In a new partnership, Ripple has joined forces with Chainlink, a decentralized oracle network, to improve the adoption and functionality of its stablecoin, Ripple USD (RLUSD), in DeFi applications.
The collaboration, which was officially announced on January 7, will provide valuable pricing data for RLUSD on both Ethereum and the XRP Ledger.
The goal is to facilitate efficient transactions and support various DeFi use cases for the enterprise stablecoin.
RLUSD is backed by the US dollar and will benefit from Chainlink's secure and accurate data through its decentralized nodes.