Is Pax Gold a stablecoin backed by physical gold?

3 answers

• Mar 18, 2022 · 3 years ago
  Yes, Pax Gold (PAXG) is indeed a stablecoin that is backed by physical gold. Each PAXG token represents one fine troy ounce of London Good Delivery gold stored in professional vault facilities. This ensures that the value of PAXG is directly linked to the price of gold, providing stability and security for investors.
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• Mar 18, 2022 · 3 years ago
  Absolutely! Pax Gold is a stablecoin that is fully backed by physical gold. This means that for every PAXG token in circulation, there is an equivalent amount of physical gold stored in secure vaults. This unique feature makes PAXG a reliable and transparent investment option for those looking to gain exposure to the price of gold without the hassle of owning and storing physical gold.
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• Mar 18, 2022 · 3 years ago
  Indeed, Pax Gold is a stablecoin backed by physical gold. It is an ERC-20 token built on the Ethereum blockchain, and its value is directly tied to the real-time market price of gold. This means that as the price of gold fluctuates, the value of PAXG will also fluctuate accordingly. It's a great way for investors to diversify their portfolio and hedge against market volatility.
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