Cardano plans to launch gold-backed stablecoinDecentralized Financial Liquidity Protocol Meld announced its plan to release a stablecoin backed by physical gold on the Cardano blockchain during a cryptocurrency summit hosted by UK financial newspaper City AM.
Co-founder Ken Olling claims that anyone with a smartphone will be able to trade metal through tokenization and fractionation.
“The gold will be stored in a vault, tokenized, and then crushed and divided so that we can sell it,” he said.
Meld has partnered with Nigeria-based telecommunications service provider Tingo Mobile. The deal stipulates that its services, such as lending and betting, will be available to approximately eight million active subscribers, giving Cardano a significant boost to adoption in one of the largest crypto markets.
