Ripple has adopted the Chainlink standard for high-quality pricing data on the Ethereum blockchain, according to A Announcement on Tuesday.

This will allow decentralized finance (DeFi) applications to obtain the latest asset prices transparently and securely.

After considering different solutions, Ripple claims to have decided to stick with Chainlink price feeds due to the high-quality data, secure node operators, strong reputation framework, and high level of decentralization.

Chainlink operates over a decentralized network of oracles that fetch and verify data from various trusted sources such as cryptocurrency exchanges.

The system verifies and averages the data, and determines the final price which is sent to the smart contract. Other smart contracts can query price feed contracts to be able to obtain the latest price feed data. Such interactions are essential for various decentralized finance (DeFi) applications.

As reported by U.Today, the institutional stablecoin Ripple was launched in December to much fanfare.

Recently, RLUSD recorded abnormally high bullish volume, raising some eyebrows within the XRP community.

According to data provided by CoinGecko, the market cap of RLUSD is $71.5 million at press time.

Meanwhile, Chainlink (LINK), the native token of the Chainlink network, has fallen more than 7% in the past 24 hours despite Ripple's announcement.