{"id":"pax-gold","hidden":false,"ipfs":"QmdUC3UbGzR7f5ET5eD1fYuJsTgeW8TA48ZH2iULzqY3bi","language":"en","transactionHash":"0xda17f9ea86edfa0f7f3d2f301f1b6145aa8bf12d8385a4447665a2254b762948","created":"2022-08-23T06:50:02.634Z","updated":"2026-09-03T12:02:43.275Z","title":"PAX Gold (PAXG)","summary":"PAX Gold (PAXG) is a tokenized gold asset issued by Paxos, where each token represents one fine troy ounce of London Good Delivery gold held in LBMA-accredited vaults and redeemable 1:1 for physical gold under U.S. federal oversight.","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 London Good Delivery bars stored in LBMA-accredited vaults. It offers [blockchain](https://iq.wiki/wiki/blockchain)-based ownership of gold with the ability to transfer, trade, or redeem the asset, and is issued by [Paxos Trust Company](https://iq.wiki/wiki/paxos), a regulated trust company and custodian.[\\[1\\]](#cite-id-db4m8jp8wjb)​[\\[4\\]](#cite-id-310no6kqk0l)​[\\[7\\]](#cite-id-221svsho26)​\n\nPAX Gold is available on multiple [blockchains](https://iq.wiki/wiki/blockchain), including [Ethereum](https://iq.wiki/wiki/ethereum) and [Solana](https://iq.wiki/wiki/solana), and is fully redeemable 1:1 for the underlying physical gold.[\\[7\\]](#cite-id-221svsho26)​[\\[8\\]](#cite-id-86qelu5ign) Paxos publishes monthly independent attestation reports confirming that the total supply of PAX Gold tokens matches its vaulted gold reserves.[\\[9\\]](#cite-id-c81gwaloza)​\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 fine troy ounce of London Good Delivery gold held in LBMA-accredited vaults in London, and token holders have allocated claims on specific bars.[\\[1\\]](#cite-id-db4m8jp8wjb)​[\\[4\\]](#cite-id-310no6kqk0l) Launched in September 2019, PAX Gold allows users to digitally trade, transfer, and verify their gold holdings, offering faster settlement than traditional gold markets and compatibility with [decentralized finance](https://iq.wiki/wiki/defi) applications.[\\[4\\]](#cite-id-310no6kqk0l)​[\\[6\\]](#cite-id-n0pzxdwd24)​\n\nPAX Gold was initially issued on [Ethereum](https://iq.wiki/wiki/ethereum) and has expanded to other [blockchains](https://iq.wiki/wiki/blockchain), where it functions as a gold-pegged [stablecoin](https://iq.wiki/wiki/stablecoin) fully backed by reserves and redeemable 1:1 for physical gold.[\\[7\\]](#cite-id-221svsho26)​[\\[8\\]](#cite-id-86qelu5ign) Paxos issues monthly independent attestation reports to verify that the supply of PAX Gold tokens matches the gold held in custody.[\\[9\\]](#cite-id-c81gwaloza)​\n\n[YOUTUBE@VID](https://youtube.com/watch?v=PFOUPXRIwj8)\n\n## History\n\nPAX Gold launched in September 2019 as an [ERC-20](https://iq.wiki/wiki/erc-20) token on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain), with each token representing one fine troy ounce of London Good Delivery gold held in LBMA-accredited vaults.[\\[4\\]](#cite-id-310no6kqk0l)​[\\[1\\]](#cite-id-db4m8jp8wjb) From inception, Paxos positioned PAX Gold as a way to make physically backed gold more divisible and transferable while preserving the legal structure of allocated ownership.[\\[4\\]](#cite-id-310no6kqk0l)​\n\nOver time, PAX Gold expanded beyond [Ethereum](https://iq.wiki/wiki/ethereum) to additional [blockchains](https://iq.wiki/wiki/blockchain). Paxos introduced PAX Gold on [Solana](https://iq.wiki/wiki/solana) in June 2026 using the Token-2022 standard and an omnichain contract design to support interoperability with other networks.[\\[8\\]](#cite-id-86qelu5ign) Paxos reports that PAX Gold grew more than 300% between 2024 and mid-2026, reflecting increased adoption of tokenized gold across [crypto](https://iq.wiki/wiki/cryptocurrency) markets.[\\[8\\]](#cite-id-86qelu5ign) Throughout this period, Paxos has published monthly reserve and attestation reports to demonstrate that the token supply remains fully backed by physical gold.[\\[7\\]](#cite-id-221svsho26)​[\\[9\\]](#cite-id-c81gwaloza)​\n\n## Design and Mechanism\n\nPAX Gold is implemented primarily as an [ERC-20](https://iq.wiki/wiki/erc-20) token on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain), using standardized [smart contracts](https://iq.wiki/wiki/smart-contract) to define token attributes, track balances, and facilitate transfers.[\\[4\\]](#cite-id-310no6kqk0l) Its contracts are based on the audited Paxos Standard codebase, with additional security reviews conducted to ensure reliability and resilience.[\\[1\\]](#cite-id-db4m8jp8wjb) PAX Gold tokens are also available on multiple [blockchains](https://iq.wiki/wiki/blockchain), including [Solana](https://iq.wiki/wiki/solana), where they are issued using the Token-2022 standard and an omnichain architecture that enables interoperability through the [LayerZero](https://iq.wiki/wiki/layerzero) messaging and bridging protocol.[\\[7\\]](#cite-id-221svsho26)​[\\[8\\]](#cite-id-86qelu5ign)​\n\n[YOUTUBE@VID](https://youtube.com/watch?v=d_a9ZYixpUs)\n\nEach PAX Gold token corresponds to one fine troy ounce of London Good Delivery gold held in LBMA-accredited vaults, with ownership represented as allocated shares of specific bars identified by serial number, weight, and fineness.[\\[1\\]](#cite-id-db4m8jp8wjb)​[\\[4\\]](#cite-id-310no6kqk0l) Token holders may own fractional interests in multiple bars, and allocations are updated to reflect transfers, redemptions, and other on-chain activity.[\\[4\\]](#cite-id-310no6kqk0l) PAX Gold supports fractional ownership with minimum holdings as low as 0.01 PAXG, and benefits from 24/7 global transferability and compatibility with [Ethereum](https://iq.wiki/wiki/ethereum) wallets, exchanges, and [DeFi](https://iq.wiki/wiki/defi) protocols.[\\[1\\]](#cite-id-db4m8jp8wjb)​[\\[6\\]](#cite-id-n0pzxdwd24) On [Solana](https://iq.wiki/wiki/solana), the contracts and associated omnichain components have been audited by Zellic to assess security of the Token-2022 implementation and cross-chain messaging.[\\[8\\]](#cite-id-86qelu5ign)​\n\n## Tokenomics and Distribution\n\nPAX Gold follows an asset-backed model in which each token is fully collateralized by one fine troy ounce of London Good Delivery gold held in custody by [Paxos Trust Company](https://iq.wiki/wiki/paxos).[\\[1\\]](#cite-id-db4m8jp8wjb)​[\\[4\\]](#cite-id-310no6kqk0l) Paxos creates (mints) and destroys (burns) PAX Gold tokens based on user demand, ensuring that the [circulating supply](https://iq.wiki/wiki/circulating-supply) remains matched to the quantity of vaulted gold.[\\[7\\]](#cite-id-221svsho26) Tokens are always redeemable 1:1 for the underlying gold, subject to minimum redemption amounts and fees.[\\[7\\]](#cite-id-221svsho26)​\n\nHolders can convert PAX Gold into physical gold bars, unallocated gold in a Loco London account, or [fiat](https://iq.wiki/wiki/fiat-money) currency through Paxos or affiliated gold retailers, with large holders (over 430 troy ounces) eligible to redeem full London Good Delivery bars.[\\[4\\]](#cite-id-310no6kqk0l)​[\\[1\\]](#cite-id-db4m8jp8wjb) PAX Gold charges no ongoing storage fees, and users instead pay relatively low creation, redemption, and on-chain transaction costs.[\\[1\\]](#cite-id-db4m8jp8wjb)​[\\[5\\]](#cite-id-bteaf7fka0i) The token is listed on multiple [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) exchanges and is commonly traded against assets such as [Bitcoin](https://iq.wiki/wiki/bitcoin) and [fiat](https://iq.wiki/wiki/fiat-money) currencies, and it is used in lending and borrowing markets where holders can post PAX Gold as [collateral](https://iq.wiki/wiki/collateral) or access yield-generating products.[\\[5\\]](#cite-id-bteaf7fka0i)​[\\[6\\]](#cite-id-n0pzxdwd24)​\n\n## Regulation\n\nPAX Gold is issued by [Paxos Trust Company](https://iq.wiki/wiki/paxos), a regulated trust company and qualified custodian that initially operated under a limited purpose trust charter granted by the New York State Department of Financial Services (NYDFS).[\\[1\\]](#cite-id-db4m8jp8wjb) As a trust company, Paxos holds customer assets in segregated accounts, and PAX Gold tokens are designed to be bankruptcy-remote from Paxos’ corporate assets under this regulatory framework.[\\[1\\]](#cite-id-db4m8jp8wjb)​\n\nOn December 12, 2025, Paxos converted its NYDFS limited purpose trust charter into a national trust charter supervised by the Office of the Comptroller of the Currency (OCC), becoming a federally regulated [blockchain](https://iq.wiki/wiki/blockchain) infrastructure provider.[\\[10\\]](#cite-id-c5jjm4rsb0) In this context, PAX Gold is described by Paxos as an institutional-grade gold token issued under federal regulatory oversight.[\\[10\\]](#cite-id-c5jjm4rsb0) Paxos publishes monthly reserve and attestation reports to confirm that PAX Gold tokens are fully backed by vaulted gold, and as of February 2025 these attestations are performed by KPMG, following earlier reports issued by WithumSmith+Brown from 2019 onward.[\\[7\\]](#cite-id-221svsho26)​[\\[9\\]](#cite-id-c81gwaloza)​","recentActivity":null,"operator":{"id":"0x1E23b34d3106F0C1c74D17f2Cd0F65cdb039b138"},"categories":[{"id":"cryptoassets","title":"Cryptoassets"}],"tags":[{"id":"Ethereum"},{"id":"Stablecoin"},{"id":"Token"}],"images":[{"id":"Qmc63ooNT2k4AyVHZbn9ZVwN7qM3qPALzuwBeY3eZ3SJNa","type":"image/jpeg, image/png"}],"media":[{"name":"PFOUPXRIwj8","id":"https://www.youtube.com/watch?v=PFOUPXRIwj8","size":"0","type":null,"source":"YOUTUBE"},{"name":"pgld.PNG","id":"QmRpRv2WGBh8csr9gqyLuxdqrmXmPBTbESN6aYC4AKf8pU","size":"0.08","type":"GALLERY","source":"IPFS_IMG"},{"name":"d_a9ZYixpUs","id":"https://www.youtube.com/watch?v=d_a9ZYixpUs","size":null,"type":null,"source":"YOUTUBE"}],"linkedWikis":{"founders":["charles-cascarilla","rich-teo"],"blockchains":["ethereum"],"speakers":[]},"events":[{"type":null,"date":"2019-09-01","multiDateStart":null,"multiDateEnd":null,"country":null,"continent":null,"title":"Date Founded","description":"PAX Gold was issued in September 2019 ","link":"https://paxos.com/paxgold/","id":"9281f475-abde-4e98-b33b-6b97b762178f"},{"title":"PAX Gold launch","date":"2019-09-05","type":"CREATED","description":"Paxos launches PAX Gold (PAXG) as an ERC-20 token on Ethereum, backed 1:1 by London Good Delivery gold.","link":"https://paxos.com/wp-content/uploads/2019/09/PAX-Gold-Whitepaper.pdf","country":"USA","continent":"North America","multiDateStart":null,"multiDateEnd":null,"id":"121313f0-5418-4cc4-a550-274832e2798d"},{"title":"Paxos converts to OCC national trust bank","date":"2025-12-01","type":"DEFAULT","description":"Paxos Trust Company converts its NYDFS trust charter into a national trust charter supervised by the U.S. Office of the Comptroller of the Currency, bringing PAXG under federal 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Gold\",\"timestamp\":1661233474073,\"url\":\"https://www.paxos.com/pax-gold\"},{\"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\":\"221svsho26\",\"url\":\"https://docs.paxos.com/guides/stablecoin/paxg\",\"description\":\"PAX Gold Docs\",\"timestamp\":1789788747951},{\"id\":\"86qelu5ign\",\"url\":\"https://www.paxos.com/blog/bringing-paxg-to-solana\",\"description\":\"Bringing PAXG to Solana\",\"timestamp\":1789788747951},{\"id\":\"c81gwaloza\",\"url\":\"https://www.paxos.com/paxg-transparency\",\"description\":\"PAX Gold Transparency Reports\",\"timestamp\":1789788747951},{\"id\":\"c5jjm4rsb0\",\"url\":\"https://www.paxos.com/newsroom/occ-approves-paxos-application-to-convert-to-occ-trust-paxos-to-complete-conversion-imminently-to-become-a-federally-regulated-blockchain-infrastructure-provider\",\"description\":\"Paxos OCC National Trust Charter Announcement\",\"timestamp\":1789788747951}]"},{"id":"previous_cid","value":"QmdUC3UbGzR7f5ET5eD1fYuJsTgeW8TA48ZH2iULzqY3bi"},{"id":"commit-message","value":"Update PAX Gold (PAXG) wiki: expand summary, timeline, tags"},{"id":"previous_cid","value":"QmdUC3UbGzR7f5ET5eD1fYuJsTgeW8TA48ZH2iULzqY3bi"}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x1E23b34d3106F0C1c74D17f2Cd0F65cdb039b138"},"views":1534}