Issued by Paxos, PAX Gold (PAXG) is a gold-backed crypto to give investors of all class access to the commodity, gold.
Paxos has received a license from Singapore’s MAS, and can now offer PAX Gold and other cryptos in the country.
Paxos has also outlined its recommendations for how stablecoins can be safely issued globally.
PAXG has been more stable than most cryptos, while slowly trending upwards, gaining 9.7% in the last three months.
Project Review
PAX Gold (PAXG) is a gold-backed ERC-20 token, launched by Paxos, the creators of the Paxos Dollar stablecoin and itBit crypto exchange, and the sole issuers of the BSUD stablecoin.
Paxos launched PAX Gold in September 2019 to make gold more tradable, since the physical commodity is not as easily accessible, divisible, or flexible in terms of transportation. PAXG is entirely backed by a piece of London Good Delivery gold bar.
PAXG is pegged to the price of gold and the gold bars held by Paxos are stored in the vaults o
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