Meld Gold, a digital finance company, has recently made a significant announcement regarding its partnership with Ripple. The company has decided to launch a gold-backed stablecoin on the XRP Ledger (XRPL) in the third quarter of 2024. This move marks a pioneering step in the world of cryptocurrency and blockchain technology.
The decision to choose Ripple's XRP Ledger for launching the gold-backed stablecoin was based on the platform's reputation for reliability and stability in tokenizing and exchanging both crypto-native and real-world assets. This partnership will enable Meld Gold to bring institutional-grade functionality and built-in features to the creation and management of the stablecoin.
In the realm of Real World Assets (RWA), Meld Gold aims to leverage blockchain technology to tokenize tangible assets, such as gold and silver, which exist outside the digital landscape. By utilizing Ripple's XRP Ledger, the company will be able to tokenize these precious metals securely and efficiently, catering to a wide range of financial services and use cases.
In addition to the gold-backed stablecoin, Meld Gold has also announced the development of a stablecoin anchored to silver on Ripple's XRP Ledger. The Oro and Argento tokens will be made available in the third quarter of 2024, further expanding the offerings on the platform. This move demonstrates Meld Gold's commitment to innovation and leading the way in the tokenization of physical assets.
CEO Michael Cotton emphasized the importance of integrating Ripple's XRP Ledger alongside other prominent blockchains like Algorand. This strategic decision will provide users with unparalleled access to assets like gold and silver, supported by cutting-edge technologies and industry-leading practices. The launch of the Oro and Argento tokens represents a significant milestone in Meld Gold's journey towards revolutionizing the RWA market.
In a separate development, Ripple's CEO, Brad Garlinghouse, has made positive predictions about the future of XRP ETFs. Garlinghouse believes that the approval of new ETFs on XRP in the United States is inevitable, with expectations for significant developments by 2025. This news has generated excitement within the cryptocurrency community and highlights Ripple's growing influence in the ETF sector.
Meanwhile, XRP's current market value stands at $0.48, showing a slight decline from the previous week. Despite this, XRP remains a popular choice among investors and traders, with its price fluctuating in response to market dynamics. The outlook for XRP ETFs, coupled with Meld Gold's innovative endeavors on Ripple's XRP Ledger, signals a promising future for both the cryptocurrency and blockchain industries. As the launch of the gold-backed stablecoin draws near, the crypto community eagerly anticipates the impact of this groundbreaking collaboration on the digital asset landscape.
