Pax Gold (PAXG) is a digital asset fully-backed 1:1 by physical gold reserves held in custody by Paxos Trust Company, an entity fully regulated by the New York State Department of Financial Services (NYDFS). Built as an ERC-20 token on the Ethereum blockchain, PAXG is divisible, fungible, portable, and can be easily obtained. It does not have the drawbacks of limited transportability or high storage costs of physical gold, which is a solution to a fundamental problem for an established market.

PAXG offers investors a cost-effective way to own investment-grade physical gold in the digital form of the underlying asset. With PAXG, investors can gain exposure to fractional tokenized gold to diversify their portfolio risks against the potential volatility in crypto.

Each PAXG token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar. The gold bars are stored in Brink’s vault, approved by the London Bullion Market Association (LBMA). The matching supply of PAXG tokens and underlying gold assets is attested every month. This report is posted on Paxos’ website each month at https://paxos.com/attestations/.

The market cap of PAXG now stands at about $558 million with a total supply of over 320,000 PAXG tokens issued (as of early September 2022). PAXG’s all-time high (ATH) price peaked at $2,241 in May 2021 and is now trading at about $1,700 (as of early September 2022).

Pax Gold (PAXG) is available on the Matrixport app, alongside other blue-chip cryptocurrencies like Bitcoin (BTC), Ether (ETH), Solana (SOL), Stablecoins (USDT & USDC), and many more. Users can swap, auto-invest, deposit, withdraw and transfer PAXG on the app.

About Matrixport

Matrixport is one of the world's largest and most trusted digital assets financial services ecosystem and forges strategic collaborations with early stage Web3 innovators, helping them build, grow and scale. With USD4B in digital assets actively managed, it provides one-stop crypto financial services to meet the emerging needs of generating long term wealth in digital assets. The company’s services include Cactus Custody™, spot OTC, fixed income, structured products (including Dual Currency), lending as well as asset management.

In 2022, Matrixport was named by CB Insights as the 50 most promising blockchain and crypto companies in the world. With its mission to make crypto easy for everyone, Matrixport has a relentless focus on product innovation and offers a comprehensive suite of market leading crypto investment products. In 2021, the number of investors using its app increased by 427%, year-on-year, and the fintech company achieved pre-money unicorn valuation within two years after its inception.

Headquartered in Singapore, Matrixport serves individuals as well as over 500 institutions across Asia and Europe. The company holds licenses in Hong Kong and Switzerland. For more information, visit www.matrixport.com.


About Pax Gold (PAXG):

Pax Gold (PAXG) is an ERC-20 digital asset. Each token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults. If you own PAXG, you own the underlying physical gold, held in custody by Paxos Trust Company. PAX Gold (PAXG) lowers the entry barrier to gold investment by allowing users to own fractions of physical gold without the burden of storage and transportation fees.