Ripple Integrates Chainlink to Boost RLUSD Adoption
RLUSD, Ripple's stablecoin, announced that it will integrate data provider Chainlink (LINK) to improve the performance and adoption of RLUSD with Decentralized Finance (DeFi) protocols.
This is done to accelerate the adoption of RLUSD in decentralized finance and increase its use in efficient and secure cross-border payments. This is because Chainlink provides the data needed by DeFi applications for risk management.
Chainlink has a feature called "Chainlink Price Feeds" which is high-quality data from top aggregators and exchanges that are sterilized from inaccurate trading. In addition, Chainlink provides decentralized data that protects against interference, as well as a monitoring tool to verify network performance.
"By leveraging the Chainlink standard, we are bringing trusted data to the chain, further strengthening the utility of RLUSD across institutional and decentralized applications," said Ripple's Senior Vice President of Stablecoin Jack McDonald.