Ripple Forms Alliance With Chainlink To Boost RLUSD Adoption
Ripple partnered strategically with Chainlink to increase the adoption of its RLUSD stablecoin in decentralized finance.
Chainlink and the blockchain-based payment protocol Ripple have announced a strategic alliance to increase the use and acceptance of Ripple USD (RLUSD), the company’s enterprise-grade stablecoin.
The partnership announced on January 7, will present Chainlink’s decentralized RLUSD price feeds on the XRP Ledger and Ethereum. The integration will strengthen the stablecoin’s position in DeFi by offering real-time, tamper-proof market data, guaranteeing dependability, and reducing the risks of price manipulation and outages. RLUSD is pegged 1:1 to the US dollar to enable safe and economical transactions across payments, trading, lending, and other DeFi applications.
Chainlink and Ripple’s integration gives developers access to precise and consistent pricing information, enabling them to create more dependable and resilient decentralized applications (dApps) with the stablecoin.
Colin Cunningham, Chainlink Labs’ Head of Tokenization and Alliances, was upbeat about the partnership, saying the team is thrilled to support the RLUSD launch and that the integration “is a great signal for the market.”.
RLUSD connects conventional financial systems with decentralized technologies, embodying Ripple’s vision for blockchain-based finance. The stablecoin’s integration with Chainlink is anticipated to address common issues in DeFi, such as erratic market data by guaranteeing smooth data flow across its decentralized nodes.
The collaboration with Chainlink puts Ripple in a position to hasten the uptake of RLUSD by enabling developers to incorporate the stablecoin into a range of financial services. Cunningham asserts that Ripple’s role as a leader in the blockchain sector is demonstrated by its resilience in the face of market turbulence and regulatory obstacles.
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