PAXG PAX Gold Rank #43 $4,073.48 ▲ 0.66%

PAX Gold (PAXG) is an asset-backed digital token issued on the Ethereum blockchain, with each token representing one fine troy ounce of a London Good Delivery gold bar held in professional vault facilities under the custody of Paxos Trust Company. By tokenizing physical gold, PAXG allows holders to gain direct ownership rights to the underlying bullion while benefiting from the speed, mobility, and divisibility of a blockchain-based asset. This structure enables fractional ownership of individual gold bars, which would otherwise be impractical in traditional precious metals markets. Beyond simple ownership, the token is designed for flexible conversion. Holders can redeem or acquire PAXG for allocated gold, unallocated gold, or fiat currency through the Paxos platform, supporting efficient settlement and reducing counterparty risk. PAXG is also tradable on Paxos' itBit exchange and accessible across a broader range of crypto-asset exchanges, wallets, and lending platforms. Holders can independently verify the serial number, valuation, and physical characteristics of the gold backing their tokens via a public lookup tool using their Ethereum wallet address. As a tokenized commodity within the real-world assets and Ethereum ecosystems, PAXG functions as a bridge between traditional gold markets and on-chain finance.