About PAX Gold (PAXG)
Initiated in September 2019 by the creators of Paxos Standard, PAX Gold (PAXG) represents a digital asset blending the physical gold and cryptocurrency sectors. It provides a digital entitlement to one fine troy ounce of a 400 oz London Good Delivery gold bar, safely stored in Brinkās vaults. This digital asset ensures each PAXG token is supported by physical gold, enhancing its real-world relevance.
Functioning as an ERC-20 token on the Ethereum blockchain, PAX Gold facilitates trading on a multitude of exchanges, thereby democratizing access to gold. It allows for investments in small, divisible amounts, thereby rendering gold investment both accessible and flexible. Significantly, owners of PAXG are afforded the option to redeem their tokens for the equivalent value in USD or, for those holding more than 430 PAXG, in physical gold bars directly through Paxos. This feature aims to distinguish PAX Gold from many digital assets that are either backed by fiat currencies or purely speculative, as it directly pegs each token to physical gold. This amalgamation of blockchain's liquidity and security with gold's intrinsic value and stability adeptly addresses common investment challenges such as divisibility, transport, and storage.
PAX Gold's structure suits various uses, from offering a secure investment route to enabling easy transferability and redemption options in either physical gold or USD. It caters to experienced investors and commodities market novices alike, illustrating the value of merging traditional finance with the volatile crypto market.Ā The PAXG token offers a unique utility by providing investors with a blockchain-based, easily transferable digital asset that represents ownership of physical gold.
The live price of PAXG is updated and can be tracked in real time on Binance.