Ripple and Chainlink Collaboration for RLUSD Adoption
- Ripple and Chainlink partner to bolster RLUSD adoption.
- RLUSD will leverage Chainlink’s standard to enhance the stablecoin’s utility and accessibility across DeFi.
Ripple is teaming up with Chainlink to bring its recently unveiled stablecoin RLUSD to more users across the decentralized finance ecosystem.
The RLUSD issuer, which is also behind the XRP cryptocurrency, announced this collaboration with Chainlink on Jan. 7.
Ripple and Chainlink Partnership Details
Ripple is leveraging Chainlink’s price feeds to provide high-quality pricing data for RLUSD. This standard ensures verifiable data on Ethereum, enhancing the stablecoin’s utility and accessibility across DeFi, thereby broadening its adoption within a rapidly growing ecosystem.
Stablecoin Adoption and Future Trends
Stablecoin adoption, currently led by Tether’s USDT and Circle’s USDC, is expected to gain significant traction in the near future. The integration of tokenized assets like stablecoins will continue to accelerate, with on-chain data playing a crucial role in this process.
According to Johann Eid, Chief Business Officer at Chainlink Labs, “Having access to critical on-chain data will accelerate the adoption of tokenized assets in the coming years.”
Impact on DeFi Market
The collaboration between Ripple and Chainlink will empower DeFi applications in trading, lending, and other key market segments. Developers can seamlessly integrate RLUSD into their applications, thanks to the unified solution offered by the Chainlink standard.
Jack McDonald, Ripple’s SVP of Stablecoin, emphasized the importance of reliable and transparent pricing in maintaining stability and trust within decentralized markets. By leveraging the Chainlink standard, RLUSD’s utility is further strengthened across institutional and decentralized applications.
Ripple introduced RLUSD, a stablecoin pegged 1:1 to the US dollar, in December 2024. The initial issuance is on the XRP Ledger and Ethereum blockchains, with a current market cap of $53.09 million and approximately $21.8 million in daily trading volume.
