In a major announcement for Ripple, tokenized gold is set to arrive on the XRP ledger in 2024. The partnership between Ripple and Meld Gold will introduce gold-backed stablecoins in the third quarter of this year.
The decision to use the XRP Ledger for this initiative was based on the reliability and stability that Ripple offers in tokenizing and exchanging both crypto and real-world assets.
Gold-Backed Stablecoin Coming to Ripple’s XRP Ledger
As we approach the midpoint of 2024, the finance industry has been captivated by the rise of gold and cryptocurrency. Gold and Bitcoin, the leading cryptocurrency, have reached all-time highs this year, cementing their importance in the investment sector.
The collaboration between Ripple and Meld Gold will bring together these two assets, with tokenized gold making its way to the XRP ledger. This partnership is expected to be significant, combining the world’s oldest currency with the utility and accessibility provided by XRPL.
Experts are predicting a target price of $2,900 for gold in 2024, underscoring its importance in the current market landscape. Ripple’s decision to introduce tokenized gold highlights the company’s commitment to innovation and its position as a key player in the industry.
Despite XRP facing challenges in gaining momentum this year, Ripple remains a prominent figure in the cryptocurrency space. The addition of tokenized gold to the XRP ledger is a testament to Ripple’s continued relevance and leadership in embracing the potential of digital assets, particularly in cross-border payments.
