Crypto news: a gold-backed stablecoin is coming on Ripple’s XRP Ledger

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Among today’s crypto news, the announcement of Meld Gold, a digital finance company, cannot be missed. They have formed a new partnership with Ripple to launch the gold-backed stablecoin on the XRP Ledger (XRPL). 

Crypto news: the stablecoin pegged to gold on Ripple’s XRPL will be launched in Q3 2024

Meld Gold, digital finance company, has announced that it has chosen Ripple’s XRP Ledger to develop and launch the new gold-backed stablecoin. 

“The time has come, @meldgold is coming to XRP Ledger (#XRPL)! Learn more about this pioneering step to launch physical #RWA on #XRPL. #XRPLedger #BuiltOnXRPL. Why XRPL? As a decentralized level 1 blockchain known for reliability and stability in the tokenization and exchange of crypto-native and real-world assets, XRP Ledger offers institutional-level functionalities and built-in features to enable secure, efficient, and scalable financial services and use cases.”

In practice, we are in the category of Real World Asset (RWA), which is the market that uses blockchain to tokenize tangible assets that exist outside the digital scenario. 

The company Meld Gold would therefore have chosen Ripple’s XRP Ledger to tokenize gold and silver. This decision was made thanks to the “reliability and stability” that Ripple offers in the tokenization and exchange of crypto and real assets.

Not only that, the announcement states that the new gold-backed stablecoin will be launched in the third quarter of this year.

Crypto news: the new Oro and Argento tokens developed on Ripple’s XRP Ledger

Moving forward with his announcement tweet, Meld Gold then included the debut of a stablecoin also developed on Ripple’s XRP Ledger, but anchored to silver. 

“What will Meld Gold launch? The Gold and Silver tokens will be available on #XRPL in the third quarter, combining the world’s oldest currency with the reliability, utility, and accessibility offered by XRPL. The Meld Gold team will continue to lead physical RWA innovation in a multi-chain future!”

Here, therefore, both the Oro token and the Argento token on Ripple’s XRPL will be launched in Q3 2024. 

In this regard, then, the tweet includes the comment from the CEO of Meld Gold, Michael Cotton, who also mentions the Algorand blockchain: 

“Integration of XRPL as the second blockchain alongside @algorand @algorandfoundation is another step towards providing unparalleled access to assets like #Gold and #Silver with industry-leading technologies.” 

The positive forecasts for XRP ETFs

Recently, Ripple has been making headlines in the ETF sector as well. Specifically, Ripple’s CEO, Brad Garlinghouse, made some positive predictions regarding the launch of spot XRP ETFs. 

According to Garlinghouse, the approval of new ETFs on XRP in the USA will become inevitable, even if it will be necessary to wait at least until 2025. 

Along with the ETFs on XRP, many are also commenting on the spot ETFs on Solana. In fact, some rumors claim that the world’s largest asset manager, BlackRock, could already request an ETF on Solana next month. 

In any case, at the time of writing, XRP is worth $0.48, falling below $0.50 just last week. The current price is still very far from the annual high of $0.71 reached in March 2024.