PAX Gold Price PAXG

PAX Gold (PAXG) is an asset-backed token where one token should represent 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 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 is also available for trading on Paxos’ itBit exchange. PAXG will also be available on other crypto-asset exchanges, wallets, lending platforms and elsewhere within the crypto ecosystem.

At any time, PAXG holders can lookup 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.

Categories: Tokenized Assets · Tokenized Gold · Ethereum Ecosystem · Real World Assets (RWA) · Tokenized Commodities · Paxos Ecosystem

PAX Gold (PAXG) is a cryptocurrency that is backed by physical gold, with each token representing one fine troy ounce of a London Good Delivery gold bar stored in professional vault facilities.

The project was launched by Paxos Trust Company, a regulated financial institution, to provide a digital representation of physical gold that can be traded as easily as cryptocurrencies while maintaining the stability and value of gold.

The price of PAXG is primarily influenced by the price of gold, as each token is directly backed by physical gold held in reserve.

Adoption and demand for PAXG are driven by investors seeking exposure to gold as a stable asset, often as a hedge against market volatility or inflation.

Regulatory factors and the financial stability of Paxos Trust Company can also impact the asset's price, as it is a regulated stablecoin.

Market conditions, particularly those affecting cryptocurrencies and traditional financial markets, can influence investor sentiment and demand for stable assets like PAXG.

The supply of PAXG is elastic and tied to the amount of physical gold held in reserve, meaning tokens are minted or redeemed based on investor demand.

PAX Gold has a circulating supply of 435,442 PAXG with no fixed maximum supply, and a total supply of 435,048 PAXG. Its fully diluted valuation is $1.80B.

You can buy PAX Gold (PAXG) on major exchanges such as Binance, Coinbase, Kraken, Bybit and OKX. In Nigeria, PAXG is also available via local exchanges and P2P — see our PAXG in naira page. Always compare fees and use reputable platforms.

One PAXG costs about ₦5.67M to buy on Nigerian P2P markets and sells for about ₦5.64M. The P2P USDT/NGN rate (₦1,363.5) sits 2.4% above the official USD/NGN rate of ₦1,331.28, so dollar-priced crypto effectively carries that spread when you buy with naira.