Meld Gold is changing the way gold operates in the digital age. The company is using the XRP Ledger to build a platform that enhances the accessibility, utility, and efficiency of gold for both investors and industry players.
In conjunction with XRP, Meld Gold makes transactions in the gold supply chain faster and safer internationally. It is aimed at the gold industry, covering every aspect from mining to trading, which facilitates the gold being more efficient and stable. XRP Ledger’s fast payment network is globally adopted, making settlements and transactions more fluid.
Why XRP Ledger is the ideal foundation
Michael Cotton, Meld Gold’s founder, explains that gold and silver offer a stable alternative to fiat currencies. He sees XRP Ledger as the ideal foundation to back these precious metals with digital certificates.
Each digital certificate represents one gram of gold, silver, platinum, or palladium. This innovation allows investors to hold physical commodities in a digital form. Fractional ownership improves market efficiency, and real-time trading reduces market volatility.
Meld Gold’s custom audit system ensures full transparency of metal holdings, with a manual system that will soon be upgraded for more visibility. The company also uses a custom balance system to keep digital tokens in line with physical metal reserves, maintaining a secure link between the two assets.
Benefits for stakeholders across the ecosystem
All stakeholders benefitted from the integration with the XRP Ledger. Scrap customers enjoy better pricing and liquidity, while bullion dealers can hedge risks through real-time trading. Deeper market liquidity facilitates exchanges, and financial advisors can offer more diverse services.
Meld is more a revolution in gold rather than an upgrade. Meld Gold brings this stability of the yellow metal into the flexibility of blockchain, therefore building up to the future in digital assets.
