PAX Gold (PAXG) is a crypto asset, and each token represents one Troy ounce of 400 ounces of standard delivery Gold bars held in the Brink Professional Vault. All holders of PAX Gold enjoy direct ownership of their corresponding Gold under the Trust of Paxos Trust Company. As a result, the value of PAX Gold tracks the real-time market price of Gold.
PAX Gold (PAXG) is a digital asset published by Paxos. Ethereum ERC-20 is a gold-backed digital currency issued under the Ethereum ERC-20 protocol. Paxos has a background in multiple asset-backed token offerings or regulatory services -- such as staboin Paxos Standard (PAX) and HUSD, where Paxos is responsible for the custody, issuance and other related matters of PAXG. PAX Gold is a gold-backed token regulated by the New York State Department of Financial Services (NYSDFS). It's also the government agency that oversees Paxos.
PAX Gold customers not only have the physical Gold anchored behind them, but can also enjoy the speed and liquidity of digital assets. Customers can own some of the highest quality physical gold. On the Paxos website, customers can quickly and efficiently convert their tokens into registered gold, bearer gold, or fiat currency (and vice versa), reducing delivery risk.
PAXG holders can query the serial number, value, and other physical characteristics of the gold behind their encrypted gold PAXG at PaxGold using their Ethereum wallet address anytime, anywhere.
Each PAXG token represents 1 Troy ounce of physical gold on a particular serialized gold bar. If the customer has enough PAXG to represent the entire bar, they can exchange those tokens for a single bar. Ownership, on the other hand, can be divided into up to 18 decimal places, allowing customers to own very small amounts of high-quality gold for the first time.