In what is certainly a massive development for the company, Ripple has announced that tokenized gold is coming to the XRP ledger in 2024. Specifically, digital finance company Meld Gold took to X (formerly Twitter) to announce a partnership with Ripple that will see gold-backed stablecoins arrive in Q3 of this year.
Additionally, the partnership will see a silver-backed stablecoin also debut on the platform. Moreover, the company stated that its decision to use the XRP Ledger was made due to the “reliability and stability” that Ripple offers in the tokenization and exchanging of both crypto and real-world assets.
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Gold-Backed Stablecoin Coming to Ripple’s XRP Ledger
As the midpoint of 2024 fast approaches, the finance sector has seemingly been enthralled by two things; gold and crypto. Both the precious metal and Bitcoin, the leading cryptocurrency, have set all-time high marks this year. Moreover, they have established relevance in the greater investment sector.
Now, those two assets are coming together in what could be a massively important partnership. Indeed, Ripple has announced that tokenized gold is coming to the XRP ledger in 2024. Specifically, the tokenized metal is landing on XRPL as a result of a partnership between Ripple and Meld Gold.
The company took to X to announce the collaboration and discuss what investors could expect. Indeed, they revealed that both gold and silver tokens would be arriving on the XRPL in Q3. Furthermore, the launch would combine “the world’s oldest currency with the reliability, utility, and accessibility offered by XRPL.”
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Gold has emerged as a massive player so far this year, with experts predicting a $2,900 target price in 2024. That has been combined with the growing relevance of cryptocurrency, as Ripple has been at the forefront of those discussions.
Although XRP has struggled to find momentum this year, Ripple has continued to showcase its relevance. This latest arrival of tokenized gold is just one example of its growing vitality. The network has also been the leader in cross-border payments as it embraces a world utilizing the monumental potential of digital assets.
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