Get to know PAXG (PAX Gold)

What is PAXG (Pax Gold)

PAXG, or Pax Gold, is a cryptocurrency token pegged to the value of real gold. Gold has been considered a store of value for thousands of years—even before the Common Era. It symbolizes wealth and trust throughout different generations. While gold was once used for direct transactions, its practicality in modern times declined due to difficulty in transportation, verification, and liquidity. PAXG changes the game by allowing people to interact with gold digitally—faster, safer, and more transparent. 

Who Created PAXG 

PAXG was developed by Paxos, a regulated financial technology company. The CEO, Charles Cascarilla, is a Wall Street veteran who worked at firms like Goldman Sachs. He later developed an interest in blockchain and launched a crypto exchange called itBit in 2012, which later became Paxos. Paxos holds a Trust Charter from the New York State Department of Financial Services, making it a highly credible and trusted name in the industry. 

Key Features of PAXG 

PAXG is a token built on the Ethereum blockchain or ERC-20 and backed 1:1 by real gold. That means for every 1 PAXG token, there’s 1 troy ounce of real, physical gold stored in a secure vault. This system allows people to invest in gold without physically holding or transporting gold bars. All transactions are recorded transparently on the blockchain, ensuring accountability and faster processing at lower fees compared to traditional gold transfers. 

The physical gold that backs PAXG is stored in London Bullion Market Association (LBMA)-certified vaults. Paxos cannot simply “mint” tokens out of thin air—new tokens can only be issued when real gold is deposited. 

Advantages of PAXG 

Imagine trying to send 1,000 ounces of gold overseas—it would take days, involve high shipping insurance costs, and carry significant risk. With PAXG, you can send that value in minutes over the Ethereum blockchain, paying only network fees. PAXG can also be redeemed for real gold through Paxos or selected dealers like Alpha Bullion (availability may vary by country; redemption is not yet available in Thailand). 

The Future of PAXG 

As interest in both gold and cryptocurrencies continues to rise, PAXG stands at a unique intersection. It offers a bridge between a timeless store of value—gold—and cutting-edge blockchain technology. For investors who want exposure to gold without the hassle of physical storage, PAXG is a compelling choice. It’s easy to trade, globally accessible, and backed by a respected financial institution. 

Conclusion 

PAXG is essentially gold in crypto market, solving many traditional issues such as transport, authentication, and storage. It ensures security, transparency, and efficiency—all while maintaining the value of real, 100% pure gold. In a world that’s rapidly going digital, PAXG is a gold-backed asset that blends the best of both worlds.