Ripple had entered the metals market earlier this year. It launched a gateway known as eMetals, which helps users trade physical metals.
Investors can trade in digital assets including silver, gold, palladium, and rhodium. Ripple’s technology allows the transformation of the crucial properties of speed, accessibility, security, transparency, and trust. Ripple has partnered up BPG group for the trade of eMetals.
The company explains how the system works:
“Combining the performance of the London clearing system, managed by London Precious Metal Clearing Limited, with the transparency of an exchange-traded asset.”
BPG group is well-established and is known for its refining operations. Moreover, its involved in recycling, management, and trading.
When will Ripple overtake gold?
Many people have been speculating that that Ripple can overtake the gold market. J C Collins, a philosopher in metrics writer argues that XRP will lead cryptocurrencies by next year, and he explains that the rise of digital currencies has opened up a new asset class that also encompasses stocks and bonds in the future. They will be liquidated with and traded through the blockchain and global liquidity.
Gold is one of the most popular metals in the world. It is an important asset in every investor’s portfolio as it provides diversifies risk. Gold is also one of the most stable assets present in the global market and this had made it a safe haven for investors. It also has relatively low volatility in comparison to other assets like real estate and company shares.
XRPhodor says XRP has a better chance than Bitcoin. This is because of the rising liquidity of XRP. He also believes that the daily volume of Ripple is similar to that of BTC. XRP accomplishes all it sets out to do and also has been able to achieve its functionality in a relatively short period of time.