In what is an important development for the cryptocurrency sector, both Ripple and Chainlink have partnered in an effort to further Ripple USD (RLUSD) stablecoin access and utility across decentralized finance (DeFi). Indeed, Ripple announced the move in a press release that highlights its benefits to the recently launched stablecoin.
RLUSD was first launched in December of last year, months after the project was announced. Its arrival brought with it increased expectations for the stablecoin market, with the network behind XRP expected to boost competition. That will only continue with the integration of the Chainlink Standard.
JUST IN: Ripple partners with Chainlink $LINK to enhance the utility of $RLUSD across the on-chain economy.
— Watcher.Guru (@WatcherGuru) January 7, 2025
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Ripple Adopts Chainlink Standard as RLUSD Is Set to Get a DeFi Boost
2025 was always poised to be a year to remember for Ripple. Indeed, the company had struggled with regulatory battles that became years-long court conflicts in the United States. Yet, with a new regime on the horizon, things are already looking up.
Now, the optimism has only gotten more prevalent. Indeed, Ripple has announced a new partnership with Chainlink to boost its RLUSD stablecoin’s utility and access in DeFi. Specifically, the token will be integrated into Chainlink’s price feed to offer secure transactions in real-time on both the Ethereum and XRP ledgers.
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“As RLUSD scales across DeFi ecosystems, reliable and transparent pricing is essential to maintaining stability and building trust,” SVP at Ripple Jack McDonald said. “By leveraging the Chainlink standard, we bring trusted data on-chain,” he added. “Further strengthening RLUSD’s utility across both institutional and decentralized applications.”
The move was made to continue “accelerating the adoption” of the recently launched stablecoin, Chainlink’s chief business officer, Johann Eid, said. Moreover, they noted that “having access to critical on-chain data will accelerate the process.”