PAX Gold (PAXG) is an asset-backed token, in which one token represents a fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. Anyone who owns PAXG has the right to own that gold under the supervision of the Paxos Trust Company. Because PAXG represents physical gold, its value is directly linked to the real-time market value of that physical gold.
PAXG gives customers the benefits of actual ownership of specific gold bars with the speed and mobility of a digital asset. Customers may have partial ownership of the physical bars. On the Paxos platform, customers can convert their tokens into allocated gold, unallocated gold or fiat currency (and vice versa) quickly and efficiently, reducing payment risk. PAXG is also available for trading on Paxos ’itBit exchange. PAXG will also be available on cryptocurrency exchanges, wallets, lending platforms and elsewhere in the cryptocurrency ecosystem.
At any time, PAXG owners can look up the value, serial number and physical characteristics of their vaulted gold just by entering their Ethereum wallet address on the PAXG lookup tool on Paxos.com / Paxgold.
Benefits of PAX Gold
PAX Gold complies with the Paxos mission to allow relocation of any asset, anytime, reliably. With PAX Gold, investors and traders around the world can own and trade real gold like Bitcoin. PAX Gold’s distinct benefits include:
- Able to own and exchange for London Good Delivery gold bar
- Free gold storage in the safest vaults in the world
- Easy access to the gold market with low minimum investment and fractional bar ownership (divided by 18 decimal places)
- A product is regulated to ensure the quality, weight and origin of every ounce of PAX Gold token.
What are the benefits of having physical assets on the blockchain?
Physical gold on the blockchain has the advantage of showing legal ownership of physically allocated gold. Still, there are no drawbacks in the limited transportability or high storage costs that often accompany it. Instead, it has the divisiveness, fungibility, and traditions of any digital asset like bitcoin. In other words, the best of physical and digital assets at the same time.
Features of PAXG
Highly Accessible
Built as ERC-20 tokens on the Ethereum blockchain, PAXG can easily be moved or traded anywhere in the world, 24/7. With a low minimum investment, anyone can now own a fraction of an LBMA-accredited London Good Delivery gold bar.
Trusted
Paxos is a trustee and supervisor company, regulated by the New York State Department of Financial Services. PAXG is also approved and managed by DFS and is fully backed by the allocated gold kept in the safest, leading vaults in the world. A national rating auditor will attest to the provision of appropriate PAXG tokens and hidden gold each month.
Redeemable
PAX Gold is the only gold token that you can redeem for Good delivery bullions recognized by LBMA. For added convenience, smaller amounts can be redeemed through a network of physical gold retailers around the world. Organized customers can also exchange for the unallocated Loco London Gold. Paxos customers can always exchange USD with current gold market price.
Flexible
Easily exchange or exchange PAXG for fiat, material or unallocated gold via the Paxos platform. Trade PAXG with other digital assets on popular cryptocurrency exchanges. Use PAXG wherever ERC-20 tokens are supported.
Low fees
Extremely competitive fee structure for creation and redemption of PAXG tokens (0.03-1% based on volume levels) in Paxos wallets, low on-chain Ethereum transaction fee (0.02%) for storage fee is zero. As with other ERC-20 tokens, the nominal Ethereum gas charge applies to on-chain transactions.
Supported
Our global team provides round-the-clock customer service by phone and email. Get a dedicated account manager with minimum purchase of $ 50K.
What is Paxos (PAX)?
Paxos (PAX) is a stablecoin issued by the Paxos Trust company. PAX is considered to be an intermediary between USD fiat currency and cryptocurrencies. This stablecoin is fully mortgaged in USD at a 1: 1 ratio. Synonymous, 1 PAX = 1 USD, the dollars here are held at FDIC-sponsored banks in the United States.
In addition, the PAX token is compliant with Ethereum’s ERC-20 standard and is regulated and monitored by the New York State Financial Services Department (NYDFS).
Conclusion
PAX Gold (PAXG) is a digital asset. Each token is backed by a good troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults. If you own PAXG, you own the underlying physical gold, held by the Paxos Trust Company.
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