More RWA Opportunities for XRP Ledger's DeFi Ecosystem: Gold and Silver Tokenization in Q3
Meld Gold, a company operating in the field of physical assets and blockchain technology, has announced a partnership with Ripple to issue two new stablecoins on the XRP Ledger, backed by Gold and Silver respectively. Each token will represent 1g of precious metals held by leading custodial providers MKS Pamp and Imperial Vaults.
Meld Gold said it will offer fungible Gold and Silver assets on XRPL in the third quarter of 2024. As of now, the company maintains the same digital assets on Algorand (ALGO ), another programmable L1.
Michael Cotton, Meld Gold CEO, emphasized the importance of this release for the entire ecosystem of tokenized protocols on XRPL and the entire Web3 sector.
According to Ripple president Monica Long, the company is seeing increasing demand for RWA solutions from B2B (Business-to-Business) customers.
Long added that Ripple is exploring various opportunities to tokenize on XRP.
Meld Gold representatives emphasized that the integration with XRPL will help grow the XRPL DeFi ecosystem, providing the largest-cap and most adopted onchain assets in the world.
By enhancing essential liquidity, new and existing users can take advantage of XRPL's native features, including DEX, AMM, payment system as well as upcoming crypto market and EVM.
Ripple CTO David Schwartz pointed to the tokenized goods sector as a strong catalyst for RWA adoption across the XRP Ledger and dApp ecosystem
