About PAX Gold (PAXG)
What Is PAX Gold (PAXG)?
PAX Gold is an Ethereum token issued by Paxos. Each PAXG represents one fine troy ounce of allocated gold held in London Bullion Market Association vaults. Paxos links tokens to specific gold bars and publishes reserve information.
How Does PAX Gold Work and What Is PAXG Used For?
PAXG is minted when eligible customers buy allocated gold through Paxos and burned when tokens are redeemed. Supply therefore follows the gold held for token owners. PAXG can be transferred in small fractions, traded, or used in compatible DeFi services. Physical bar redemption has account, size, fee, delivery, and compliance requirements.
PAX Gold Security, Custody and Risks
PAXG depends on Paxos, custodians, vaults, legal ownership records, Ethereum, and the token contract. Risks include issuer restrictions, custody or regulatory events, smart-contract bugs, market spreads, and differences between token price and spot gold.
Frequently Asked Questions About PAX Gold
Is PAXG backed by gold?
Paxos states each token is backed by one fine troy ounce of allocated gold.
Can PAXG be redeemed?
Eligible customers can redeem under Paxos terms.
Does PAXG pay gold yield?
No automatic yield is built into the token.
Sources and Verification
Official sources
- PAX Gold Active
- PAXG terms Active