Ripple will enhance the RLUSD’s presence in the decentralized finance (DeFi) space by integrating Chainlink’s live price feeds.
According to its tweet, Chainlink revealed that Ripple will implement this feed to provide highly secure and reliable price data for the RLUSD stablecoin. The XRP Ledger and Ethereum blockchains provide technological support for the RLUSD, a USD-pegged cryptocurrency.
By design, RLUSD enables secure and instant payments. By partnering with Chainlink, Ripple can boost the stablecoin’s utility across decentralized finance (DeFi) applications.
These applications eliminate intermediaries such as banks since their financial services are based on decentralized technology. They rely on automated programs that follow pre-defined instructions to execute transactions.
.@Ripple has adopted the Chainlink standard to access highly secure & reliable pricing data around the recently launched Ripple USD (RLUSD) stablecoin.
Learn how Chainlink Price Feeds are set to accelerate the adoption of RLUSD across the DeFi ecosystem: https://t.co/BKJIgG0mpS
— Chainlink (@chainlink) January 7, 2025
Chainlink’s Effective Tools
Chainlink uses decentralized oracle networks to provide current and reliable prices, which makes RLUSD useful in DeFi applications like trading or lending. Oracle networks are systems that allow the integration of real-world data with blockchain applications.
This system reduces errors and minimizes manipulation risks by collating data from various trading platforms. Ripple chose Chainlink due to its strong reputation for reliability and proven security system.
Beyond enabling seamless transactions, this integration could also allow RLUSD to become a major player in the tokenized asset space.
Possible Approvals for Spot XRP and Solana ETFs?
With Donald Trump‘s inauguration as the next US president, many industry analysts are confident that the US Securities and Exchange Commission (SEC) will approve spot ETFs for XRP and Solana. Popular asset managers like WisdomTree, Canary Capital, Bitwise and 21shares have submitted their proposal for a spot XRP ETF.
On Jan. 5, 2025, Ripple CEO Brad Garlinghouse noted that Trump’s inauguration will signal the start of a bull run in the crypto market. He added that Ripple would access business opportunities in the US, which the previous SEC Chair, Gary Gensler, denied the firm with the long-standing court case.
He further said that the Trump effect is taking shape following the appointments of Paul Atkins, David Sacks, and Scott Bessent.
Disclaimer
This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
