The GOLD and SILVER assets will represent 1 gram of each of the precious metals and will be fully redeemable for gold bars and silver bars, respectively. The community expects more gold-backed stablecoins to be launched on the XRP Ledger rails.
The GOLD and SILVER assets will represent 1 gram of each of the precious metals and will be fully redeemable for gold bars and silver bars, respectively. The community expects more gold-backed stablecoins to be launched on the XRP Ledger rails.
Meld Gold Partners with Ripple, Launches Gold and Silver Tokens on XRPL in Q3
Tokenization innovators Meld Gold partnered with Ripple, an American fintech decacorn. As a result of the partnership, Meld Gold will launch two new stablecoins on XRP Ledger, backed by Gold and Silver, respectively. Each token will represent 1g of the precious metal held by major custody providers MKS Pamp and Imperial Vaults, an official statement says.
Meld Gold’s initial integration will deliver fungible gold and silver assets on XRPL in Q3 2024. As of now, the company holds similar digital assets on Algorand (ALGO), another programmable L1.
Additionally, Meld Gold expects its own pioneering solution at the intersection between alternative physical assets and blockchain technology spheres in 2025.
Michael Cotton, CEO of Meld Gold, highlighted the importance of this launch for the entire ecosystem of tokenization protocols in XRPL and the Web3 sphere as a whole:
Our team of industry experts has extensive experience in every component of the supply chain, from sourcing, certification and logistics to warehousing and insurance. Our passion for revolutionizing and advancing digital ownership is ideal for RWA’s next revolution. This is the industry, which offers the systems that only they can design to incorporate the physical world into the chain.
As Ripple President Monica Long announced, the company is seeing increased demand for RWA solutions from its B2B customers.
Tomiwabold OlajideLong added that Ripple is exploring various opportunities for tokenization in XRPL, as Guru-Investingpreviously reported.
More RWA Opportunities for XRPL DeFi Ecosystem
Meld Gold representatives highlighted that the integration with XRPL was focused on helping grow the XRPL DeFi ecosystem, offering the most accepted and highest capitalization on-chain assets in the world.
By increasing essential liquidity, new and existing users can take advantage of XRPL’s native features including DEX, AMM, payment systems, and the upcoming EVM and money market side.
Tomiwabold OlajideAs previously reported by Guru-InvestingRipple CTO David Schwartz pointed to the tokenized commodity sphere as a powerful catalyst for RWA adoption on XRP Ledger and its dApps ecosystem.
