- Recent collaborations between Ripple, Meld Gold and the XRP Ledger will likely result in stablecoins backed up by gold and Silver on the XRPL.
- Each token represents 1g of metal.
On June 1, Ripple Meld Gold announced a strategic alliance with XRP Ledger to incorporate Real World Assets. We are a team of professionals who can help you. indicated earlierThe collaboration was intended to give RWA more access, utility and efficiency. It ensured that institutional-grade features are provided for secure, efficient and scalable financial services.
Ripple has launched its partnership two months later. Meld Gold announced that it would be releasing two stablecoins to the XRPL. The reportThe stablecoins are backed by silver and gold, each token representing one gram of precious metal. According to the official statement, these MKS Pamp & Imperial Vaults, two renowned providers of custody services will be in charge.
Analysts have applauded this idea. They claim that it will provide users with a more convenient and secure method of trading digital gold and Silver. The precious metals market will also see a significant increase in liquidity as metals are made more available.
The adoption of Ripple could grow in the future as the network attracts investors both from the institutional and retail sectors. Users may be able to take advantage of the native features that XRPL offers, including DEX, AMM and payment systems.
XRPL: More information on Gold and Silver integration
According to a blog post that announced this plan, the collaboration was expected to enhance the Decentralized Finance (DeFi) System.
Michael Cotton is the CEO at Meld Gold. According to him, his passion in promoting digital ownership and the RWA revolution are important.
Our industry experts have extensive experience across the entire supply chain, including origination, logistics, storage, and certification. For the RWA revolution, our passion to disrupt and advance digital ownership makes us the perfect partner. It is this industry that will bring physical assets on-chain.
Meld Gold’s reputation is built on integrating assets into the blockchain by working closely alongside precious metals.
The report states that the digital assets and gold are to be integrated in the XRPL by the third quarter (Q3 2020). The company will provide greater transparency and implement the “first implementation of patent-pending work on minimized trust systems for connecting physical items to the blockchain.”
Blockchain technology has many advantages. These include immediate access to the world, secure and simple ownership accounting, standard data rails, interoperability, and speed. A key component, often overlooked, is how the assets are connected to the blockchain and precisely how they are accounted for…Meld Gold’s subject matter expertise in alternative physical assets and blockchain technology has led to the development of its pioneering technology, slated for release in 2025.
Experts believe that this partnership highlights Ripple’s potential to affect the money sector through increasing accessibility of silver and gold. This collaboration is also in line with XRPL’s goal to increase the usage of XRPL, while facilitating a combination of traditional asset and blockchain technologies.
As of press time XRP After a surge of by 4% In the past 24 hours, 5% Last seven days
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