Ripple Adopts Chainlink Standard for RLUSD Pricing Data on Ethereum

Hello everyone! Exciting news in the world of cryptocurrency—Ripple has partnered with Chainlink to bring verifiable pricing data to its USD-denominated stablecoin, RLUSD, on the Ethereum blockchain.

RLUSD is all about stability, trust, utility, and regulatory compliance, making it a great option for enterprise use. By integrating Chainlink Price Feeds on the Ethereum mainnet, developers can now incorporate RLUSD into various DeFi applications like trading and lending platforms, enhancing its usability and adoption in decentralized finance.

Stablecoins like RLUSD offer faster, cost-efficient cross-border and local transactions. Ripple’s RLUSD, available on both the XRP Ledger and Ethereum blockchain, is perfect for smart contract-based applications. But to really take off in DeFi, reliable pricing data is key for managing risk and supporting different financial use cases.

Chainlink’s decentralized oracle network provides high-quality offchain data for RLUSD, setting up the infrastructure for secure and scalable DeFi applications. Chainlink’s Price Feeds aggregate market data from multiple sources, ensuring accurate volume-weighted average prices that are resistant to manipulation.

Ripple chose Chainlink for its top-notch features, including data quality from premium sources, secure nodes operated by independent entities, decentralization to avoid single points of failure, and transparency tools for verifying data integrity.

Officials from Chainlink Labs and Ripple are excited about this partnership. They see it as a step towards expanding RLUSD adoption and emphasizing the importance of reliable onchain data for stablecoins and tokenized assets in DeFi markets. By using Chainlink’s trusted data feeds, Ripple aims to strengthen RLUSD’s utility for both institutional and decentralized applications.

Exciting times ahead for RLUSD and DeFi with this new integration!