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Ripple and Meld Gold are pioneering partners of RWA integration on XRPL
- Ripple and Meld Gold join forces to introduce Real World Assets (RWA) on the XRP Ledger (XRPL) to enable use cases that are secure, efficient, and benefit builders and businesses.
- The integration would also provide greater transparency in the third quarter through accountability for metals and their location.
A strategic collaboration between Ripple and Meld Gold would see Real-World Assets (RWA) integrated. XRP Ledger (XRPL) along with offering greater access, utility and efficiency through the provision of institutional-grade functionality and integrated features. According to official releasethis would enable secure, efficient and scalable financial services and use cases.
In addition to this, the collaboration will allow companies and developers to take advantage of XRPL opportunities while offering utility to users looking for better ways to own and interact with RWAs.
Fungible gold due for delivery in the third quarter
The release reviewed by the CNF team reveals that the initial integration of Meld Gold would ensure the delivery of fungible gold in addition to silver assets on XRPL in the third quarter of this year (Q3 2024). Interestingly, each token would adequately represent 1g of the corresponding precious metal owned by industry giants such as MKS Pamp and Imperial Vaults.
Beyond this, Meld Gold would provide the necessary infrastructure to introduce a range of assets onto the chain through close collaboration with the precious metals and alternative physical assets industries.
After all this, it would ensure greater transparency within the quarter through accountability for the metals held and their location. Meld Gold will undertake a series of upgrades including the “first implementation of patent-pending work on minimized trust systems for connecting physical objects to the blockchain.”
Gold funds and #Ripple are collaborating to tokenize real-world assets on #XRP Ledger, bringing ancient currencies into the future of finance. Fungible gold and silver assets will be introduced in the third quarter, with each token representing 1g of precious metals held by industry leaders such as… pic.twitter.com/AeXol9BvrB— Collin Brown (@CollinBrownXRP) June 8, 2024
Read more about the collaboration between Meld Gold and Ripple
According to Michael Cotton, CEO of Meld Gold, RWA’s upcoming revolution would fit perfectly with their passion to revolutionize and advance digital ownership.
Our team of industry experts has deep expertise in every component of the supply chain, from sourcing, certification and logistics, to warehousing and insurance. Our passion for revolutionizing and advancing digital ownership is ideal for the next RWA revolution. This is the industry, providing the systems that only they could design, to bring the physical world on chain.
Over the years, blockchain technology has been leveraged for benefits including instant global accessibility, simple and secure ownership accountability, and standardized data binary for interoperability and speed. For XRPL, it has always existed as a layer-1 decentralized blockchain known for its long-standing reliability and stability in tokenization and trading of native crypto and RWA. It is powered by XRP and was designed to support businesses and builders. Having fulfilled this mandate perfectly, it enjoys the trust of over 1,000 visionary builders and companies around the world.
According to experts, the integration of Meld Gold and XRPL would accelerate the growth of the XRPL DeFi ecosystem and provide the most accepted large-cap on-chain assets in the world. New and existing users can equally benefit from XRPL’s native features which include DEX, AMM, payment systems and upcoming EVM and money market side.
In the blockchain ecosystem, how assets are connected to the blockchain and how they are accurately accounted for have been major components often overlooked. Meanwhile, precious metals always require trust, but this is often reduced to the required level.
This exciting development is expected to have a positive impact on the price of XRP which had lost 0.4% of its value in the last 24 hours to trade at $0.49.