Meld Gold Partners with Ripple for Gold-Backed Stablecoin Launch on XRPL

In the latest developments within the cryptocurrency sphere, Meld Gold, a prominent digital finance company, has announced its collaboration with Ripple to introduce a gold-backed stablecoin, utilizing the XRP Ledger (XRPL). Slated for launch in the third quarter of 2024, this stablecoin represents a significant milestone in the integration of real-world assets (RWA) with blockchain technology, specifically targeting the tokenization of gold and silver.
Meld Gold highlighted the XRPL’s decentralized nature, reliability, and stability in handling both crypto-native and tangible assets as key factors in their decision. This initiative is set to pave the way for the tokenization of physical assets, providing a secure, efficient, and scalable framework for financial services and use cases.
In addition to the gold-backed stablecoin, Meld Gold is also set to introduce tokens pegged to silver, named Oro and Argento, within the same timeline. These developments underscore Meld Gold’s commitment to leading innovation in the physical RWA space, aiming to combine traditional currencies with the advantages offered by blockchain technology.
Furthermore, Ripple’s ventures into the ETF market have also been making headlines, with CEO Brad Garlinghouse expressing optimism about the future approval of spot XRP ETFs in the USA, anticipated by at least 2025. This optimism extends to the broader crypto ETF market, with speculation about potential ETFs on Solana following suit.
As of now, XRP’s market value stands at $0.48, a slight decrease from its annual peak of $0.71 in March 2024, illustrating the dynamic and ever-evolving nature of the cryptocurrency market.