Ripple and Meld Gold Partnership for Real World Assets on XRP Ledger
A strategic collaboration between Ripple and Meld Gold has been established to introduce Real-World Assets (RWA) on the XRP Ledger (XRPL). This partnership aims to provide secure, efficient, and scalable financial services and use cases for builders and businesses.
With this integration, there will be a greater access to institutional-grade functionality and built-in features on XRPL, empowering businesses and developers to leverage the platform for various opportunities.
Introduction of Fungible Gold in Q3
The initial phase of the collaboration between Ripple and Meld Gold will see the delivery of fungible gold assets, along with silver assets on XRPL in the third quarter of 2024. Each token representing 1g of precious metals, obtained from industry giants like MKS Pamp and Imperial Vaults.
Meld Gold will also introduce necessary infrastructures to facilitate the on-chain introduction of a diverse range of assets, further enhancing transparency and accountability for the metals held and their locations.
Insight into the Partnership
Meld Gold’s CEO, Michael Cotton, highlighted the alignment of their vision with the forthcoming RWA revolution, emphasizing the disruption and advancement of digital ownership. This collaboration signifies a significant step towards bringing physical assets into the digital realm.
Blockchain technology, as a catalyst for global accessibility and ownership accountability, has continually advanced the realms of digital assets. XRPL’s decentralized nature and stability have positioned it as a trusted platform for the tokenization and exchange of a wide range of assets.
The integration of Meld Gold and XRPL is expected to boost the growth of the XRPL DeFi ecosystem, offering users access to the world’s largest-cap assets on-chain. This development is set to elevate the platform’s utility through features like DEX, AMM, payment systems, and upcoming EVM side and money market functionalities.
Impact on XRP and the Future Outlook
This collaboration is anticipated to have a positive influence on the price of XRP, which saw a minor decrease in value in the last 24 hours. The introduction of real-world assets on XRPL could enhance the overall value proposition of XRP and contribute to its broader adoption within the digital asset ecosystem.
