Ripple and Chainlink partner to strengthen RLUSD adoption. RLUSD leverages Chainlink standards to enhance the utility and accessibility of stablecoins across DeFi.
Ripple is partnering with Chainlink to bring its recently announced stablecoin RLUSD to more users across the decentralized finance ecosystem.
The RLUSD issuer, which is also behind the XRP cryptocurrency, announced this partnership with Chainlink on January 7th.
Ripple and Chainlink partners
Ripple leverages Chainlink's price feed to enable high-quality price data for RLUSD, and said the standard provides verifiable data on Ethereum. This strengthens the utility and accessibility of RLUSD across DeFi and means support for expanding adoption of the stablecoin across an ecosystem that is expected to grow rapidly.
The adoption of stablecoins, which are currently dominated by Tether's USDT and Circle's USDC as the top two USD-pegged tokens, is also expected to be a major traction.
“The adoption of tokenized assets such as stablecoins will continue to accelerate in the coming years, and having access to critical on-chain data will accelerate that process,” said Chief Business Officer, Chainlink Labs. says Johann Eid.
With this integration, RLUSD will be used to power DeFi applications across trading, lending, and other key market segments. DeFi developers can easily integrate stablecoins into their applications as the Chainlink standard provides an integration solution.
“As RLUSD expands across the DeFi ecosystem, reliable and transparent pricing is essential to maintain stability and build trust in its utility within the decentralized market. Powered by Chainlink standards This brings trusted data on-chain and further strengthens the utility of RLUSD across both institutional and decentralized applications,” said Jack McDonald, Ripple SVP, Stablecoins.
Ripple launched a stablecoin pegged 1:1 to the US dollar in December 2024.
The initial issuance will take place on the XRP Ledger and Ethereum blockchain, with a current market cap of $53.09 million and a daily volume of approximately $21.8 million over the past 24 hours.
