Ripple Uses Chainlink (LINK) Services to Integrate RLUSD Stablecoin With 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.

Enterprise blockchain service Ripple, which is closely affiliated with the XRP Ledger (XRP), announced Tuesday an integration of its RLUSD stablecoin with decentralized finance (DeFi) applications, using data provider Chainlink's (LINK) services.

This integration, which went live today on the Ethereum blockchain, will enable developers to integrate RLUSD into DeFi protocols for trading, lending and more.

The company rolled out its U.S. dollar-pegged RLUSD stablecoin to the general public on the Ethereum and XRP Ledger networks last month. At present, 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 transaction value according to the protocol, bridges this gap.

"Enabling seamless functionality across DeFi will allow RLUSD to support a growing number of use cases in decentralized financial systems," Jack McDonald, senior vice president of stablecoin at Ripple, told CoinDesk.

"Integrating Chainlink Price Feeds provides RLUSD with the essential infrastructure it needs to deliver accurate and decentralized pricing data to DeFi applications," he added. "This ensures that protocols using RLUSD for a broad range of financial activities can operate reliably and transparently."