TLDR
- Ripple partners with Chainlink to provide price data feeds for RLUSD stablecoin
- RLUSD launched in December with NYDFS approval, currently at $77M market cap
- Integration enables real-time tamper-proof pricing for DeFi applications
- RLUSD works on both XRP Ledger and Ethereum networks
- Major platforms like Aave have already incorporated RLUSD with Chainlink feeds
The partnership between Ripple and Chainlink mark a new development in the stablecoin sector, as Ripple moves to enhance its RLUSD stablecoin with reliable price data feeds. The cooperation, announced on January 7, 2025, aims to strengthen RLUSD’s position in the growing decentralized finance (DeFi) ecosystem.
Launched in December 2024 after receiving approval from the New York Department of Financial Services (NYDFS), RLUSD currently has a market capitalization of $77 million. Stablecoin works across both the XRP Ledger and Ethereum networks, giving users flexibility in their transactions.
The integration with Chainlink provides secure and verifiable price feeds directly to the Ethereum network, where many DeFi applications operate. This addition addresses a crucial need in DeFi platforms, which require access to accurate real-time price information for various financial operations.
Through Chainlink’s price feeds, RLUSD now receives volume-weighted price data from multiple sources, both on-chain and off-chain. This extensive data collection method helps ensure accuracy and reliability of pricing information.
Jack McDonald, SVP of Stablecoin at Rippleexplained the reasons behind the choice of Chainlink:
“By leveraging the Chainlink standard, we bring reliable data on-chain, further strengthening RLUSD’s usability across both institutional and decentralized applications.”
The partnership appears to be yielding early results, with major DeFi protocols already taking notice. According to Chainlink community liaison Zach Rynes, Aave, a leading DeFi lending platform, has begun incorporating RLUSD into its ecosystem using these Chainlink-powered data feeds.
Johann Eid, Chief Business Officer at Chainlink Labs, commented on the broader implications:
“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.”
Chainlink’s technology has established itself as a trusted infrastructure provider in the blockchain space, supporting trillions of dollars in transaction value globally. The company has secured partnerships with various crypto projects, including the Coinbase-backed Base network.
Traditional financial institutions have also shown interest in Chainlink’s services. ANZ, a major banking organization, has partnered with the network to improve its operations, demonstrating the growing acceptance of blockchain technology in mainstream finance.
The implementation of Chainlink’s price feeds makes RLUSD more accessible to developers building DeFi applications. These flows provide the necessary infrastructure for various financial transactions, including trading and lending services.
For users of RLUSD, the integration means increased reliability in price data, which is essential for making informed financial decisions. The tamper-proof nature of Chainlink’s feeds adds an extra layer of security to transactions involving stablecoins.
The technical infrastructure supporting RLUSD now includes multiple data sources, helping to ensure that the stablecoin maintains its dollar peg through accurate price information. This multi-source approach helps protect against potential market manipulation or incorrect data.
DeFi platforms can now more easily integrate RLUSD into their services, knowing that they have access to reliable price data via the Chainlink network. This availability can help expand the use of stablecoin across various blockchain applications.
The partnership reflects the growing sophistication of the stablecoin market, as providers work to create more robust and reliable digital assets. RLUSD’s dual network presence on both the XRP Ledger and Ethereum, combined with Chainlink’s price feeds, positions it to serve a wide range of users and applications.
The latest data shows that RLUSD has maintained steady growth since its launch in December, with its current market capitalization of $77 million representing the stablecoin’s adoption across both networks.
