Exploring New Horizons: Gold and Silver Tokens on XRPL and Expanding DeFi Opportunities

Meld Gold has announced a partnership with Ripple to launch Gold and Silver tokens on the XRP Ledger (XRPL) in the third quarter of 2024. These tokens will represent 1 gram of gold and silver, respectively, and are fully redeemable for the physical bullion, stored by MKS Pamp and Imperial Vaults. This initiative is expected to bring more gold-backed stablecoins to the XRPL ecosystem.
The collaboration marks a significant step in the tokenization of real-world assets (RWAs) on XRPL, aiming to enhance the DeFi ecosystem by offering liquid, asset-backed tokens. Meld Gold is also planning to introduce a solution in 2025 that bridges alternative physical assets with blockchain technology, further expanding the use of RWAs.
Ripple’s president, Monica Long, has highlighted the growing demand for RWA solutions among their B2B customers and the company’s commitment to exploring various tokenization opportunities on the XRPL. This move is anticipated to facilitate the growth of XRPL’s DeFi ecosystem by introducing widely recognized and high-capacity assets on-chain, thereby attracting new users and enhancing liquidity.
The initiative by Meld Gold and Ripple is seen as a significant contribution to the broader adoption of blockchain for real-world applications, signaling a promising future for the integration of physical assets and digital ownership.