With the help of Pax Gold (PAXG), investors can hold actual gold without having to worry about shipping or storage costs. Each PAXG token is backed by a single fine troy ounce of gold, which is kept in custody by the Paxos Trust Company, an authorised financial institution that guarantees the integrity and security of the gold reserves.
Paxos, a financial technology company that specialises in blockchain-based financial solutions, introduced Pax Gold in September 2019. The platform enables investors to own and trade gold in a secure and effective manner utilising blockchain technology, bridging the gap between conventional financial assets and the technology.
The goal of Pax Gold is to give investors a safe, easy, and transparent option to buy gold without the need for delivery or storage of physical assets. Investors can profit from the price of gold, which has traditionally been viewed as a safe-haven asset, while avoiding the risks and expenses related to owning actual gold by investing in PAXG.
Due to its quick global transmission and suitability for a range of use cases, including cross-border payments, remittances, and merchant payments, Pax Gold can also be used as a form of payment.
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