Meld Gold, a digital platform that allows investors to buy and sell gold in digital form, has confirmed its first transaction on the mainnet, marking a significant milestone in tokenization of gold and silver on Ripple’s XRP Ledger (XRPL). The transaction took place on September 29, 2024, and is a part of a broader rollout planned throughout October. This development positions Meld Gold as a pioneer in integrating gold and silver with blockchain technology. This will enhance the asset’s utility and accessibility.
💥💥Meld Gold confirms first transaction on mainnet went through on 9/29 regarding the tokenization of gold on XRPL with more to roll out through October🥳🥳💥💥#XRPCommunity #XRPArmy#XRPL https://t.co/WqKVJniCvC pic.twitter.com/vH23atJXsf
— Stephanie Starr (@StephanieStarrC) October 1, 2024
Meld Gold aims to support the entire gold supply chain, providing a secure and stable platform for investors and industry partners. By tokenizing gold, Meld Gold enables easier trading and investment, appealing to both traditional investors and those in the cryptocurrency space.
The excitement surrounding Meld Gold’s launch comes amid a growing interest in digital assets and their applications in various sectors. As cryptocurrencies gain traction, tokenized assets like gold and silver can offer a hedge against market volatility while providing liquidity through blockchain technology.
What are the benefits of the partnership with Ripple for Meld Gold?
The partnership between Meld Gold and Ripple offers several significant benefits, particularly in the realm of tokenizing gold and silver on the XRP Ledger (XRPL):
- Integration of Real-World Assets: This integration allows for seamless trading and management of these precious metals and digital assets.
- Enhanced Security and Scalability: This partnership between Meld Gold and Ripple provides secure and scalable financial services which is crucial for handling tokenized commodities.
- Fungible Gold and Silver Tokens: Each token will represent 1 gram of gold or silver, fully backed by reputable custodians like MKS Pamp and Imperial Vaults. This structure enhances trust and accountability, attracting investors.
- Expansion of DeFi ecosystem: This partnership will enrich XRPL’s DeFi ecosystem by introducing tokenized versions of globally recognized assets, attracting a broader range of users to the platform.
- Increased Liquidity: By tokenizing gold and silver, Meld Gold aims to amplify liquidity in the market for these traditionally illiquid assets.
- Market Demand for RWA Solutions: The collaboration aligns with Ripple’s recognition of rising demand for RWA solutions among its clients.
Overall, this partnership not only strengthens Meld Gold’s position in the market but also enhances the functionality and appeal of the XRPL as platform for tokenization real-world assets.
Also Read: XRP Price Dips as SEC Left With One Week to Appeal in Ripple Case
Source: https://www.cryptonewsz.com/ripple-joins-meld-gold-launch-tokenized-gold/