Paxos, a blockchain asset and crypto service company, has now introduced and launched PAX Gold (PAXG), a regulated crypto-asset redeemable for physical gold.
PAXG is an asset-backed digital token, each representing one fine troy ounce of investment-grade gold; London Good Delivery gold bars stored in Brink’s vaults in London.
Customers own the underlying physical gold, while benefiting from the speed and mobility of a digital asset. As an ERC-20 token, PAX Gold can be integrated into crypto wallets, exchanges, and lending platforms.
The first customers to buy PAX Gold are eligible to receive an exclusive 2% rebate in USD. PAX Gold will also be available on Paxos-owned itBit exchange with zero fees for the first 30 days.