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Discover the latest strides in tokenization as Ripple and Meld Gold introduce Gold and Silver-backed stablecoins on the XRP Ledger, revolutionizing digital ownership with real-world asset integration.
In an exciting development for the cryptocurrency landscape, Meld Gold has partnered with Ripple, marking a significant advancement in the realm of asset tokenization. Together, they will launch stablecoins backed by Gold and Silver on the XRP Ledger (XRPL). Each of these stablecoins will represent one gram of physical Gold or Silver, held securely by established custody providers such as MKS Pamp and Imperial Vaults.
This partnership represents a groundbreaking fusion of blockchain technology and precious metals. Meld Gold’s assets on XRPL will initially introduce fungible Gold and Silver tokens in Q3 of 2024. This move follows their previous success in launching similar assets on the Algorand platform. Looking ahead, Meld Gold anticipates further advancements in 2025, promising more robust solutions that bridge physical assets with digital frameworks.
Ripple’s president, Monica Long, has highlighted a growing demand for real-world asset (RWA) solutions among the company’s B2B clientele. This increased interest underscores Ripple’s commitment to exploring diverse tokenization opportunities on the XRPL. As this trend gains momentum, it is poised to significantly impact the broader Web3 and tokenization ecosystem.
The collaboration between Meld Gold and Ripple is set to invigorate the XRPL DeFi ecosystem by securing essential liquidity and offering widely accepted assets on-chain. New and existing users will be able to leverage XRPL’s intrinsic features, such as decentralized exchanges (DEX), automated market makers (AMM), and payment systems. The introduction of EVM-side chain integrations and money markets will further amplify these offerings.
Ripple’s Chief Technology Officer, David Schwartz, has identified the tokenization of commodities as a significant driver for the adoption of RWAs on the XRP Ledger. This strategic focus is expected to fuel the development of decentralized applications (dApps) within the ecosystem, creating novel use cases and financial opportunities.
The launch of Gold and Silver tokens on the XRPL marks a significant milestone in the integration of physical and digital assets. This partnership not only enhances the liquidity and robustness of the XRPL DeFi ecosystem but also sets the stage for increased adoption of tokenized commodities. As Ripple and Meld Gold continue to innovate, the future of digital ownership and real-world asset tokenization looks promising.
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