What is Pax Gold (PAXG)?
Pax Gold (PAXG) is a regulated digital asset that represents one fine troy ounce of London Good Delivery gold, securely stored in professional vault facilities. Launched by Paxos in 2019, PAXG combines the security and reliability of physical gold with the flexibility and accessibility of digital assets. Each PAXG token gives holders ownership of physical gold, ensuring that its value is directly tied to the real-time market value of gold.
PAXG is built as an ERC-20 token on the Ethereum blockchain, making it easy to integrate with exchanges, wallets, lending platforms, and other crypto products. The token allows for fractional ownership, with each token divisible to 18 decimal places, enabling broader access and utility. Unlike traditional gold investments that come with storage fees, PAXG holders benefit from free storage in some of the world's most secure vaults and can easily trade their tokens 24/7.
Pax Gold is fully regulated by the New York State Department of Financial Services (NYDFS), and Paxos provides monthly attestations from independent auditing firms to ensure that the supply of PAXG tokens is consistent with the gold held in custody. This regulatory oversight ensures the quality, weight, and provenance of the gold backing PAXG tokens, providing confidence and security to investors.