What is PAX Gold?
PAX Gold (PAXG) is a digital asset backed by one troy ounce of a 400 oz London Good Delivery gold bar, stored in professional vault facilities.
It is issued by the Paxos Trust Company, a regulated financial institution that operates under the supervision of the New York State Department of Financial Services. PAX Gold is an Ethereum-based token that allows users to own and trade physical gold on the blockchain. Each PAXG token represents one troy ounce of a 400 oz London Good Delivery gold bar stored in professional vault facilities.
The gold bars are insured and audited on a regular basis to ensure that they are held securely and that their value is accurately reflected in the PAXG tokens. The PAX Gold project was created to make it easier for people to buy, sell, and store physical gold without having to worry about its security or storage costs. By using blockchain technology, PAX Gold allows users to access their gold holdings from anywhere in the world with an internet connection.
Additionally, PAX Gold offers users greater liquidity than traditional gold investments since it can be traded on cryptocurrency exchanges 24/7.
