URL: https://paxos.com/paxgold/
PAXG is an ERC-20 token that is backed by physical gold reserves, stored in London vaults. Each token is equivalent to one fine troy ounce of a London Good Delivery gold bar.
Paxos is a stablecoin operator, of which PAXG is just one of their offerings. Their other products are PYUSD – the Paypal USD stablecoin and PUSD, their own USD stablecoin implementation.
They were the sponsor of Binance’s BUSD stablecoin, in 2023 they ceased activities amid regulatory uncertainty in the US.
To dig into these projects, see the main Gold Backed Crypto Currencies Directory
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