Two new stablecoins backed by Gold & Silver on XRP Ledger coming
Bull sentiments around XRP Cryptocurrency surged rapidly, as the news of two new stablecoins launching on XRPL came to the public domain.
XRP Ledger (XRPL) is a decentralised blockchain platform enabling fast, low-cost international transactions. XRP is its native cryptocurrency. Ripple is a company that uses XRPL to provide cross-border payment solutions for financial institutions, aiming to improve speed and reduce costs compared to traditional methods like SWIFT.
Recently Tokenization innovators Meld Gold established a partnership with Ripple.
Under this partnership, Meld Gold will launch two new stablecoins on the XRPL blockchain network and both stablecoins will be backed by the value of Silver & Gold.
According to Meld Gold, the XRP Ledger (XRPL) is a highly reliable and stable layer 1 blockchain platform. It’s recognized for its capabilities in tokenizing and exchanging both cryptocurrency and real-world assets. The XRPL provides institutional-grade functionality, ensuring secure, efficient, and scalable financial services and various use cases, making it suitable for large-scale and professional financial operations.
There is a huge chance that Meld Gold will start offering gold and silver-backed stablecoin assets on the XRP Ledger (XRPL) in the third quarter of 2024. Currently, the company offers similar assets on Algorand (ALGO), another Layer-1 blockchain platform.
Michael Cotton, the CEO of Meld Gold, shared his happiness about this partnership & new initiative toward the digital world of tokenization and said that their team, made up of industry experts, has extensive experience in all parts of the supply chain, including origination, certification, logistics, storage, and insurance.
The CEO also stated that his company is passionate about innovating and advancing digital ownership, which makes them well-suited for the upcoming revolution in real-world assets (RWA).
He also emphasises that only experts in the industry can design the systems needed to integrate the physical world into the blockchain.
Recently Ripple’s president Monica Long talked about the surging demand for Ripple’s XRPL ledger. Long noted that the company is witnessing an increased demand for real-world assets (RWA) solutions from its B2B customers.
XRP coin price action
The current trade price of XRP coin is $0.49 & this trade price is 17% down over the last 3 months period. Seems XRP trade price remained unfazed following this news.
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