- Meld Gold chose XRP Ledger for its robust payment and transaction features, allowing the company to convert physical gold into digital certificates.
- The platform also benefits various stakeholders. Scrap metal customers, bullion traders, stock exchanges and financial advisors find what they are looking for here. XRP Ledger offers them competitive prices and real-time trading.
Meld Gold is attempting to revolutionize the gold market using blockchain technology by choosing the XRP Ledger as the core of this initiative. The firm seeks to make gold more convenient and efficient for businesses and customers. Meld Gold's platform covers the entire gold supply chain.
Additionally, the company also strives to create a safe and stable process through which interested investors and companies can participate in the business. Effective integration with the existing gold market constitutes the main advantage that Meld Gold brings in terms of quality of transactions and speed of settlements. This vision will be strengthened by the establishment of a global infrastructure for payments linked to gold transactions through the XRP ledger.
Additionally, the XRP Ledger recently activated the Price Oracle Amendment while significantly strengthening its decentralized finance (DeFi) capabilities, CNF reported.
Why Meld Gold chose the XRP Ledger?
Meld Gold chose the XRP Ledger because of its payment and transaction solutions. According to Michael Cotton, the founder of Meld Gold, the purpose of holding precious metals such as gold and silver was to serve as a substitute for fiat currency. At the same time, it would justify the value of holding these assets. Last month, Melg Gold introduced gold and silver-backed stablecoins on the XRP Ledger, CNF reported.
He noted: “If you plan to make global payments, have savings and make payments with those savings, gold is well placed as an alternative asset. » Mr. Cotton added that the structure of the XRP Ledger is tailored to decentralized institutional finance (DeFi), which Meld Gold sees as essential to gold's role in global payments.
Additionally, Meld Gold converts physical metals, such as gold, into digital certificates. Each certificate represents one gram of metal. Meld Gold therefore uses the XRP ledger where investors can hold their digital certificates, thus owning physical assets in digital form. This helps improve market efficiency through fractional trading and rapid settlements.
Additionally, Meld Gold uses a patent-pending auditing system that ensures security, although it operates manually to date. However, it will be enhanced to provide full transparency of metal stocks throughout the supply chain. The company uses a self-developed balance system to hold physical metals to back its digital tokens. This simply means that for every digital asset, there is its physical equivalent in order to maintain a stable balance.
By allying with the gold supply chain, Meld Gold provides liquidity and better pricing to its customers. Using the XRP Ledger allows for real-time trading that mitigates risks associated with market movements. This adds benefits to various stakeholders, namely scrap customers, traders and bullion dealers, who ultimately get fair and competitive prices.
Solutions for different market players
Meld Gold addresses different stakeholders such as:
- Scrap metal and trade customers: It provides better pricing and transparent analysis results.
- Bullion traders: Reduced market risk with real-time trading options.
- Scholarships: This provides better trading facilities and facilitates visibility for clients.
- Financial advisors: This allows diversification of services through access to multiple valuable metals.
With XRP Ledger, Meld Gold also aims to increase the efficiency, transparency and depth of the gold market.
