Ripple has partnered with the decentralised oracle network Chainlink to speed the integration of the RLUSD stablecoin into DeFi.
.@Ripple x @Chainlink: $RLUSD has adopted the Chainlink standard for verifiable data to fuel DeFi adoption with real-time, secure pricing data.
The future of stablecoins is here: https://t.co/mq3cThLGQJ pic.twitter.com/993Ac0o282
— Ripple (@Ripple) January 7, 2025
“Chainlink price feeds are already available, providing a secure and reliable source of data on RLUSD on the Ethereum mainnet. This allows developers to integrate support for the stablecoin into their DeFi applications for use cases such as trading, lending and much more,” the press release says.
According to the developers, the new stablecoin, issued on the XRP Ledger (XRPL) and Ethereum, is natively composable with applications and smart contracts.
“However, to support RLUSD as an asset, many DeFi platforms first require a high-quality and reliable source of price data,” representatives of the fintech company noted.
For now, RLUSD, launched in December, ranks 724th on CoinGecko with a market capitalisation of $72.2 million.
In August 2024, Ripple began testing the stablecoin. At the time, chief executive Brad Garlinghouse said the asset, suitable for payments, RWA and DeFi, would become “the gold standard for the enterprise sector”.