Ripple to Boost RLUSD with Chainlink Partnership
On Tuesday, Ripple announced its partnership with Chainlink, a data provider for decentralized finance (DeFi) applications, to enhance the integration of its stablecoin, RLUSD, with the XRP Ledger.
This integration, which is now live on the Ethereum blockchain, allows developers to easily incorporate RLUSD into their DeFi protocols for trading, lending, and other activities.
Ripple released RLUSD to the public last month on Ethereum and the XRP Ledger, with a current market capitalization of $72 million according to CoinGecko data.
Through adopting the Chainlink standard, Ripple aims to accelerate the adoption of RLUSD in DeFi and increase its appeal for secure and cost-effective cross-border payments.
DeFi applications often require reliable pricing data to manage risks associated with stablecoins. With over $18 trillion in transaction value facilitated, Chainlink’s infrastructure bridges this gap.
