Ripple is integrating the Chainlink Standard to help bring its new RLUSD stablecoin on-chain. This partnership comes with a few key features, most importantly integrating live price data into RLUSD’s blockchain.
Additionally, Chainlink will provide ongoing support and its decentralized network services. This news comes from an exclusive press release shared with BeInCrypto.
Ripple Partners with Chainlink
Ripple, one of the leading cryptoasset issuers, is collaborating with Chainlink to ensure extended utility for its new RLUSD stablecoin. The firm planned its launch for several months, attempting to break Tether and Circle’s duopoly on the stablecoin market. Now that RLUSD is live, this partnership will help with several key features.
“As RLUSD scales across DeFi ecosystems, reliable and transparent pricing is essential to maintaining stability and building trust. By leveraging the Chainlink standard, we bring trusted data onchain, further strengthening RLUSD’s utility across both institutional and decentralized applications,” said Jack McDonald, SVP of Stablecoin at Ripple.
Chainlink, a platform that pioneers interoperability protocols, is offering several key advantages to Ripple. Its standard will enable the stablecoin to gain high-quality price feed data, directly integrated on-chain, plus a decentralized network and dedicated security node operators.
Since New York regulators approved RLUSD in early December, Ripple has been moving fast. Before it even launched, it boosted the company’s other assets, including heightened exchange inflows. The new stablecoin is already showing great promise, and a Chainlink partnership will help Ripple realize it.
RLUSD also entered the Asian market recently by achieving a listing on Singapore’s Independent Reserves exchange.
Chainlink, for its part, has been integrating several high-profile companies onto its standard lately. The firm partnered with Coinbase in December and more recently added Shiba Inu.
Aave, too, surged after a governance proposal suggested integrating Chainlink. With these bona fides, Ripple is also joining the Chainlink partnership train.
RLUSD already has a strong potential to join Ripple’s premier asset offerings like XRP. The stablecoin has been live for less than a month, and Ripple is doing what it can to build public notoriety and good foundations for major usage.
Ideally, Chainlink’s standard will help spur its adoption and help guarantee lasting market relevance.
