Ripple, an enterprise-focused blockchain service closely related to the XRP Ledger (XRP), said Tuesday that it will use data provider Chainlink’s (LINK) services to better integrate its RLUSD stablecoin with decentralized finance (DeFi) applications.
This feature, which went live today on the Ethereum blockchain, allows developers to incorporate RLUSD into DeFi protocols for trading, lending and other activities.
The company rolled out its U.S. dollar-pegged RLUSD stablecoin to the broader public on Ethereum and the XRP Ledger networks last month. Currently, the token has a $72 million market capitalization, according to CoinGecko data.
By adopting the Chainlink standard, Ripple aims to accelerate RLUSD adoption across decentralized finance (DeFi) and boost its appeal for secure, low-cost cross-border payments. DeFi applications often require reliable pricing data to manage risks associated with stablecoin use. Chainlink’s infrastructure, which have facilitated over $18 trillion in…
