The post Ripple partners with Chainlink to improve RLUSD stablecoin pricing appeared on BitcoinEthereumNews.com.

Ripple has integrated Chainlink’s blockchain technology to provide reliable pricing data for its RLUSD stablecoin. RLUSD, a USD-backed digital currency, is designed for secure, instant payments and is supported on both the (XRP) Ledger and Ethereum (ETH) blockchains. With this collaboration, Ripple aims to boost RLUSD’s utility across decentralized finance applications. DeFi refers to blockchain-based financial services that eliminate intermediaries, such as banks. These applications rely on smart contracts — automated programs that execute transactions based on predefined rules. Stablecoins like RLUSD are crucial to DeFi because they offer price stability by being pegged to traditional currencies like the US dollar. Chainlink’s price feeds For RLUSD to be effective in DeFi applications, such as lending or trading, accurate pricing data is essential. This is where Chainlink (LINK) comes into play. Chainlink uses a decentralized network of oracles — systems that connect blockchain applications to real-world data — to provide up-to-date and tamper-proof pricing information. By adopting Chainlink’s Price Feeds, Ripple ensures that RLUSD’s value reflects real-world market conditions. The system aggregates data from multiple trading environments, reducing inaccuracies and minimizing the risk of manipulation. Ripple selected Chainlink because of its proven security, decentralized network, and strong reputation for reliability. At the time of writing, Ripple’s price was trading at $2.43. There is growing optimism that the U.S. Securities and Exchange Commission will approve a spot Ripple ETF in 2025. Companies such as Bitwise, Canary Capital, 21Shares, and WisdomTree have already submitted their XRP ETF proposals. Source: https://crypto.news/ripple-partners-with-chainlink-to-improve-rlusd-stablecoin-pricing/

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Filed under: News - @ January 7, 2025 3:28 pm