TL;DR
Ripple collaborates with Chainlink to integrate price feeds into its RLUSD stablecoin, improving its adoption in the DeFi market.
RLUSD operates on the XRP Ledger and Ethereum, maintaining a 1:1 parity with the dollar and complying with business regulatory standards.
Chainlink provides high-quality price data and resistance to manipulation.
Ripple has announced a collaboration with Chainlink to strengthen the adoption of its enterprise stablecoin RLUSD in the decentralized finance (DeFi) market. The partnership aims to integrate Chainlink’s price feeds, known for their high quality and resistance to manipulation, into DeFi applications that use RLUSD, thereby improving the accuracy and reliability of price data.
RLUSD, designed to maintain a 1:1 parity with the US dollar, operates on both the XRP Ledger and the Ethereum blockchain. Its architecture is focused on meeting business regulatory compliance standards while allowing integration with smart contracts and other decentralized applications.
RLUSD: A Stablecoin for Businesses
One of the main barriers to institutional adoption of DeFi is the need for high-quality price data. Chainlink’s infrastructure addresses this challenge by providing data sourced from multiple exchanges, weighted by volume, and filtered to prevent manipulation. This ensures that the prices reflect a fair global market average, both on-chain and off-chain.
Chainlink will allow RLUSD to benefit from a decentralized system for data management, increasing the security and reliability of the ecosystem. Chainlink’s network of nodes, managed by independent operators reviewed by security experts, ensures the resilience of the system even during periods of high demand or infrastructure disruptions.
Ripple Seeks to Improve RLUSD’s Position
Adopting the Chainlink standard for RLUSD will be crucial for expanding its use in the DeFi market, enabling developers to integrate this stablecoin into trading, lending, and other financial services applications. With this integration, Ripple aims to increase the trust and stability of RLUSD, ensuring its competitiveness.
Jack McDonald, senior vice president of stablecoins at Ripple, emphasized that this collaboration will be highly beneficial for both companies and will provide users with reliable and transparent data
