Ripple announced on Monday that the XRP ledger will be able to store tokenized gold in 2024. This is a major development for Ripple. It is digital finance firm Meld Gold took to X (formerly Twitter) Ripple has announced a partnership that will result in gold-backed stablecoins arriving during Q3 of the year.
A silver-backed, stablecoin will also be launched on the platform as part of the partnership. Moreover, it stated that the decision was taken to use the XRP Ledger due to its reliability. “reliability and stability” Ripple is a platform that allows the exchange of real and crypto assets.
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Ripple Ledger XRP to Get Gold-Backed Stablecoin
Gold and crypto have been the focus of finance as 2024’s midpoint approaches. The precious metal, as well as Bitcoin, the most popular cryptocurrency, reached all-time records this year. They have also established their relevance within the broader investment industry.
This could lead to a hugely significant partnership. Ripple announced in fact that tokenized metal will be coming to the XRP blockchain by 2024. The tokenized metal will be available on XRPL due to a partnership formed between Ripple, Meld Gold and XRPL.
The company announced their collaboration on X, and discussed what investors should expect. They revealed that the XRPL would launch both silver and gold tokens in Q3. The launch will also combine “the world’s oldest currency with the reliability, utility, and accessibility offered by XRPL.”
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So far in 2018, gold has been a major player. Analysts have predicted a price target of $2900 by 2024. Ripple, which has been at forefront of these discussions in recent years, has also been a major player.
Ripple continues to demonstrate its relevance, despite XRP’s struggles to grow this year. The latest tokenized gold release is just another example of the network’s growing strength. It has been a leader in international payments, embracing a digital world that embraces the enormous potential of digital assets.
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Source: watcher.guru
