Decentralized finance liquidity protocol Meld has announced its plan to issue a stablecoin backed by physical gold on the Cardano blockchain during a cryptocurrency-focused summit held by British financial newspaper City AM.
Co-founder Ken Olling claims that anyone with a smartphone will be able to trade the lustrous metal because of tokenization and fractionalization:
Gold will be stored in a vault, tokenized and then fractionalised and divided so we can sell it.
Meld has secured a partnership with Nigeria-based telecommunications services provider Tingo Mobile. The deal stipulates that its services, such as lending and staking, will be available to roughly eight million active subscribers, which will give Cardano a significant adoption push in one of the biggest crypto markets.
