Ripple announced a major development in the future of the company by stating that the XRP ledger will be able to store tokenized gold as early as 2024. Digital finance company Meld Gold took to X (formerly Twitter) Ripple has announced a partnership that will result in gold-backed stablecoins arriving during Q3 of the year.
The partnership also includes a stablecoin backed by silver. Moreover, it stated that the decision was taken to use XRP Ledger due to its reliability. “reliability and stability” Ripple’s tokenization, exchange and trading of crypto-assets and physical assets.
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Ripple’s XRP Ledger will soon have a gold-backed stablecoin.
Gold and crypto have been the focus of finance as 2024’s midpoint approaches. This year, both the gold and Bitcoin (the leading cryptocurrency) have reached new highs. In addition, both have become relevant in the wider investment world.
These two assets could form a partnership that is of great importance. Ripple announced in fact that tokenized metal will be coming to the XRP blockchain by 2024. The tokenized metal will be available on XRPL due to a partnership formed between Ripple, Meld Gold and XRPL.
They took to X and announced the partnership, as well as what investors can expect. They revealed that the XRPL would launch both silver and gold tokens in Q3. Further, it would also include a combination of both gold and silver tokens. “the world’s oldest currency with the reliability, utility, and accessibility offered by XRPL.”
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So far in 2018, gold has been a major player. Analysts have predicted a price target of $2900 by 2024. This has combined with the increasing relevance of cryptocurrency as Ripple was at the forefront in those discussions.
Ripple’s relevance has not diminished despite the fact that XRP struggled this year to gain momentum. Ripple’s increasing vitality is evident in the latest launch of tokenized Gold. This network is also the leading provider of cross-border payment services, as it has embraced a world that utilizes digital assets’ immense potential.
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Source: watcher.guru