- Ripple and Meld Gold join hands to introduce Real World Assets (RWA) on XRP Ledger (XRPL) to enable secure, efficient and use cases for the benefit of builders and businesses.
- The integration would also ensure the delivery of greater transparency in Q3 via the accountability of metals and their location.
A strategic collaboration between Ripple and Meld Gold would see Real-World Assets (RWA) integrated into XRP Ledger (XRPL) coupled with the offering of greater access, utility, and efficiency through the provision of institutional-grade functionality and built-in features. According to the official release, this would enable secure, efficient, and scalable financial services and use cases.
In addition to that, the collaboration will enable businesses and developers to build on XRPL opportunities while offering utilities to users seeking better ways to own and interact with RWAs.
Fungible Gold to be Delivered in Q3
The release reviewed by the CNF team discloses that the initial integration of Meld Gold would ensure that fungible golds are delivered in addition to silver assets on XRPL in the third quarter of this year (Q3 2024). Interestingly, each token would adequately represent 1g of the corresponding precious metal possessed by industry giants such as MKS Pamp and Imperial Vaults.
On top of that, Meld Gold would deliver the needed infrastructures meant to introduce a range of assets on-chain via close work with precious metals and alternative physical asset industries.
After all of these, it would deliver greater transparency within the quarter through the accountability of metals held and their location. Meld Gold would embark on a series of upgrades including the “first implementation of patent-pending work on minimized trust systems for connecting physical items to the blockchain.”
Meld Gold and #Ripple are teaming up to tokenize real-world assets on the #XRP Ledger, bringing ancient currencies to the future of finance. In Q3, they’ll introduce fungible gold and silver assets, with each token representing 1g of precious metals held by industry leaders like… pic.twitter.com/AeXol9BvrB— Collin Brown (@CollinBrownXRP) June 8, 2024
More on the Meld Gold and Ripple Collaboration
According to Meld Gold CEO Michael Cotton, the upcoming RWA revolution would perfectly fit their passion for disrupting and advancing digital ownership.
Our team of industry experts has deep experience in every component of the supply chain, from origination, certification, and logistics, to storage and insurance. Our passion for disrupting and advancing digital ownership is ideal for the coming RWA revolution. This is the industry, delivering the systems only they could design, to bring the physical world on-chain.
Over the years, blockchain technology has been leveraged for advantages including immediate global accessibility, simple and secure ownership accountability, and standardized data rail for interoperability and velocity. For XRPL, it has always existed as a decentralized layer 1 blockchain known for its long reliability and stability in the tokenization and the exchanging of crypto native and RWA. It is powered by XRP and was designed to support businesses and builders. Having perfectly delivered this mandate, it is trusted by more than 1,000 visionary builders and businesses worldwide.
According to experts, the integration of Meld Gold and XRPL would accelerate the growth of the XRPL DeFi ecosystem and provide the world’s most accepted largest-cap assets on-chain. New and existing users can equally take advantage of the XRPL’s native features which include DEX, AMM, payment systems, and the coming EVM side and money market.
In the blockchain ecosystem, how the assets are connected to the blockchain and how they are precisely accounted for have been the main components often overlooked. Meanwhile, precious metals always require trust but it is often minimized to the required level.
This exciting development is expected to positively impact the price of XRP which had lost 0.4% of its value in the last 24 hours to trade at $0.49.
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