Ripple has announced an exciting initiative to adopt the Chainlink standard, which will significantly enhance the functionality of its RLUSD stablecoin. This move is aimed at improving the quality of pricing data for RLUSD, ensuring it maintains its 1:1 peg to the US dollar across decentralized finance (DeFi) platforms.

With RLUSD available on both the XRP Ledger and Ethereum blockchains, the integration of Chainlink Price Feeds will provide secure and reliable pricing data on the Ethereum mainnet. This will allow developers to seamlessly incorporate RLUSD into various DeFi applications, enabling activities such as:

• Trading
• Lending

This collaboration is expected to enhance the transparency and efficiency of the global financial system. By facilitating low-cost, instant settlements for both local and cross-border transactions, it aims to promote the adoption of tokenized assets like RLUSD. A representative from Chainlink Labs has expressed enthusiasm for this partnership, highlighting the importance of verifiable data in expanding the reach of stablecoins in the evolving financial landscape.

📎 Related coverage from: financialit.net