Meld Gold, a company specializing in physical asset tokenization, has announced a partnership with Ripple. As a result of this collaboration, Meld Gold will issue two new stablecoins on the XRP Ledger, backed by gold and silver respectively.
Each token will represent 1 gram of the precious metal, stored by leading storage providers MKS Pamp and Imperial Vaults. This will provide complete liquidity and the ability to exchange for real assets.
The initial integration of Meld Gold will bring fungible gold and silver assets to the XRP Ledger as early as Q3 2024. The company currently also supports similar digital assets on Algorand.
In addition, Meld Gold plans to present its innovative solution at the intersection of alternative physical assets and blockchain technologies in 2025.
Michael Cotton, CEO of Meld Gold, emphasized the importance of this release for the entire ecosystem of tokenization protocols in the XRP Ledger and the Web3 sphere as a whole: “Our team of industry experts has deep expertise 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 a perfect fit for the coming RWA revolution.”
Monica Long, president of Ripple, noted increased demand for RWA solutions from her B2B clients. She also added that the company is exploring various opportunities for tokenization on the XRP Ledger.
Meld Gold representatives emphasized that the integration with XRP Ledger was aimed at promoting the development of the DeFi ecosystem on XRP Ledger and offering the world's most accepted and best-capitalized assets on the network.
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