Ripple has partnered with Chainlink to enhance the adoption of its RLUSD stablecoin in decentralized finance (DeFi) applications. The collaboration, announced on January 7, focuses on providing price feeds for RLUSD on both Ethereum and the XRP Ledger, enabling secure and cost-effective transactions. RLUSD is backed 1:1 by the US dollar and aims to facilitate efficient transactions across payments, trading, and lending in DeFi. With Chainlink's decentralized nodes delivering accurate data, the integration reduces risks of price manipulation and ensures continuous availability of market data for smart contracts. Colin Cunningham from Chainlink highlighted the integration as a significant progression for the market, expressing excitement for supporting RLUSD’s launch. The partnership underlines Ripple's strategy to expand its presence in DeFi, positioning RLUSD as a valuable bridge between traditional finance and blockchain technology, promoting fast and low-cost transactions.

Source 🔗