Ripple Collaborates With Chainlink To Increase RLUSD Stablecoin Adoption

JAKARTA - Ripple Labs, a leading blockchain company focused on cross-border payment solutions, recently announced a strategic partnership with the Chainlink network.

This collaboration aims to integrate Chainlink Standard into their latest stablecoin, Ripple USD (RLUSD), which is supported by fiat currencies. By adopting Chainlink technology, Ripple hopes to increase the reliability and adoption of RLUSD, especially in the fast-growing market for decentralized applications (DeFi) and global payment sectors.

One of the main advantages of this partnership is the ability to provide transparent and reliable price data on the Ethereum (ETH) network, which is the largest DeFi ecosystem.

Chainlink, known for its high-quality price pass, will ensure the right RLUSD price on the Ethereum mainnet, providing a solid basis for the DeFi protocol to provide a proven solution.

Jack McDonald, Senior Vice President of Stablecoin at Ripple, said, "With the larger RLUSD scale in the DeFi ecosystem, accurate and transparent pricing is key to maintaining stability and building trust in decentralized markets."

With a stablecoin market value now reaching 212 billion US dollars (Rp3,434 trillion) and a daily trading volume of around 97 billion US dollars (Rp1,571 trillion), Ripple wants to seize some of this huge market share. They compete with established stablecoins such as the USDC from Circle and USDT from Tether. It is hoped that RLUSD will be able to take advantage of the rapid growth of the DeFi sector and strengthen Ripple's role in the global market.

After the announcement of the partnership, the price of XRP, the original Ripple token, recorded a 2.2% increase in the last 24 hours, trading around $2.43 on Tuesday, January 7. The XRP community, known as the XRP Army, seems to be starting to be optimistic about the long-term impact of the adoption of RLUSD's new stablecoin and Ripple collaboration with Chainlink.