Ripple's enterprise stablecoin, RLUSD, is getting a boost with Chainlink's battle-tested oracle network as the company aims to bring RLUSD to decentralized finance.
After facilitating over $18 trillion in transaction value across institutional markets, Chainlink's partnership with Ripple would enable decentralized apps to access its price feeds, expanding the use of Ripple's stablecoin for trading, lending, and other financial services.
Position could be affected by the move The RLUSD In order to be competitive in the fast-growing institutional DeFi market, reliable pricing feeds and a robust infrastructure is essential.
"As RLUSD scales across DeFi ecosystems, reliable and transparent pricing is essential to maintaining stability and building trust in its utility within decentralized markets," Jack McDonald, SVP Stablecoins at Ripple said in a shared statement. Decrypt.
The integration addresses a crucial barrier to institutional DeFi adoption—the need for high-quality, tamper-resistant price data.
Chainlink's infrastructure sources pricing information from hundreds of exchanges, weighted by volume and filtered for manipulation attempts.
Stablecoin adoption continues “to accelerate in the coming years,” Johann Eid is the Chief Business Officer of Chainlink Labs. “Having access to critical onchain data” Eid, according to Eid, claims that the speed of this process would be increased.
Launched XRP has seen a rise in prices In December of last year, RLUSD operated on the XRP Ledger as well as the Ethereum Blockchain, with the goal to maintain a value that was 1:1 the U.S. Dollar.
Ripple claims that stablecoin's architecture emphasizes enterprise compliance while enabling composability, which refers to its ability to connect with and build on top of other decentralized apps.
Chainlink's reputation system, meanwhile, provides on-chain monitoring tools that allow users to independently verify the performance of node operators and oracle networks, a key consideration for institutional risk management.
Sebastian Sinclair is the editor