Ripple partners with Chainlink to enhance RLUSD stablecoin with secure data feeds
Ripple has partnered with Chainlink to enhance its RLUSD stablecoin by integrating Chainlink’s blockchain technology for secure pricing data. RLUSD, launched in December and pegged to the US dollar, operates on both the XRP Ledger and Ethereum, with a market capitalization of $77 million. The integration provides real-time, tamper-proof pricing necessary for decentralized finance (DeFi) applications, improving trading and lending operations. Chainlink Price Feeds will deliver accurate, volume-weighted price data from various markets, facilitating RLUSD's functionality across DeFi platforms. Major DeFi protocols like Aave are already incorporating RLUSD using Chainlink data feeds. This collaboration aims to accelerate the adoption of tokenized assets and strengthen RLUSD’s utility in financial applications. Chainlink supports significant transaction value globally and has partnered with various crypto projects and traditional financial institutions to enhance operations.
