Stablecoins, Asset-backed Tokens, Tokenized Gold, Harmony Ecosystem, Ethereum Ecosystem
About PAX Gold
PAX Gold (PAXG) is a digital asset backed by physical gold.
It is an Ethereum-based token that is fully collateralized by one troy ounce of London Good Delivery gold stored in professional vaulting facilities. PAX Gold is issued by the Paxos Trust Company, a regulated financial institution that provides digital asset services to customers around the world. The goal of PAX Gold is to make it easier for investors to buy, sell, and store gold securely.
By tokenizing gold, investors can purchase fractional amounts of gold and trade it on exchanges or store it in their own wallets. The token also makes it easier for investors to move their gold around without having to worry about shipping or storage costs. PAX Gold also offers investors the ability to access the liquidity of digital assets while still maintaining exposure to the stability of physical gold.
PAX Gold tokens are ERC-20 compliant and are fully backed by physical gold stored in secure vaults located in London, New York, Singapore, and Toronto. Each PAX Gold token represents one troy ounce of London Good Delivery gold held in custody by Paxos Trust Company. The tokens are audited monthly by an independent third-party auditor and are redeemable for physical gold at any time.
In addition to providing a secure way to store and trade physical gold, PAX Gold also offers users a range of other benefits such as low fees, fast settlement times, and access to global markets 24/7. The platform also provides users with detailed transaction history and real-time price updates so they can stay informed about their investments at all times.