Ripple Teams Up with Chainlink to Boost RLUSD

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Ripple has joined forces with Chainlink, a decentralized network that provides trusted external data, in order to enhance the adoption and usefulness of Ripple USD (RLUSD) in decentralized finance (DeFi) applications.

Their partnership, announced on January 7th, will supply price information for RLUSD on both Ethereum and the XRP Ledger, with the goal of supporting cost-effective transactions and DeFi use cases for the enterprise-level stablecoin.

By leveraging Chainlink’s decentralized nodes, RLUSD will receive accurate and tamper-proof data, reducing the risk of manipulation or downtime.

According to Colin Cunningham, head of tokenization and alliances at Chainlink Labs, this partnership is a positive signal for the market and the team is excited to support the launch of RLUSD.

RLUSD is pegged to the US dollar and is intended to facilitate secure and affordable transactions for payments, trading, lending, and other DeFi use cases.

As part of its vision for blockchain-based finance, Ripple has integrated with Chainlink to ensure real-time, high-quality market data is constantly available for the stablecoin.