PAX Gold (PAXG) Review
PAX Gold (PAXG) defi token is an asset-backed token where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. Anyone who owns PAXG has ownership rights to that gold under the custody of Paxos Trust Company. Since PAXG represents physical gold, its value is tied directly to the real-time market value of that physical gold.
PAXG defi token gives customers the benefits of actual physical ownership of specific gold bars with the speed and mobility of a digital asset. Customers are able to have fractional ownership of physical bars. On the Paxos platform, customers can convert their tokens to allocated gold, unallocated gold, or fiat currency (and vice versa) quickly and efficiently, reducing their exposure to settlement risk. PAXG defi token is also available for trading on Paxos’ itBit exchange. PAXG defi token will also be available on other crypto-asset exchanges, wallets, lending platforms, and elsewhere within the crypto ecosystem.
At any time, PAXG holders can look up the serial number, value, and physical characteristics of their vaulted gold just by entering their Ethereum wallet address on the PAXG lookup tool on Paxos.com/paxgold.
At Paxos, we are re-building the infrastructure of finance. We want to make it possible to move any assets anywhere, instantly – and therefore democratize access to a new, global, frictionless economy.
We take a two-pronged approach of establishing regulatory designations that give us access to the current financial infrastructure and developing innovative products. This allows us to operate as a gateway between traditional finance and the digital future.
|PAX Gold Price||$1,879.36 USD|
|Token Name||PAX Gold|
|PAX Gold ROI||23.23%|
|Market Cap||$61,359,669 USD|
|Circulating Supply||32,649 PAXG|
More about PAX Gold (PAXG):
Physical gold on the blockchain has the advantages of representing legal ownership of physical allocated gold but does not have the drawbacks of limited transportability or high storage costs usually associated with it. Instead, it has the divisibility, fungibility and tradability of any digital asset like bitcoin. In other words, the best of physical and digital assets at the same time!
Since its founding in 2012, Paxos defi token has always sought to enable the movement of assets, starting with the launch of the itBit exchange in Singapore. In 2015, the New York State Department of Financial Services granted Paxos a limited-purpose trust charter, thus establishing it as the first company approved and regulated to offer crypto products and services. By seeking the highest forms of regulation and compliance, Paxos has distinguished itself within the blockchain industry and earned the trust of discerning institutional and individual investors.
Paxos has since continued to operate within established regulatory frameworks while creating innovative new products. This includes workstreams in the tokenization of securities, precious metals, and commodities, such as the Paxos defi Standard token, a digital dollar launched in 2018.
Along the way, Paxos has raised over $93M in venture funding, added distinguished luminaries including Sheila Bair and Senator Bill Bradley to the board, and grown to 110 employees in three global offices.
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PAX Gold (PAXG) Scam or Not?
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