In the third quarter of 2024, the XRPL ecosystem is set to make a groundbreaking move in asset tokenization as Meld Gold partners with Ripple to introduce new stablecoins backed by gold and silver. These tokens will be directly linked to 1 gram of the respective precious metals and can be exchanged for physical gold and silver bars.
The cryptocurrency community eagerly anticipates the launch of these stablecoins, as it represents a significant expansion of stablecoins supported by tangible assets. This pioneering initiative will make gold and silver available in a tokenized and tradable form on XRPL for the first time, opening up new possibilities for engaging with these valuable resources.
Meld Gold, renowned for its innovative tokenization solutions, already oversees similar digital assets on the Algorand blockchain. In addition to this new venture, the company plans to introduce a cutting-edge solution in 2025 that explores the fusion of physical assets and blockchain technology.
CEO of Meld Gold, Michael Cotton, emphasized the significance of this partnership: “Our team of industry experts possesses extensive experience in every aspect of the supply chain, from origination and certification to logistics, warehousing, and insurance. Our dedication to revolutionizing and advancing digital ownership positions us perfectly for the upcoming RWA revolution, delivering systems designed to seamlessly integrate the physical world into the digital grid.”
At the time of writing, the price of XRP stood at US$0.4971, reflecting a 1% increase in the past 24 hours.
Please note that the opinions expressed in this article are for informational purposes only and do not constitute financial advice. Investing or trading cryptocurrencies carries a risk of financial loss.
In an exciting development, Meld Gold is set to join the XRPL, marking a significant step towards launching physical RWAs on the platform. Stay tuned for more updates on this pioneering move. #XRPL #XRPLedger #BuiltOnXRPL
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