XRP Ledger (XRPL) to launch gold and silver tokens in 2024

In the upcoming third quarter of 2024, the XRP Ledger (XRPL) ecosystem will take a significant step in asset tokenization with the introduction of new stablecoins backed by gold and silver, thanks to the partnership between Meld Gold and Ripple, one of the giants of fintech sector. These tokens will be directly backed by 1 gram of the respective precious metals and can be redeemed for physical gold and silver bars.

The launch of these stablecoins is met with great anticipation by the cryptocurrency community, which awaits the expansion of stablecoins backed by physical assets. This pioneering initiative marks the first time that assets such as gold and silver will be available in a tokenized and tradable form on XRPL, enabling a new way of interacting with these valuable resources.

Meld Gold, known for its leadership in innovative tokenization solutions, already manages similar digital assets on the Algorand blockchain. With the aim of expanding its offerings, the company also plans to launch an innovative solution in 2025, which will explore the intersection between physical assets and blockchain technology.

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The time has come, @meldgold is coming to XRP Ledger (#XRPL)!

Learn more about this pioneering step to launch physical #RWAs on the #XRPL.#XRPLedger #BuiltOnXRPL

🧵👇 pic.twitter.com/ObyuRgA3RJ

— Meld Gold (@meldgold) June 7, 2024

Michael Cotton, CEO of Meld Gold, highlighted the importance of this initiative: “Our team of industry experts has deep experience across all components of the supply chain, from origination, certification and logistics to warehousing and insurance. Our passion for revolutionizing and advancing digital property is ideal for the upcoming RWA revolution. This is the industry, delivering the systems that only they could design, to bring the physical world online.”

At the time of publication, the price of XRP was quoted at US$0.4971 with an increase of 1% in the last 24 hours.

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