The XRP Ledger (XRPL) will soon facilitate its own gold and silver stablecoins. This was announced by Meld Gold, a pioneer in tokenization, which has entered into a partnership with Ripple. This development is an important part of expanding the applications on the XRPL network, which could potentially attract new users.
The price of XRP reacted slightly positively to the news, rising 0.7% in the past 24 hours. Despite this, the altcoin still remains below the $0.50 price line, following a price correction on June 7. Then the price fell from $0.526 to $0.487, a drop of about 7.5%. Since then, the price has risen again to $0.497.
Launching in Q3 of 2024
Meld Gold has announced that the new gold and silver stablecoins will be launched in the third quarter of this year. Each token of these stablecoins will be equal to 1 gram of the precious metal in question. The management of the precious metals will be carried out by MKS Pamp and Imperial Vaults.
These stablecoins on the XRPL network are not the first precious metal tokenizations that Meld Gold has achieved. The company previously launched a similar stablecoin on the Algorand (ALGO) network, another major smart contract platform. Meld Gold is expected to conduct further tokenizations in the future, possibly on other blockchain platforms.
The future of Real World Assets (RWA) on the blockchain
Meld Gold CEO Michael Cotton is excited about the future of the tokenization market. He believes that many Real World Assets (RWA) will be tokenized on blockchain networks in the future. Cotton explains:
“Our team of industry experts has deep experience in every part of the supply chain, from manufacturing, certification and logistics to warehousing and insurance. Our passion for innovating and advancing digital ownership is perfect for the coming RWA revolution. We are the industry that can deliver the systems that only we can design, to bring the physical world on-chain.”
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Source: https://newsbit.nl/eerste-goud-en-zilver-stablecoins-binnenkort-gelanceerd-op-de-xrp-ledger/
