Ripple joins forces with Chainlink to incorporate Real-Life USD (RLUSD) into Decentralized Finance (DeFi)

Ripple joins forces with Chainlink to incorporate Real-Life USD (RLUSD) into Decentralized Finance (DeFi)

The partnership between Ripple and Chainlink has significantly advanced the integration and adoption of the RLUSD stablecoin in the Decentralized Finance (DeFi) sector. This collaboration provides secure, high-quality, verifiable pricing data on-chain, addressing a critical hurdle for stablecoins in DeFi: the need for dependable off-chain data.

Chainlink's price feeds, now live on the Ethereum mainnet, offer a reliable and battle-tested source of RLUSD pricing data. This is essential for DeFi applications like trading and lending to manage risk effectively and integrate RLUSD seamlessly.

Ripple's adoption of Chainlink's standard enhances RLUSD's utility across the on-chain economy. By making its price data accessible and verifiable through Chainlink's infrastructure, RLUSD gains a competitive edge in DeFi. Developers can build diverse applications leveraging RLUSD with confidence in its price accuracy.

RLUSD is available on both the XRP Ledger and Ethereum blockchain, natively supporting composability with smart contracts essential for DeFi. While most RLUSD supply currently resides on Ethereum, Ripple's recent introduction of EVM-compatible smart contract functionality to XRPL and cross-chain bridges augments RLUSD's reach and positions it for wider adoption across interoperable DeFi ecosystems.

According to the company CEO, RLUSD is expected to become the "gold standard" for the corporate sector. As of now, RLUSD ranks 724th on CoinGecko, with a market capitalization of approximately $72.2 million.

The RLUSD stablecoin, launched in December, is being used to fuel DeFi adoption with real-time, secure pricing data. It is suitable for payments, RWA, and DeFi, and can be used in DeFi apps for use cases such as trading and lending.

[1] Ripple Press Release, [Date] [2] Ripple Blog Post, [Date]

1. The integration of Chainlink's price feeds on the Ethereum mainnet, which offer reliable and dependable RLUSD pricing data, is crucial for expanding Ethereum's DeFi applications like trading and lending, as it enables effective risk management and seamless integration of RLUSD.
2. As RLUSD's utility increases through Ripple's adoption of Chainlink's standard and the availability of its price data on both the XRP Ledger and Ethereum blockchain, this stablecoin, anticipated by its CEO to be the "gold standard" for the corporate sector, is poised to compete aggressively in DeFi finance, leveraging technology for diverse applications.

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