PAX Gold (PAXG) is an asset-backed token where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. Anyone who owns PAXG has ownership rights to that gold under the custody of Paxos Trust Company. Since PAXG represents physical gold, its value is tied directly to the real-time market value of that physical gold. Designed as an ERC-20 token, PAX Gold has the flexibility and availability of crypto assets, while at the same time representing physical gold - no storage fees. PAXG gives customers the benefits of actual physical ownership of specific gold bars with the speed and mobility of a digital asset. Customers are able to have fractional ownership of physical bars. On the Paxos platform, customers can convert their tokens to allocated gold, unallocated gold, or fiat currency (and vice versa) quickly and efficiently, reducing their exposure to settlement risk. The cryptocurrency was created in 2019. Charles Cascarilla is the founder and chief executive officer of both Paxos Standard and Pax Gold.
What is PAX Gold?
Buy PAX Gold with Apple Pay or credit card
Send & Receive PAX Gold
Exchange crypto to other tokens or coins
Users can easily and quickly create their own portfolio without the risk of price fluctuations during exchange.
Instant exchange with a fixed rate is a guarantee of receiving the exact amount of cryptocurrency without hidden fees.
Private keys are under client control, they are never sent or stored outside your device.
Non-custodial wallet with no registration or KYC required can be accessed on iOS, Android and Web. User is the only owner of the private key.