{"id":"pax-gold","title":"PAX Gold (PAXG)","content":"**PAX Gold** is a tokenized asset on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain), where each token represents one troy ounce of physical gold held in secure vaults. It offers [blockchain](https://iq.wiki/wiki/blockchain)-based ownership of gold with the ability to transfer, trade, or redeem the asset. [\\[1\\]](#cite-id-db4m8jp8wjb)\n\n# Overview\n\nPAX Gold (PAXG) is an [ERC-20](https://iq.wiki/wiki/erc-20) token issued by [Paxos Trust Company](https://iq.wiki/wiki/paxos) that represents ownership of physical gold. Each token is backed by one troy ounce of London Good Delivery gold stored in Brinks' vaults. Launched in September 2019, PAXG allows users to digitally trade, transfer, and verify their gold holdings, offering faster settlement than traditional gold markets. The New York State Department of Financial Services fully regulates the token, and monthly audits ensure its token supply matches the physical reserves.\n\nTo modernize gold investment, PAXG was designed to make gold more divisible, tradable, and accessible while maintaining the benefits of physical ownership. [Paxos](https://iq.wiki/wiki/paxos) holds the gold for token holders, who can redeem PAXG for gold bars, [fiat](https://iq.wiki/wiki/fiat-money), or other digital assets. As a [blockchain](https://iq.wiki/wiki/blockchain)-based [stablecoin](https://iq.wiki/wiki/stablecoin) [pegged](https://iq.wiki/wiki/currency-peg) to gold, PAXG has gained support across the [crypto](https://iq.wiki/wiki/cryptocurrency) ecosystem, including a notable $5 million acquisition by [crypto](https://iq.wiki/wiki/cryptocurrency) lender Nexo shortly after launch. [\\[1\\]](#cite-id-db4m8jp8wjb) [\\[5\\]](#cite-id-bteaf7fka0i) [\\[6\\]](#cite-id-n0pzxdwd24)\n$$widget0 [YOUTUBE@VID](https://youtube.com/watch?v=PFOUPXRIwj8)$$\n\n# Features\n\nPAXG (Pax Gold) offers features that make it a flexible and secure digital representation of physical gold. It is fully backed by London Good Delivery gold bars held in secure vaults, and each token corresponds to a specific bar, allowing for verifiable and allocated ownership. Operable on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain), PAXG enables 24/7 global transferability and supports fractional ownership with a minimum investment as low as 0.01 PAXG. The token is regulated by the New York State Department of Financial Services (NYDFS), and [Paxos](https://iq.wiki/wiki/paxos) maintains strict asset segregation to ensure tokens are bankruptcy-remote.\n\nUsers can redeem PAXG for physical gold, unallocated gold, [fiat](https://iq.wiki/wiki/fiat-money) currency, or other digital assets. Retail and institutional investors can convert tokens into gold through [Paxos](https://iq.wiki/wiki/paxos) or affiliated gold retailers. The [smart contract](https://iq.wiki/wiki/smart-contract) is based on the audited [Paxos](https://iq.wiki/wiki/paxos) Standard code, with additional security audits conducted for reliability. PAXG charges no storage fees and offers low creation, redemption, and transaction costs. Its programmable nature and compatibility with [Ethereum](https://iq.wiki/wiki/ethereum) wallets and exchanges allow seamless integration in trading and [DeFi](https://iq.wiki/wiki/defi) applications. [\\[1\\]](#cite-id-db4m8jp8wjb) [\\[6\\]](#cite-id-n0pzxdwd24)\n$$widget0 [YOUTUBE@VID](https://youtube.com/watch?v=d_a9ZYixpUs)$$\n\n# Utility\n\nPAXG is a digital alternative to physical gold, offering utility for investors, traders, and [crypto](https://iq.wiki/wiki/cryptocurrency) users. [Paxos](https://iq.wiki/wiki/paxos) creates and destroys PAXG tokens based on user demand, allowing account holders to convert between PAXG, U.S. dollars, and unallocated gold in a Loco London account. Those over 430 ounces in PAXG can redeem them for a physical gold bar. Holders can also view their gold's serial number and characteristics by entering their [Ethereum](https://iq.wiki/wiki/ethereum) address on the [Paxos](https://iq.wiki/wiki/paxos) website.\n\nThe token is designed for many users, including retail and institutional investors, and supports trading on global [crypto](https://iq.wiki/wiki/cryptocurrency) exchanges, often against assets like [Bitcoin](https://iq.wiki/wiki/bitcoin). PAXG appeals to individuals interested in gold for its scarcity and independence from centralized entities, and its presence on [blockchain](https://iq.wiki/wiki/blockchain) platforms allows seamless integration into digital finance ecosystems. Additionally, PAXG plays a role in lending and borrowing markets, potentially enabling holders to earn interest through [crypto](https://iq.wiki/wiki/cryptocurrency) lending platforms. [\\[1\\]](#cite-id-db4m8jp8wjb) [\\[5\\]](#cite-id-bteaf7fka0i)\n\n# Technology\n\nPAX Gold is an [ERC-20](https://iq.wiki/wiki/erc-20) token built on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain), using a standardized [smart contract](https://iq.wiki/wiki/smart-contract) protocol that defines token attributes, tracks balances, and facilitates transfers. Its integration with [Ethereum](https://iq.wiki/wiki/ethereum) ensures compatibility with existing infrastructure, such as wallets and exchanges, and benefits from [Ethereum’s](https://iq.wiki/wiki/ethereum) security, decentralization, and transparency. PAXG can interact with [decentralized applications](https://iq.wiki/wiki/decentralized-application), automated swap protocols, and other [smart contracts](https://iq.wiki/wiki/smart-contract), allowing seamless utility across [Ethereum](https://iq.wiki/wiki/ethereum)-based financial services.\n\nOwnership of PAXG represents fractional shares of allocated London Good Delivery gold bars, with each token linked to specific gold identified by serial numbers and weights. [Paxos](https://iq.wiki/wiki/paxos) attempts to minimize the number of bars assigned to each user, but holders may own fractions of multiple bars. Token allocations may be updated regularly to reflect transfers, redemptions, or other activity. While PAXG is currently exclusive to [Ethereum](https://iq.wiki/wiki/ethereum), future deployment on other [blockchains](https://iq.wiki/wiki/blockchain) is under consideration if practical benefits arise. [\\[1\\]](#cite-id-db4m8jp8wjb)","summary":"PAX Gold is an Ethereum-based stablecoin issued by Paxos Trust Company in 2019, which is backed by physical gold, providing a digital alternative to traditional...","images":[{"id":"Qmc63ooNT2k4AyVHZbn9ZVwN7qM3qPALzuwBeY3eZ3SJNa","type":"image/jpeg, image/png"}],"categories":[{"id":"cryptocurrencies","title":"Cryptocurrencies"}],"tags":[{"id":"Ethereum"},{"id":"Stablecoins"}],"media":[{"id":"https://www.youtube.com/watch?v=PFOUPXRIwj8","size":0,"name":"PFOUPXRIwj8","source":"YOUTUBE"},{"id":"QmRpRv2WGBh8csr9gqyLuxdqrmXmPBTbESN6aYC4AKf8pU","size":"0.08","name":"pgld.PNG","type":"GALLERY","source":"IPFS_IMG"},{"id":"https://www.youtube.com/watch?v=d_a9ZYixpUs","name":"d_a9ZYixpUs","caption":"","thumbnail":"https://www.youtube.com/watch?v=d_a9ZYixpUs","source":"YOUTUBE"}],"metadata":[{"id":"references","value":"[{\"id\":\"db4m8jp8wjb\",\"description\":\"PAX Gold\",\"timestamp\":1661233474073,\"url\":\"https://www.paxos.com/pax-gold\"},{\"id\":\"d5qfdmg0a4f\",\"url\":\"https://coinmarketcap.com/currencies/pax-gold/\",\"description\":\"buy pax gold\",\"timestamp\":1661233527486},{\"id\":\"6n5o76eprum\",\"url\":\"https://www.coindesk.com/price/pax-gold/\",\"description\":\"Buy Pax gold live\",\"timestamp\":1661233650683},{\"id\":\"310no6kqk0l\",\"url\":\"https://paxos.com/wp-content/uploads/2019/09/PAX-Gold-Whitepaper.pdf\",\"description\":\"Whitepaper\",\"timestamp\":1688565076097},{\"id\":\"bteaf7fka0i\",\"description\":\"What is PAXG? | OSL\",\"timestamp\":1688565220956,\"url\":\"https://www.osl.com/hk-en/academy/article/what-is-paxg-exploring-this-gold-backed-cryptocurrency\"},{\"id\":\"n0pzxdwd24\",\"description\":\"PAXG | Kraken\",\"timestamp\":1688565254910,\"url\":\"https://www.kraken.com/learn/what-is-paxos-gold-paxg\"}]"},{"id":"website","value":"https://paxos.com/paxgold/"},{"id":"facebook_profile","value":"https://www.facebook.com/PaxosGlobal/"},{"id":"twitter_profile","value":"https://twitter.com/paxosglobal"},{"id":"linkedin_profile","value":"https://www.linkedin.com/company/paxos/"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/pax-gold/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/pax-gold"},{"id":"contract_url","value":"https://etherscan.io/token/0x45804880de22913dafe09f4980848ece6ecbaf78"},{"id":"etherscan","value":"https://etherscan.io/token/0x45804880de22913dafe09f4980848ece6ecbaf78"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmQEDWPX9AgVw6QHQUuuUFRZDBfPTA9eyT56xMPzpsyhnu\""},{"id":"commit-message","value":"\"Refactor PAX Gold article content and update title to PAXG\""},{"id":"previous_cid","value":"QmQEDWPX9AgVw6QHQUuuUFRZDBfPTA9eyT56xMPzpsyhnu"}],"events":[{"id":"aySf5jZVBw","date":"2019-09","title":"Date Founded","type":"CREATED","description":"PAX Gold was issued in September 2019 ","link":"https://paxos.com/paxgold/"}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x704E3d9c38E339b15631C1bedd7aCfd476ADB7a6"},"language":"en","version":1,"linkedWikis":{"blockchains":["ethereum"],"founders":["charles-cascarilla","rich-teo"],"speakers":[]}}