• Meld Gold and Ripple completed their first on-chain asset transaction on the XRP Ledger in September 2024.  
  • The partnership enhances institutional access to secure and scalable DeFi services on the XRP Ledger.  
  • Future upgrades include a patent-pending system to link physical items like gold to the blockchain for increased efficiency.  

Meld Gold and Ripple finalized their first on-chain transaction of fungible gold and silver assets on the XRP Ledger (XRPL). This significant step marks the beginning of their ongoing collaboration. 

🚨 JUST IN: MELD GOLD CONFIRMS TOKENIZED GOLD ON $XRP LEDGER—

“First transaction went through yesterday and a further rollout will happen through October.” — @meldgold 🙌

Meld Gold will release two new stablecoins on XRP Ledger, backed by Gold & Silver. Each token will… https://t.co/HmYs3tsVnM pic.twitter.com/wAUgCaXnMM

— Good Morning Crypto (@AbsGMCrypto) October 1, 2024

The partnership, announced in June , aims to enhance access, efficiency, and utility for Real-World Assets (RWAs). By integrating precious metals onto the XRPL , the companies are reshaping how institutional users access these assets in the decentralized finance (DeFi) space.

Ripple Focus on Institutional Users and Security

The partnership between Meld Gold and Ripple aims to offer safe and expandable financial solutions. XRPL’s inherent features like Decentralized Exchange (DEX) and Automated Market Maker (AMM) are anticipated to provide advantages for institutional users. These tools enable smooth and effective asset trading, improving the overall DeFi ecosystem.

Meld Gold ‘s infrastructure for transitioning assets on-chain has been years in the making. The first successful transaction is seen as a major milestone. Consequently, the companies have outlined plans to roll out more advanced features in the coming months. 

Future Upgrades and Innovations

Looking ahead, the collaboration will introduce upgrades, including the implementation of a patent-pending system. This system minimizes trust in connecting physical items, such as gold and silver, to the blockchain. 

Read CRYPTONEWSLAND on google news

By merging Ripple’s technology with Meld Gold’s knowledge in precious metals, the platform will offer users improved financial solutions that are both dependable and efficient.

Moreover, Ripple is getting closer to releasing its RLUSD stablecoin on the XRPL. Reports indicate that 99% of its entire supply has been created. This enhancement brings an additional level of usefulness and practicality to the XRPL, strengthening its presence in the DeFi sector.

Meld Gold and Ripple have successfully completed the initial transaction and are now ready to transform the management and trading of real-world assets on the blockchain. Future improvements will offer more secure, scalable, and efficient services for both institutional and individual users.

disclaimer read more

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.