Ripple Stablecoin RLUSD Now Gets Expanded Support From Chainlink

Ripple has partnered with Chainlink to enhance Ripple stablecoin RLUSD, integrating Chainlink’s Price Feeds to provide live and accurate price data on the Ethereum blockchain.

Key Takeaways: – Ripple Partners with Chainlink: Ripple integrates Chainlink’s Price Feeds into its RLUSD stablecoin. – Ripple stablecoin RLUSD received NYDFS approval in December and is available on both XRP Ledger and Ethereum.

The integration ensures that Ripple stablecoin RLUSD remains a reliable asset for decentralized finance (DeFi) applications, including trading, lending, and other financial transactions.

Launched in April, Ripple stablecoin RLUSD is a stablecoin pegged 1:1 to the US dollar and backed by assets such as US government bonds. Ripple’s stablecoin received approval from the New York State Department of Financial Services (NYDFS) in early December and was officially listed for trading on December 17.

Available on both the XRP Ledger and Ethereum, RLUSD is designed to seamlessly integrate with smart contracts, making it highly adaptable for various DeFi protocols.

To ensure RLUSD’s stable value, accurate pricing is crucial, especially for DeFi applications that rely on precise and real-time data. Chainlink’s decentralized oracle network provides a secure, tamper-proof solution for this, offering continuous access to market data for smart contracts. With over $18 trillion in transaction value supported by Chainlink, this partnership promises to reduce the risks of data manipulation and enhance the reliability of DeFi ecosystems.

The integration of Chainlink Price Feeds into Ripple stablecoin RLUSD strengthens the stablecoin’s role in cross-border payments, trading, and loans.

Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor.