With this collaboration, Ripple uses Chainlink to provide accurate and highly secure price feeds for its new RLUSD stablecoin for Ethereum. This comes after the organization began operating in December after receiving approval from the NYDFS.
DeFi Integration Benefits
The cooperation offer accurate and time-stamped immutable price feed that is crucial in DeFi app functioning. Using Chainlink’s data feeds, major platforms such as Aave are already using RLUSD as early adoption proof.
Technical Implementation
Chainlink Price Feeds provideed volume-weighted data from multiple markets and creates a solid ground for using RLUSD in finance. It now holds a $77 million market cap on XRP Ledger and Ethereum.
Industry Impact
This partnership is added to other major linkages such as Base network backed by Coinbase, and the ANZ, to show the burgeoning institutional interest in chain data solution.
Partnership Overview
This partnership is great progress for RLUSD as Ripple-Chainlink provides the necessary support for the further expansion of DeFi and institutions.
