The RLUSD stablecoin, designed to maintain a 1:1 ratio with the U.S. dollar, aims to showcase the expertise of Ripple in both the cryptocurrency and traditional financial industries.
It is available on both the XRP Ledger and Ethereum blockchains, and aims to provide compatibility with decentralized finance (defi) smart contract applications.
To ensure widespread adoption, developers require access to high-quality and tamper-proof price feeds and oracles. On Tuesday, Ripple announced that it has chosen to utilize Chainlink Price Feeds to meet this requirement, utilizing its infrastructure to provide consistent and accurate data.
Chainlink’s decentralized oracle network collects data from various sources, producing a volume-weighted average price that is resistant to manipulation and errors.
By incorporating this system, Ripple hopes to establish a secure and transparent environment for RLUSD.
