According to a recent press release, Ripple will team up with Chainlink to further adopt RLUSD Stablecoin.
Below are the key highlights from the press release; you can read the full release below for more details.
Ripple & Chainlink Partnership: Ripple adopts Chainlink to reliably bring RLUSD stablecoin price data on the Ethereum blockchain.
Related: Phantom Wallet’s Top 5 Swaps: Last Week’s Biggest Movers
RLUSD Stablecoin: An enterprise-grade, USD-pegged asset issued on the XRP Ledger and Ethereum, designed for trust, utility, and compliance.
Chainlink Benefits:
- High-quality, aggregated price data
- Secure, tamper-proof oracle nodes
- Decentralized network structure
- Robust reputation framework
DeFi Integration: Reliable RLUSD pricing supports trading, lending, and other use cases, helping accelerate adoption in decentralized finance.
Stablecoin Opportunity: RLUSD promotes low-cost, instant settlement, driving broader stablecoin-based payment adoption.
Let me know in the comment below what you think of this partnership.
Official Press Release From Ripple
Ripple is now leveraging the Chainlink standard to bring high-quality pricing data around the Ripple USD (RLUSD) stablecoin onchain. RLUSD is an enterprise-grade, USD-denominated stablecoin created with trust, utility, and compliance at its core, backed by Ripple’s years of experience working with crypto and the existing financial system. By adopting the Chainlink standard for verifiable data on the Ethereum blockchain, Ripple is enhancing the utility of RLUSD across the onchain economy.
Chainlink Price Feeds are now live providing a secure, reliable source of RLUSD pricing data on Ethereum mainnet, enabling developers to integrate support for RLUSD into their DeFi applications for use cases such as trading, lending, and more.
With the Chainlink standard, Ripple is able to provide the RLUSD ecosystem access to high-quality offchain data through Chainlink’s battle-tested infrastructure, which has enabled over $18 trillion in transaction value and is trusted by the world’s largest financial institutions.
The Stablecoin Opportunity
Stablecoins present a significant opportunity to redefine the way businesses and consumers engage in financial transactions by enabling low cost, instant settlement of local and cross-border payment transactions. To accelerate the adoption of stablecoin-based payment, Ripple recently launched RLUSD, designed to maintain value 1:1 to the US dollar (USD).
Issued on the XRP Ledger (XRPL) and Ethereum blockchains, RLUSD is natively composable with smart contract applications such as those seen in DeFi. However, to support RLUSD as an asset, many DeFi applications first require a high-quality, reliable source of price data to manage risks.
The Chainlink standard provides a unified solution to overcome these hurdles and provide the data required to accelerate RLUSD’s adoption within DeFi and fully realize the stablecoin opportunity.
Enabling Secure Onchain Markets With Chainlink Price Feeds
To enable secure onchain markets around RLUSD, DeFi applications need access to fresh asset prices that are supplied directly onchain in a highly reliable and tamper-proof manner. Fair market asset prices should reflect a volume-weighted average from all trading environments, both onchain and offchain, with a decentralized oracle network infrastructure to fetch, aggregate, and deliver financial market data onto the Ethereum blockchain.
After reviewing various oracle solutions, Ripple chose Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
- Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
“We’re thrilled to be working with Ripple on accelerating the adoption of their recently launched RLUSD stablecoin through the adoption of the Chainlink standard for verifiable data. The adoption of tokenized assets such as stablecoins will continue to accelerate in the coming years and having access to critical onchain data will accelerate the process.” – Johann Eid, Chief Business Officer at Chainlink Labs
“As RLUSD scales across DeFi ecosystems, reliable and transparent pricing is essential to maintaining stability and building trust in its utility within decentralized markets. By leveraging the Chainlink standard, we bring trusted data onchain, further strengthening RLUSD’s utility across both institutional and decentralized applications.”- Jack McDonald, SVP, Stablecoin at Ripple
At CryptoDecoded.co, we’re real people dissecting the world of blockchain—no bots allowed. (Yes, this article was 100% human-authored!) Keep up with us on Instagram, or say hi at [hello@cryptodecoded.co]