Ripple Boosts RLUSD Stablecoin's DeFi Utility on Ethereum and XRP Ledger with Chainlink Partnership

Jan 7, 2025, 01:18 PM

Ripple has partnered with Chainlink to enhance the utility of its RLUSD stablecoin within decentralized finance (DeFi) markets. By adopting Chainlink's standard for verifiable data, Ripple aims to provide reliable on-chain pricing data for RLUSD, which is designed to maintain a 1:1 value with the U.S. dollar and currently has a $72 million market capitalization. This integration is expected to boost RLUSD's adoption across DeFi ecosystems, facilitating its use in trading, lending, and other financial services on both the Ethereum and XRP Ledger blockchains. Chainlink's infrastructure, which has facilitated over $18 trillion in transaction value, will supply RLUSD with high-quality, tamper-resistant price data, essential for managing risks in DeFi applications. 'As RLUSD scales across DeFi ecosystems, reliable and transparent pricing is essential to maintaining stability and building trust in its utility within decentralized markets,' said Jack McDonald, SVP of Stablecoin at Ripple. Johann Eid, Chief Business Officer at Chainlink Labs, added, 'The adoption of tokenized assets such as stablecoins will continue to accelerate in the coming years and having access to critical onchain data will accelerate the process.'