users and developers, and the partnership with Chainlink accelerates its adoption in the field of decentralized finance.
