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    Cryptocurrencies PAX Gold
    $1755.95 $ 1755.95
    +¥5204,24 0.7% 1D
    1D 1M 1Y ALL
    No data
    Market Cap (USD)
    24H Volume
    Circulating Supply
    272.46K PAXG
    Max Supply
    All Time High

    About PAX Gold (PAXG)

    PAX Gold is a gold-backed digital asset created by Paxos fintech, with each token backed by one ounce of 400-ounce London Good Delivery gold bars and held in Brink’s vaults. Paxos Corporation is under the regulation of the New York State Department of Financial Services and is also approved and regulated by the DFS. It is a compliant trust and custody company.

    Paxos tokenizes gold which is recognized by the London Bullion Market Association (LBMA) as a London standard delivery gold bar. This solves the problem of gold and other precious metals on the chain and is also the main endorsement of its value stability. The digital and programmable nature of smart contracts allows PAX Gold to be easily converted, traded or used in many other ways. Likewise, PAX Gold is helping Paxos redefine financial infrastructure.

    Compared with the holding and storage of traditional precious metals, PAX Gold has many advantages in security and convenience. In its commitment to building transparent and transformative financial solutions, PAXG is an important part, as well as the anchor USDP in USD. Paxos has been providing a variety of post-trade products for the gold and commodity markets, including confirmation and affirmation services.

    How PAXG works

    PAX Gold is an ERC-20 token that runs on the Ethereum blockchain. When users create PAXG on the Paxos platform, the tokens are typically minted and delivered on the same day. Each PAX Gold token is backed by an allocated ounce of gold and can be exchanged for USD at any time at the current gold market price. PAXG can also be converted into fiat, physical or unallocated gold through the Paxos platform.

    In other words, it is stipulated in the smart contract that when a user wants to transfer or trade an allocated gold bar, the PAXG token will, on behalf of the user, take ownership of a specific gold bar in the vault of precious metals’ dealers. Allotted gold can be identified by the unique serial number, purity and weight of each gold bar.

    Now, PAX Gold in the PAX Gold Ecosystem is handled by over 30 vaults, exchanges, wallets, lending platforms, etc., including StoneX, Genesis, GALAXY Digital and other institutions. Users can transfer or trade worldwide.

    However, when PAX Gold tokens are sent from one ERC-20 address to another, it is an on-chain transaction in which the ownership of the tokens is transferred and recorded on the Ethereum chain, and GAS fees and PAXG on-chain transaction fees are, thereby, incurred.

    What is PAXG?

    PAXG is a gold-pegged ERC-20 token whose value is directly linked to the real-time market value of that physical gold, with one token representing one ounce of London Good Delivery gold bars stored in specialized vault facilities. Anyone who owns PAXG owns the gold held by the Paxos Trust Company.

    PAXG offers clients the benefits of gold ownership with the speed and mobility of digital assets. Users have actual gold ownership equal to the value of PAXG. On the Paxos platform, users can quickly and efficiently convert their tokens into allocated gold, unallocated gold, or fiat currency (or vice versa), reducing their exposure to settlement risk. PAXG will also provide exchange and trading services on crypto asset exchanges, wallets, lending platforms and other supported crypto ecosystems.

    The value of PAX Gold is transparent and can be queried on the Paxos platform. This makes holders confident. At any time, PAXG holders can look up the serial number, value and physical characteristics of their vaulted gold by simply entering their Ethereum wallet address on the PAXG finder tool on the Paxos platform.

    PAXG Crypto Wallet

    In addition to placing PAXG in the Gate.io exchange to facilitate trading, PAXG can also be placed in the crypto wallet.
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