Institutions
PAX Gold
PAXG
$2,680.78
$4.45 (0.17%)
Past 1 day
Volume (24H)
$347.4K
Circulating Supply
197.6K
Market Cap
$525.8M
About PAX Gold (PAXG)
PAX Gold (PAXG) is a commodity-backed, gold stablecoin issued by Paxos. Each token is backed by 1 fine troy ounce of gold kept in Brink’s vaults managed by Paxos. PAXG allows for exposure to Gold markets without using an ETF, futures contract, or other derivative product.
PAXG was initially issued in September, 2019 and has seen significant growth in market capitalization and volume as gold prices have fluctuated significantly in 2020. PAXG’s advantages over other gold trading products include abilities such as 1) redemption for physical, allocated gold 2) fractional ownership 3) no holding fees (fees charged upon creation/redemption/transfer) and 4) instant settlement.
These features have helped the market capitalization of PAXG grow to over $50M.
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