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Ripple: New developments for RLUSD stablecoin thanks to Chainlink
By Daniele Corno
Ripple's RLUSD stablecoin integrates Chainlink's standard thanks to a collaboration between the two: New step for a development in DeFi
Ripple integrates Chainlink for RLUSD development
Ripple has chosenChainlink Price Feeds to improve the security and reliability of data on RLUSD, its stablecoin pegged 1:1 to the U.S. dollar. Follow us on Telegram to stay up to date.
.@Ripple x @Chainlink: $RLUSD has adopted the Chainlink standard for verifiable data to fuel DeFi adoption with real-time, secure pricing data.
The future of stablecoins is here: https://t.co/mq3cThLGQJ pic.twitter.com/993Ac0o282
— Ripple (@Ripple) January 7, 2025
The partnership stems from Ripple ‘s need to obtain a reliable data source for its stablecoin, a key step in theintegration of RLUSD within the DeFi ecosystem. In fact, thanks to this integration, RLUSD Stablecoin will be able to find uses within DeFi in the future, becoming present within Dex, Lending protocols and other Dapps.
The success of RLUSD depends on market confidence, which is based on accurate and verifiable information. Indeed, with Chainlink, Ripple can provide protection against possible manipulation of data by verifying its reliability through Chainlink.
Since the launch also, RLUSD has a capitalization of just over $70 million, highlighting the difficulties encountered following the launch due to a lack of real collaborations and use-cases.
The benefits of Chainlink for RLUSD
Chainlink was chosen by Ripple for its ability to provide accurate and reliable data, critical to the success of RLUSD in DeFi.
In addition, Chainlink Price Feeds aggregate information from multiple sources, weighting it by volume and cleaning it of anomalies. In fact, this technology ensures that the data accurately reflect market conditions.
As Jack McDonald, SVP of Ripple stated : “Transparent and reliable pricing is essential to promoting the adoption of RLUSD.” “With these tools, RLUSD can be used with confidence in DeFi applications, enhancing their utility and strengthening their position in the market.”
