Meld Gold has teamed up with Ripple, a prominent U.S. fintech company, to launch Gold and Silver tokens on the XRP Ledger in the third quarter of 2024. These tokens will be backed by physical Gold and Silver assets, with each token representing 1 gram of the precious metal held by leading custody providers MKS Pamp and Imperial Vaults. This partnership marks a significant step towards tokenizing alternative physical assets on the XRPL, offering users the opportunity to access Gold and Silver assets on-chain.
The integration of Meld Gold’s Gold and Silver assets on XRPL aims to contribute to the growth of the DeFi ecosystem on the platform. By providing essential liquidity and leveraging XRPL’s native features such as decentralized exchanges, automated market makers, payment systems, and upcoming features like the EVM side and money market, new and existing users can benefit from the accessibility and versatility of these assets. Ripple’s CTO, David Schwartz, has previously highlighted the potential of tokenized commodities in driving the adoption of RWAs on XRP Ledger and its ecosystem of decentralized applications.
With the increasing demand for Real World Asset (RWA) solutions from Ripple’s B2B customers, the launch of Gold and Silver tokens on XRPL by Meld Gold comes at a crucial time for the tokenization protocols on the XRPL and the broader Web3 ecosystem. Meld Gold’s CEO, Michael Cotton, emphasized the company’s expertise in every aspect of the supply chain, from origination and certification to storage and insurance, making them well-positioned to lead the RWA revolution in the digital ownership space. The partnership with Ripple underscores the growing interest in tokenization opportunities on XRPL, as Ripple explores various avenues for further tokenization on the platform.
As Meld Gold prepares to release its Gold and Silver tokens on XRPL in Q3, 2024, the company is pioneering the intersection between alternative physical assets and blockchain technology spheres. In addition to their current digital assets on Algorand (ALGO), Meld Gold plans to offer innovative solutions that enhance digital ownership and pave the way for a new era of tokenization protocols. By bringing physical assets like Gold and Silver onto the blockchain, Meld Gold is poised to revolutionize the way such assets are accessed and traded in the digital realm.
Overall, the launch of Gold and Silver tokens on XRPL by Meld Gold in partnership with Ripple represents a significant development in the tokenization space. With a focus on enhancing the DeFi ecosystem on XRPL and making Gold and Silver assets more accessible to users, this partnership sets the stage for a new wave of innovation in the digital ownership and asset tokenization spheres. As the demand for RWA solutions continues to grow, Meld Gold’s integration with XRPL signals a broader shift towards embracing real-world assets in the blockchain ecosystem, bringing tangible assets like Gold and Silver into the digital realm for wider accessibility and utilization.
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