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The Defiant 2025-01-08 12:11:45

Ripple Turns to Chainlink to Push RLUSD Stablecoin Into DeFi

Digital payment network Ripple is looking to make inroads into the decentralized finance (DeFi) marketplace with its new RLUSD stablecoin. Less than a month old, Ripple USD is a dollar-pegged stablecoin backed by U.S. dollars and Treasuries. Stablecoins are cryptocurrencies pegged to a fiat currency, usually the U.S. dollar, and can make expensive transactions that take days through the traditional financial system almost instantaneous and extremely cheap. While cross-border payments firm Ripple said it created the stablecoin “to accelerate the adoption of stablecoin-based payment,” it is also eager to boost its adoption in DeFi, which is likely to increase RLUSD’s market capitalization and utilization substantially. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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