- Ripple and Meld Gold team up to introduce Real World Assets (RWA) on XRP Ledger (XRPL) to enable safe, efficient and use cases for the benefit of builders and businesses.
- The integration would also ensure the delivery of greater transparency in Q3 through accountability of metals and their location.
The strategic collaboration between Ripple and Meld Gold will allow Real-World Assets (RWA) to be integrated into the XRP Ledger (XRPL) and offer greater access, utility and efficiency by providing institutional-grade functionalities and integrated features.
According to the official statement, this would enable secure, efficient and scalable financial services and use cases.
Additionally, the collaboration will allow companies and developers to take advantage of the opportunities offered by XRPL, while offering benefits to users looking for better ways to own and interact with RWA.
Fungible gold will be delivered in the third quarter
The statement reviewed by the CNF team reveals that the initial integration of Meld Gold would ensure the delivery of fungible gold in addition to silver assets on XRPL in the third quarter of this year (Q3 2024). Interestingly, each token would appropriately represent 1g of the corresponding precious metal held by industry giants like MKS Pamp and Imperial Vaults.
Additionally, Meld Gold will provide the necessary infrastructures to introduce a number of assets into the chain through close collaboration with the precious metals and alternative physical asset industries.
After all this, it would offer greater transparency within the quarter through accountability of metals owned and their location.
Meld Gold would embark on a series of improvements including the “first implementation of patent-pending work on trust-minimized systems for connecting physical items to the blockchain”
Meld Gold and #Ripple team up to tokenize real-world assets on the Ledger #XRP, bringing ancient coins into the future of finance. In Q3, they will introduce gold and silver fungible assets, with each token representing 1g of precious metals held by industry leaders such as… pic.twitter.com/AeXol9BvrB-Collin Brown (@CollinBrownXRP) https://twitter.com/CollinBrownXRP/status/1799339697514131839?ref_src=twsrc%5Etfw
Learn more about the collaboration between Meld Gold and Ripple
According to Meld Gold CEO Michael Cotton, RWA’s next revolution would fit perfectly with its passion for disrupting and advancing digital ownership.
Our team of industry experts has deep experience in all components of the supply chain, from sourcing, certification and logistics, to warehousing and insurance. Our passion for disrupting and advancing digital ownership is ideal for the next RWA revolution. This is the industry that offers the systems that only they could design to bring the physical world onto the chain.
Over the years, blockchain technology has been leveraged to gain advantages such as immediate global accessibility, simple and secure ownership accountability, and standardized data lane for interoperability and speed.
In the case of XRPL, it has always existed as a decentralized layer 1 blockchain known for its long-standing reliability and stability in tokenization and exchange of native crypto and RWA. It is powered by XRP and was designed to support businesses and builders. Having perfectly fulfilled this mandate, it is trusted by more than 1,000 visionary builders and companies around the world.
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 widely accepted large-cap assets on-chain.
New and existing users will also be able to take advantage of XRPL’s native features, including DEX, AMM, payment systems, and the upcoming EVM and money market.
In the blockchain ecosystem, how assets are connected to the blockchain and how they are accurately accounted for have been the main components that are often overlooked. Meanwhile, precious metals always require trust, but it is often minimized to the required level.
This exciting development is expected to have a positive impact on the price of XRP, which had lost a 0.4% of its value in the last 24 hours to trade at $0.49.
