Gold
PAXG is a physical-gold token on a blockchain that gives holders ownership of allocated physical gold. Each token represents one fine troy ounce of London Good Delivery gold stored in professional London vaults.
PAXG is a physical-gold token on a blockchain that gives holders ownership of allocated physical gold. Each token represents one fine troy ounce of London Good Delivery gold stored in professional London vaults.
“PAX Gold customers own the underlying physical gold, while also benefiting from the speed and mobility of a digital asset.”
“A customer purchasing allocated gold has ownership over specific gold bars that can be held in a vault or by the customer. A customer purchasing unallocated gold does not have ownership over specific gold bars, but rather has entitlement to some share of a certain quantity of gold.”
“PAX Gold is a digital asset where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vaults in London.”
“the allocated gold stablecoin managed by Paxos (“PAX Gold”)”
“Because PAX Gold represents physical gold, its value is tied directly to the real-time market value of gold.”
Underlying
Gold
Investors acquire PAXG through itBit or other exchanges. Paxos continuously allocates each token to specific bars or pro rata bar interests. Market value follows real-time gold prices. Investors exit by trading PAXG or redeeming eligible holdings for physical gold.
“On Paxos’ itBit and other exchanges, PAXG will trade against fiat and digital assets.”
“Paxos allocates gold automatically so that all PAX Gold (PAXG) tokens are allocated to specific gold bars at all times. When customers are not allocated ownership of a full gold bar, they will own pro rata shares of bars as determined by PAXG token holdings.”
“Paxos may also reallocate PAX Gold tokens to different bars from time to time in order to take into account transfers of tokens, new exchanges of tokens, conversions and other PAXG transactional activity.”
“Because PAX Gold represents physical gold, its value is tied directly to the real-time market value of gold.”
“Paxos Trust Company, a regulated financial institution that digitizes and mobilizes assets, today launched PAX Gold (Ethereum ticker: PAXG), the first crypto-asset redeemable for physical gold.”
Underlying issuer
Paxos Trust Company operates a regulated blockchain infrastructure and tokenization platform. It issues US dollar stablecoins including USDP, PYUSD, and BUSD, and its affiliates jointly issue USDG. It also issues PAXG, a tokenized gold product backed by vaulted gold.
“PAX Gold is issued by Paxos Trust Company, a financial institution regulated by the NYDFS. The NYDFS also regulates Paxos’ individual products, ensuring greater customer protections and higher standards of operation. The NYDFS has specifically approved PAX Gold as an authorized and regulated Paxos product.”
Pool-wide metrics
Yield source
Growth of $10,000 over all history
$10,726.42
+$726.42As of August 8, 2026
Since inception
PAXG
+14.26%
Shared legal identity, ownership, people, incidents, and channels.
The legal claim, governing regime, and holder protections if the structure fails.
Protects holders if the issuer fails.
“© 2026 Paxos Trust Company, N.A. All Rights Reserved.”
“The New York State Department of Financial Services (NYDFS) has approved Paxos to issue PAX Gold, making PAX Gold the first regulated digital gold product.”
Where the backing sits, who can touch it, and which independent checks apply.
Holds the underlying, independent of the issuer.
Paxos classifies these examinations as attestations, not audits.
“Paxos has engaged Withum, a nationally top-ranking auditing firm, to independently verify at specific points in time that the entire supply of PAX Gold tokens is consistent with troy ounces of gold held within the custody of third parties in the United Kingdom on behalf of Paxos Trust Company, LLC.”
“In that regard, Withum performs specific month-end attestation procedures on these accounts in accordance with standards established by the AICPA. These monthly attestation reports can be found on the Paxos website.”
Fee
Rate
Charged by
“For transactions that occur on-chain (transferred via Ethereum), there is a low Paxos transaction fee (0.02%) as well as the usual Ethereum gas fees (typically a few cents).”
0.02%
—
The settlement ladder for exiting your position.
“Through Paxos.com, customers can redeem full-sized London Good Delivery gold bars. Through a network of gold retailers, they can convert smaller amounts to physical gold all over the world.”
Concentration
PAXG concentrates economic exposure in allocated gold; unallocated-gold exits additionally depend on a third-party Clearing Bank
“the allocated gold stablecoin managed by Paxos (“PAX Gold”)”
“Paxos is not responsible for any losses associated with any default by a Clearing Bank, or any unavailability of your unallocated balance, either temporarily or permanently, due to non-performance of the Clearing Bank for any reason, including but not limited to, insolvency, default, or operational error.”
Current onchain authority configuration first, followed by documented operational controls.
Permanent delegate
Transfer hook
Supply and mint authority
Canonical deployment
The corpus does not establish whether the Solana instance is issuer-native or bridged.
“Because PAX Gold represents physical gold, its value is tied directly to the real-time market value of gold.”
“Management Fees 0 %”
“Performance Fees 0 %”
Collateralization
“Paxos Trust Company has engaged Withum, a nationally top-ranking auditing firm, to independently verify at month end that the entire supply of PAX Gold tokens corresponds 1:1 with ounces of London Good Delivery gold held in vaults.”
1 holdings · sorted by weight
“PAX Gold is a digital asset where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vaults in London.”
“PAX Gold is backed by physical gold and is allocated down to the serial number of each individual bar.”
“PAXG is backed by one fine troy ounce of gold, stored in LBMA vaults”
Benchmark
Benchmark unavailable
Since inception
PAXG
+7.26%
Benchmark
Benchmark unavailable
Key people
Key people
Service providers
Brink’s Global Services Ltd. provides gold custody.
INTL FCStone sources gold and supplies live pricing.
Backers
Incidents
Official channels
“As a New York State-chartered Trust company, Paxos is regulated by the NYDFS, requiring it to uphold certain standards of stability, transparency and accountability.”
“Last Modified: June 30, 2026”
“a legally binding contract between Paxos Trust Company, NA, a national banking association organized under the laws of the United States and regulated by the Office of the Comptroller of the Currency (“Paxos Trust”)”
“Paxos has the ability and the right to freeze and upgrade all PAXG tokens (on an aggregate basis), regardless of where the PAXG is being held.”
“Paxos will only freeze such assets (1) if required to do so by law, specifically when Paxos receives a formal legal directive from a regulator, judicial body, law enforcement agency, or other legal entity having jurisdiction over Paxos, (2) pursuant to a formal notification by a Paxos partner according to previously agreed contractual terms, or (3) as deemed necessary by Paxos in its sole discretion.”
“we reserve the right, in our sole and absolute discretion, to block access to or to suspend, close or terminate your Account, refuse to let you purchase or redeem your crypto assets, and freeze all funds or assets in your Account, at any time, with or without advance notice,”
“Paxos is a limited purpose trust company chartered by the New York State Department of Financial Services.”
“Since PAX Gold is issued by a state-chartered trust company, customer assets are kept separately from the company’s assets. All gold bars represented by PAX Gold tokens are custodied by Paxos for PAX Gold holders and do not become a part of the company’s estate in the event of the company’s insolvency.”
“Since PAX Gold is issued by a state-chartered trust company, customer assets are kept separately from the company’s assets. All gold bars represented by PAX Gold tokens are custodied by Paxos for PAX Gold holders and do not become a part of the company’s estate in the event of the company’s insolvency.”
“If we terminate your Account, we will return the assets in your Account to you, less the value of any damages to which we are entitled pursuant to this Agreement, subject to applicable law.”
“Withum takes those management attestations at face value, so the result is not called an audit.”
Brink’s Global Services Ltd. physically custodies PAXG gold.
Paxos holds allocated gold for token holders separately from company assets.
“Custodian Legal Identifier Brink’s Global Services Ltd.”
“Since PAX Gold is issued by a state-chartered trust company, customer assets are kept separately from the company’s assets. All gold bars represented by PAX Gold tokens are custodied by Paxos for PAX Gold holders and do not become a part of the company’s estate in the event of the company’s insolvency.”
“There are no storage fees and low creation/destruction fees that are tiered based on volume.”
“Free gold storage in the most secure vaults in the world;”
0%
—
Subject to change. Any update is shown in the buy form before you confirm a transaction.
“You must redeem a minimum of 430 PAXG tokens plus the fee set forth in the Paxos User Guide, per London Good Delivery gold bar.”
“Verified users have the option to redeem the PAXG tokens for physical gold, In order to redeem PAXG into physical Gold, users must submit a redeem request for over 430 PAXG tokens on the Account Page and set up a time for London Good Delivery of the physical gold bars.”
“Paxos account holders can convert PAX Gold into U.S. Dollars or unallocated gold in a Loco London unallocated gold account, and vice versa.”
“Paxos will make commercially reasonable efforts to convert and/or redeem your PAXG quickly. It may take up to several business days for your Account balance to reflect the conversion or redemption, depending on your method of conversion or redemption.”
Underlying / economic
Holders bear substantial gold-price risk because PAXG represents allocated gold and crypto-asset values can fluctuate greatly
“the allocated gold stablecoin managed by Paxos (“PAX Gold”)”
“You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.”
Regulatory
PAXG received specific NYDFS approval for Paxos customers
Is OCC-regulated. Regulatory actions can impair token use, transfer, or value.
“Crypto assets available on the Exchange for trading for Custody with Paxos include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), PAX Gold (PaxG), Chainlink (LINK), Polygon (MATIC), Aave (AAVE) and Uniswap (UNI), all of which were approved for customers of Paxos through specific approval from the New York Department of Financial Services (NYDFS).”
“a legally binding contract between Paxos Trust Company, NA, a national banking association organized under the laws of the United States and regulated by the Office of the Comptroller of the Currency (“Paxos Trust”)”
“legislative and regulatory changes or actions at the state, provincial, federal or international level may adversely affect the use, transfer and value of crypto assets;”
Issuer failure
Paxos may suspend accounts, causing value loss; directly held assets lack general government insurance
“We are not responsible for any loss of value in your Account, or of any crypto asset or fiat currency, resulting from the suspension or closing or your Account for any of the reasons listed above, including your violation of this Agreement or from any government seizure or forfeiture.”
“All assets directly held by Paxos on your behalf are not insured by Paxos or, except as explicitly set forth in this Agreement, by any government agency.”
Custodian
PAXG converted into unallocated gold depends on a third-party Clearing Bank whose failure can make balances permanently unavailable
“Paxos is not responsible for any losses associated with any default by a Clearing Bank, or any unavailability of your unallocated balance, either temporarily or permanently, due to non-performance of the Clearing Bank for any reason, including but not limited to, insolvency, default, or operational error.”
Credit / counterparty
A Clearing Bank default, insolvency, or operational error can make converted unallocated-gold balances unavailable without Paxos liability
“Paxos is not responsible for any losses associated with any default by a Clearing Bank, or any unavailability of your unallocated balance, either temporarily or permanently, due to non-performance of the Clearing Bank for any reason, including but not limited to, insolvency, default, or operational error.”
Exit risk
PAXG conversions may take several business days, while physical redemption requires at least 430 PAXG per bar
“Paxos will make commercially reasonable efforts to convert and/or redeem your PAXG quickly. It may take up to several business days for your Account balance to reflect the conversion or redemption, depending on your method of conversion or redemption.”
“You must redeem a minimum of 430 PAXG tokens plus the fee set forth in the Paxos User Guide, per London Good Delivery gold bar.”
“Paxos froze 11,184.38 PAXG tokens valued at roughly $19 million.”
“Paxos has the ability and the right to freeze and upgrade all PAXG tokens (on an aggregate basis), regardless of where the PAXG is being held.”
“Paxos will only freeze such assets (1) if required to do so by law, specifically when Paxos receives a formal legal directive from a regulator, judicial body, law enforcement agency, or other legal entity having jurisdiction over Paxos, (2) pursuant to a formal notification by a Paxos partner according to previously agreed contractual terms, or (3) as deemed necessary by Paxos in its sole discretion.”
“If tokens are seized, the Paxos transaction generation will ensure that the seized funds are sent to a segregated wallet address held by Paxos for the purposes of seizure/forfeiture, until such time as they may be disposed of or otherwise handled as required by law.”
“We reserve the right to change or modify our fee structure or increase any of our fees at any time and from time to time. Any such changes, modifications or increases will be effective upon posting on the Platform, in the Paxos User Guide or an updated Pricing Supplement, subject to any requirement under applicable law to provide additional notice.”
“Paxos froze 11,184.38 PAXG tokens valued at roughly $19 million.”
“As always, Paxos will continue to work closely with law enforcement and regulators.”
“Paxos will only freeze such assets (1) if required to do so by law, specifically when Paxos receives a formal legal directive from a regulator, judicial body, law enforcement agency, or other legal entity having jurisdiction over Paxos, (2) pursuant to a formal notification by a Paxos partner according to previously agreed contractual terms, or (3) as deemed necessary by Paxos in its sole discretion.”
“Paxos Status”
“Paxos has the ability and the right to freeze and upgrade all PAXG tokens (on an aggregate basis), regardless of where the PAXG is being held.”
“Ethereum Native Distributed ERC-20”
“Ethereum Native Distributed ERC-20”
“Ethereum Mainnet 0x45804880De22913dAFE09f4980848ECE6EcbAf78”
“Solana Mainnet Beta 5GgRAEmv8ZxF2PR5hY72Qs5x1bnQ6UK2RbTPoqJ3wSwW”
“PAX Gold is built as an Ethereum token, following the ERC-20 protocol, so that it is easy to integrate with exchanges, wallets, lending platforms and other crypto products.”
Bridge provider
“Sunrise uses Wormhole's Native Token Transfers framework to bring an asset into Solana's trading stack as a canonical mint.”
“It is the deployment the issuer controls and designates as their official cross-chain version through Wormhole's NTT framework, not a bridge-specific synthetic minted by a third-party custodian.”
Oracle dependencies
Bad inputs can impair dependent pricing.
“The initial integration, which is now live in production, involves the launch of Chainlink-powered decentralized Price Feeds for both the PAX and PAXG tokens”
“the PAX and PAXG Price Feeds will provide smart contracts with on-chain price data backed by a decentralized network of security reviewed oracle nodes and sourced from off-chain data aggregators that maintain volume-adjusted market coverage across all trading environments”
“the price of PAXG is based on streaming prices directly from our partner StoneX to represent the real-time London gold market.”
Networks
“Ethereum Mainnet 0x45804880De22913dAFE09f4980848ECE6EcbAf78”
“Solana Mainnet Beta 5GgRAEmv8ZxF2PR5hY72Qs5x1bnQ6UK2RbTPoqJ3wSwW”
Gold’s real-time market value determines changes in PAXG’s value. The product charges no management or performance fees.
“On Paxos’ itBit and other exchanges, PAXG will trade against fiat and digital assets.”
“Paxos may also reallocate PAX Gold tokens to different bars from time to time in order to take into account transfers of tokens, new exchanges of tokens, conversions and other PAXG transactional activity.”
“Note that this allocation may change constantly given that the system takes into account all PAXG transactions throughout the day.”
“Because PAX Gold represents physical gold, its value is tied directly to the real-time market value of gold.”
“Management Fees 0 %”
“Performance Fees 0 %”
Paxos issues PAXG.
“the allocated gold stablecoin managed by Paxos (“PAX Gold”)”
“PAX Gold customers own the underlying physical gold, while also benefiting from the speed and mobility of a digital asset.”
“PAX Gold is a digital asset where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vaults in London.”
“PAX Gold is an asset-backed digital token, each representing one fine troy ounce of London Good Delivery gold stored in professional vault facilities in London.”
“the gold-backed token PAX Gold (PAXG)”
NYDFS specifically approved PAXG for Paxos customers.
“a legally binding contract between Paxos Trust Company, NA, a national banking association organized under the laws of the United States and regulated by the Office of the Comptroller of the Currency (“Paxos Trust”)”
“Crypto assets available on the Exchange for trading for Custody with Paxos include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), PAX Gold (PaxG), Chainlink (LINK), Polygon (MATIC), Aave (AAVE) and Uniswap (UNI), all of which were approved for customers of Paxos through specific approval from the New York Department of Financial Services (NYDFS).”
“Last Modified: December 12, 2025”
“PAX Gold (PAXG), issued by Paxos Trust Company, NA (Paxos), is a regulated, fully backed tokenized gold product.”
“PAXG is issued by Paxos Trust Company, N.A., a U.S. national trust bank regulated by the OCC, and is available on Ethereum and Solana.”
“We issue PAXG as a national trust bank regulated by the Office of the Comptroller of the Currency (OCC), one of the most rigorous oversight frameworks available for a digital asset issuer.”
“Pax Gold (PAXG) is a digital token where one token equals one fine troy ounce of physical gold.”
“Each ounce is stored in London Bullion Market Association (LBMA) accredited vaults.”
“Every token in circulation is backed by a specific, auditable bar of physical gold. The flow is always the same direction: gold enters the vault before tokens enter the market.”
“Each PAXG token represents one fine troy ounce of London Good Delivery gold, held in LBMA-accredited vaults in London on a segregated basis for the benefit of PAXG holders.”
“held in LBMA-accredited vaults in London on a segregated basis for the benefit of PAXG holders”
“Transparency Reports”
“Paxos Freezes PAXG Tokens Related to FTX”
“Last Modified: December 12, 2025”
“Last Modified: December 12, 2025”
“Terms Paxos Gold Whitepaper”
Paxos may refuse redemptions or freeze accounts without notice. The corpus discloses no aggregate PAXG redemption cap.
“Purchases and sales of PAX Gold (PAXG) are only available during London gold market hours on paxos.com (open from Sunday 6pm ET through Friday 5pm ET; closed weekdays from 5-6pm ET and applicable gold market holidays).”
“When markets are closed, orders cannot be placed on the Paxos platform.”
“Paxos will make commercially reasonable efforts to convert and/or redeem your PAXG quickly. It may take up to several business days for your Account balance to reflect the conversion or redemption, depending on your method of conversion or redemption.”
“we reserve the right, in our sole and absolute discretion, to block access to or to suspend, close or terminate your Account, refuse to let you purchase or redeem your crypto assets, and freeze all funds or assets in your Account, at any time, with or without advance notice,”
Regulatory or court directives can trigger account freezes. Legal changes can impair crypto-asset use, transfer, and value.
“Last Modified: June 30, 2026”
“Crypto assets available on the Exchange for trading for Custody with Paxos include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), PAX Gold (PaxG), Chainlink (LINK), Polygon (MATIC), Aave (AAVE) and Uniswap (UNI), all of which were approved for customers of Paxos through specific approval from the New York Department of Financial Services (NYDFS).”
“a legally binding contract between Paxos Trust Company, NA, a national banking association organized under the laws of the United States and regulated by the Office of the Comptroller of the Currency (“Paxos Trust”)”
“(vii) we are directed to do so by law enforcement, regulatory authority or court order; (viii) we are required to do so by applicable law or regulation;”
“legislative and regulatory changes or actions at the state, provincial, federal or international level may adversely affect the use, transfer and value of crypto assets;”
“We do not own or control any blockchains protocols, are not responsible for the operation of blockchain networks and make no guarantees regarding any blockchain network’s security, functionality, or availability.”
“transactions in crypto assets may be irreversible, and accordingly, losses due to fraudulent or accidental transactions may not be recoverable;”
The corpus does not identify allocated-gold custodian concentration.
“Paxos is not responsible for any losses associated with any default by a Clearing Bank, or any unavailability of your unallocated balance, either temporarily or permanently, due to non-performance of the Clearing Bank for any reason, including but not limited to, insolvency, default, or operational error.”
Paxos says Trust customer assets are never lent. Paxos-held assets generally lack government insurance.
“we reserve the right, in our sole and absolute discretion, to block access to or to suspend, close or terminate your Account, refuse to let you purchase or redeem your crypto assets, and freeze all funds or assets in your Account, at any time, with or without advance notice,”
“We are not responsible for any loss of value in your Account, or of any crypto asset or fiat currency, resulting from the suspension or closing or your Account for any of the reasons listed above, including your violation of this Agreement or from any government seizure or forfeiture.”
“Paxos Trust is required to operate differently than a bank, and in particular, does not hold fractional reserves and instead holds all customer assets 1:1, ensuring customer funds are always available for redemption.”
“Paxos Trust will never lend out customer assets.”
“Except as expressly stated in this Agreement, all assets directly held by Paxos are not insured by Paxos or by any government agency.”
“the allocated gold stablecoin managed by Paxos (“PAX Gold”)”
“Paxos is not responsible for any losses associated with any default by a Clearing Bank, or any unavailability of your unallocated balance, either temporarily or permanently, due to non-performance of the Clearing Bank for any reason, including but not limited to, insolvency, default, or operational error.”
“the allocated gold stablecoin managed by Paxos (“PAX Gold”)”
“the price and liquidity of crypto assets has been subject to large fluctuations in the past and may be subject to large fluctuations in the future;”
“Through Paxos.com, customers can redeem full-sized London Good Delivery gold bars. Through a network of gold retailers, they can convert smaller amounts to physical gold all over the world.”
Paxos charges the User Guide fee per bar. Sources dispute whether the minimum equals or exceeds 430 PAXG.
“You must redeem a minimum of 430 PAXG tokens plus the fee set forth in the Paxos User Guide, per London Good Delivery gold bar.”
“Verified users have the option to redeem the PAXG tokens for physical gold, In order to redeem PAXG into physical Gold, users must submit a redeem request for over 430 PAXG tokens on the Account Page and set up a time for London Good Delivery of the physical gold bars.”
“If customers hold more than 430 oz in PAX Gold, they can redeem their tokens for a physical gold bar.”
“Paxos will make commercially reasonable efforts to convert and/or redeem your PAXG quickly. It may take up to several business days for your Account balance to reflect the conversion or redemption, depending on your method of conversion or redemption.”
PAXG-specific evidence states no minimum, cap, or fee.
“Paxos account holders can convert PAX Gold into U.S. Dollars or unallocated gold in a Loco London unallocated gold account, and vice versa.”
“Paxos will make commercially reasonable efforts to convert and/or redeem your PAXG quickly. It may take up to several business days for your Account balance to reflect the conversion or redemption, depending on your method of conversion or redemption.”
Paxos may take several business days to update the account balance. PAXG-specific evidence states no minimum, cap, or fee.
“Paxos account holders can convert PAX Gold into U.S. Dollars or unallocated gold in a Loco London unallocated gold account, and vice versa.”
“Paxos will make commercially reasonable efforts to convert and/or redeem your PAXG quickly. It may take up to several business days for your Account balance to reflect the conversion or redemption, depending on your method of conversion or redemption.”
“For transactions that occur on-chain (transferred via Ethereum), there is a low Paxos transaction fee (0.02%) as well as the usual Ethereum gas fees (typically a few cents).”
“Paxos froze 11,184.38 PAXG tokens valued at roughly $19 million.”
“As always, Paxos will continue to work closely with law enforcement and regulators.”
“Paxos has the ability and the right to freeze and upgrade all PAXG tokens (on an aggregate basis), regardless of where the PAXG is being held.”
“PAXG tokens are created and destroyed by Paxos as needed.”
Oracle failures impair consuming applications.
“We are proud to announce that Paxos , the leading financial market infrastructure and crypto brokerage platform, is now working with Chainlink to leverage its market-leading decentralized oracle network.”
“The initial integration, which is now live in production, involves the launch of Chainlink-powered decentralized Price Feeds for both the PAX and PAXG tokens”
“the PAX and PAXG Price Feeds will provide smart contracts with on-chain price data backed by a decentralized network of security reviewed oracle nodes and sourced from off-chain data aggregators that maintain volume-adjusted market coverage across all trading environments”
“the price of PAXG is based on streaming prices directly from our partner StoneX to represent the real-time London gold market.”
Solana's native-or-bridged status is unestablished.
“Ethereum Native Distributed ERC-20”
“Ethereum Mainnet 0x45804880De22913dAFE09f4980848ECE6EcbAf78”
“Solana Mainnet Beta 5GgRAEmv8ZxF2PR5hY72Qs5x1bnQ6UK2RbTPoqJ3wSwW”
“Ethereum Mainnet 0x45804880De22913dAFE09f4980848ECE6EcbAf78”
“Solana Mainnet Beta 5GgRAEmv8ZxF2PR5hY72Qs5x1bnQ6UK2RbTPoqJ3wSwW”
“Paxos’s AML program will be subject to independent testing through an annual, independent AML audit. The audit will be conducted by an independent third party with working knowledge of AML requirements, or by Paxos personnel with working knowledge of AML requirements, none of whom work for or with the Compliance Officer.”
“The gold is <!-- Page 7 --> secured, stored and safeguarded at a precious metals security facility within locked London vaults.”
“Paxos has engaged Withum, a nationally top-ranking auditing firm, to independently verify at specific points in time that the entire supply of PAX Gold tokens is consistent with troy ounces of gold held within the custody of third parties in the United Kingdom on behalf of Paxos Trust Company, LLC.”
“Our vault provider maintains insurance against loss of the gold held in custody by Paxos for the benefit of PAX Gold token holders.”
“As such, allocated gold-backed PAX Gold tokens are protected both in the vault facilities and in transit.”
“Here, you can get your gold bar’s serial number, brand code, gross weight, fineness and fine weight. This tool can be found in the PAX Gold tab on your account Dashboard.”
“If you hold PAX Gold on-chain outside of Paxos , you can review details on your gold bars here . You just need an Ethereum address to look up your tokens.”
“At any time, token holders can look up the serial number, brand code, gross weight, fineness, and fine weight of their gold bar holdings using an Ethereum wallet address.”
“Paxos has engaged Withum, a nationally top-ranking auditing firm, to independently verify at specific points in time that the entire supply of PAX Gold tokens is consistent with troy ounces of gold held within the custody of third parties in the United Kingdom on behalf of Paxos Trust Company, LLC.”
“Paxos has engaged Withum, a nationally top-ranking auditing firm, to independently verify at specific points in time that the entire supply of PAX Gold tokens is consistent with troy ounces of gold held within the custody of third parties in the United Kingdom on behalf of Paxos Trust Company, LLC.”
“In that regard, Withum performs specific month-end attestation procedures on these accounts in accordance with standards established by the AICPA. These monthly attestation reports can be found on the Paxos website.”
“Withum takes those management attestations at face value, so the result is not called an audit.”
“Withum also discloses that its standards are in accordance with the explicit standards of the American Institute of Certified Public Accountants ( AICPA ).”
Paxos holds holder gold through unnamed UK third-party custodians.
Holder gold remains segregated from Paxos's company assets.
“Paxos has engaged Withum, a nationally top-ranking auditing firm, to independently verify at specific points in time that the entire supply of PAX Gold tokens is consistent with troy ounces of gold held within the custody of third parties in the United Kingdom on behalf of Paxos Trust Company, LLC.”
“Since PAX Gold is issued by a state-chartered trust company, customer assets are kept separately from the company’s assets. All gold bars represented by PAX Gold tokens are custodied by Paxos for PAX Gold holders and do not become a part of the company’s estate in the event of the company’s insolvency.”
“As a New York State-chartered Trust company, Paxos is regulated by the NYDFS, requiring it to uphold certain standards of stability, transparency and accountability.”
“Paxos froze 11,184.38 PAXG tokens valued at roughly $19 million.”
“Paxos has the ability and the right to freeze and upgrade all PAXG tokens (on an aggregate basis), regardless of where the PAXG is being held.”
“Paxos will only freeze such assets (1) if required to do so by law, specifically when Paxos receives a formal legal directive from a regulator, judicial body, law enforcement agency, or other legal entity having jurisdiction over Paxos, (2) pursuant to a formal notification by a Paxos partner according to previously agreed contractual terms, or (3) as deemed necessary by Paxos in its sole discretion.”
“If tokens are seized, the Paxos transaction generation will ensure that the seized funds are sent to a segregated wallet address held by Paxos for the purposes of seizure/forfeiture, until such time as they may be disposed of or otherwise handled as required by law.”
“Since PAX Gold is issued by a state-chartered trust company, customer assets are kept separately from the company’s assets. All gold bars represented by PAX Gold tokens are custodied by Paxos for PAX Gold holders and do not become a part of the company’s estate in the event of the company’s insolvency.”
“The term “bankruptcy remote” means that in the unlikely event of Paxos Trust’s insolvency, customer assets are protected .”
“Paxos Trust is legally obligated to hold assets fully segregated and thus bankruptcy remote such that customer assets are always protected under New York law.”
National banking association. Segregated custodial treatment protects holder gold.
“© 2026 Paxos Trust Company, N.A. All Rights Reserved.”
“a legally binding contract between Paxos Trust Company, NA, a national banking association organized under the laws of the United States and regulated by the Office of the Comptroller of the Currency (“Paxos Trust”)”
“Since PAX Gold is issued by a state-chartered trust company, customer assets are kept separately from the company’s assets. All gold bars represented by PAX Gold tokens are custodied by Paxos for PAX Gold holders and do not become a part of the company’s estate in the event of the company’s insolvency.”
“Custodian Legal Identifier Brink’s Global Services Ltd.”
“Auditor WithumSmith+Brown”
“Paxos Trust Company has engaged Withum, a nationally top-ranking auditing firm, to independently verify at month end that the entire supply of PAX Gold tokens corresponds 1:1 with ounces of London Good Delivery gold held in vaults.”
“Further, Paxos has deep experience providing digital services to the institutional gold market through its post-trade settlement services, giving Paxos the ability to leverage relationships with premium institutions like Brink’s for gold storage and INTL FCStone for sourcing gold and receiving live pricing data.”
Paxos issues PAXG alongside PYUSD and USDP.
“Paxos is the leading regulated blockchain infrastructure and tokenization platform.”
“Today, as the first regulated Trust company for digital assets, Paxos technology makes it possible to tokenize, custody, trade and settle assets.”
“Crypto Brokerage Stablecoin Payments Stablecoin Issuance Mint and Redeem itBit”
“It is the issuer of numerous regulated digital assets including PayPal USD (PYUSD), Pax Dollar (USDP) and Pax Gold (PAXG).”
“Paxos Trust Company, a regulated financial institution that digitizes and mobilizes assets, today launched PAX Gold (Ethereum ticker: PAXG), the first crypto-asset redeemable for physical gold.”
“Because PAX Gold represents physical gold, its value is tied directly to the real-time market value of gold.”
Paxos may reallocate bar assignments as token activity changes. Physical-gold backing has no maturity or credit rating.
“Paxos allocates gold automatically so that all PAX Gold (PAXG) tokens are allocated to specific gold bars at all times. When customers are not allocated ownership of a full gold bar, they will own pro rata shares of bars as determined by PAXG token holdings.”
“Paxos may also reallocate PAX Gold tokens to different bars from time to time in order to take into account transfers of tokens, new exchanges of tokens, conversions and other PAXG transactional activity.”
“Note that this allocation may change constantly given that the system takes into account all PAXG transactions throughout the day.”
“Anyone who owns PAX Gold owns the underlying gold which is held under the custody of Paxos Trust Company.”
“Paxos allocates gold automatically so that all PAX Gold (PAXG) tokens are allocated to specific gold bars at all times. When customers are not allocated ownership of a full gold bar, they will own pro rata shares of bars as determined by PAXG token holdings.”
“PAX Gold is backed by physical gold and is allocated down to the serial number of each individual bar.”
“Asset Class Commodities”
“the gold-backed token PAX Gold (PAXG)”
“PAXG is backed by one fine troy ounce of gold, stored in LBMA vaults”
Paxos account opening requires identity, tax, and beneficial-owner information. Users must meet legal-age requirements.
“U.S. and Global Retail”
“In creating an Account, you will be asked to provide certain registration details and information about you (including, but not limited to, your name, address, date of birth, tax identification number and other information about your beneficial owners and authorized users to the extent applicable). We may also ask to see your driver’s license or other identifying documents as part of the onboarding process.”
“If you are under the age of eighteen (18) or the legal age for entering legally binding contracts under applicable laws, you are not permitted to use any of the Paxos Platform.”
Forks may receive delayed or no Paxos support.
“We do not own or control any blockchains protocols, are not responsible for the operation of blockchain networks and make no guarantees regarding any blockchain network’s security, functionality, or availability.”
“We generally do not own or control the underlying software protocols of crypto asset networks that govern the operation of crypto assets. In general, the underlying protocols are open source, and anyone can use, copy, modify, and distribute them. We are not responsible for the operation of the underlying network protocols, and we make no guarantees regarding their security, functionality, or availability.”
“Crypto asset blockchains may “fork” and we may not support the forked asset promptly or at all;”
“It is the deployment the issuer controls and designates as their official cross-chain version through Wormhole's NTT framework, not a bridge-specific synthetic minted by a third-party custodian.”
“in August 2022, when an additional layer of protection was added when Withum expanded its request to include the same information on outstanding tokens and reserve amounts, but for an additional random day from that same month – the random day being different each month.”
“In that regard, Withum performs specific month-end attestation procedures on these accounts in accordance with standards established by the AICPA. These monthly attestation reports can be found on the Paxos website.”
“Withum also discloses that its standards are in accordance with the explicit standards of the American Institute of Certified Public Accountants ( AICPA ).”
“Withum takes those management attestations at face value, so the result is not called an audit.”
“Withum states in the attestation, “Our responsibility is to express an opinion on management’s assertions based on our examination.””
“Paxos’s AML program will be subject to independent testing through an annual, independent AML audit. The audit will be conducted by an independent third party with working knowledge of AML requirements, or by Paxos personnel with working knowledge of AML requirements, none of whom work for or with the Compliance Officer.”
“© 2026 Paxos Trust Company, N.A. All Rights Reserved.”
“PAX Gold is issued by Paxos Trust Company, a financial institution regulated by the NYDFS. The NYDFS also regulates Paxos’ individual products, ensuring greater customer protections and higher standards of operation. The NYDFS has specifically approved PAX Gold as an authorized and regulated Paxos product.”
Paxos reached a $26.5 million NYDFS agreement on August 7, 2025, over historical Binance-related compliance matters. Paxos said those matters affected no customer accounts and caused no consumer harm.
“In early 2023 after receiving an order to cease minting the token”
“Paxos, the leading regulated blockchain & tokenization infrastructure platform, today announced that it received a formal termination notice from the SEC on July 9, 2024, stating that it will not recommend enforcement action against Paxos Trust Company in the investigation of Binance USD (BUSD).”
“Paxos has reached an agreement with the NYDFS in response to historical compliance matters including the prior partnership with Binance.”
“This agreement includes a $26.5M monetary penalty.”
“STATEMENT FROM PAXOS IN RESPONSE TO THE NYDFS, ATTRIBUTED TO PAXOS SPOKESPERSON AUGUST 7, 2025”
“These matters had no impact on customer accounts and there was no consumer harm.”
“No other blockchain and tokenization platform has shown more dedication to seeking oversight and complying with global institutional standards as Paxos has done for over a decade”
“STATEMENT FROM PAXOS IN RESPONSE TO THE NYDFS, ATTRIBUTED TO PAXOS SPOKESPERSON AUGUST 7, 2025”
“Provided a purchase request was made by 5:00 p.m. EST and has passed the necessary compliance checks, your PAXG tokens will be delivered the next business day following a purchase request.”
“You must redeem a minimum of 430 PAXG tokens plus the fee set forth in the Paxos User Guide, per London Good Delivery gold bar.”
“Paxos is not responsible for any losses associated with any default by a Clearing Bank, or any unavailability of your unallocated balance, either temporarily or permanently, due to non-performance of the Clearing Bank for any reason, including but not limited to, insolvency, default, or operational error.”
“Paxos will make commercially reasonable efforts to convert and/or redeem your PAXG quickly. It may take up to several business days for your Account balance to reflect the conversion or redemption, depending on your method of conversion or redemption.”
Turnaround is undisclosed.
“In creating an Account, you will be asked to provide certain registration details and information about you (including, but not limited to, your name, address, date of birth, tax identification number and other information about your beneficial owners and authorized users to the extent applicable). We may also ask to see your driver’s license or other identifying documents as part of the onboarding process.”
“You hereby authorize us, or a third-party service provider, to take any measures that we consider necessary to verify and authenticate your identity, confirm the information you submit about your bank (or other financial institution) account, and to take any action we deem necessary based on the results.”
“the allocated gold stablecoin managed by Paxos (“PAX Gold”)”
“Paxos is not responsible for any losses associated with any default by a Clearing Bank, or any unavailability of your unallocated balance, either temporarily or permanently, due to non-performance of the Clearing Bank for any reason, including but not limited to, insolvency, default, or operational error.”
“the price and liquidity of crypto assets has been subject to large fluctuations in the past and may be subject to large fluctuations in the future;”
“Purchases and sales of PAX Gold (PAXG) are only available during London gold market hours on paxos.com (open from Sunday 6pm ET through Friday 5pm ET; closed weekdays from 5-6pm ET and applicable gold market holidays).”
“When markets are closed, orders cannot be placed on the Paxos platform.”
No numeric PAXG redemption cap is disclosed.
“Purchases and sales of PAX Gold (PAXG) are only available during London gold market hours on paxos.com (open from Sunday 6pm ET through Friday 5pm ET; closed weekdays from 5-6pm ET and applicable gold market holidays).”
“When markets are closed, orders cannot be placed on the Paxos platform.”
Settlement may take several business days.
“You must redeem a minimum of 430 PAXG tokens plus the fee set forth in the Paxos User Guide, per London Good Delivery gold bar.”
“Verified users have the option to redeem the PAXG tokens for physical gold, In order to redeem PAXG into physical Gold, users must submit a redeem request for over 430 PAXG tokens on the Account Page and set up a time for London Good Delivery of the physical gold bars.”
“Paxos will make commercially reasonable efforts to convert and/or redeem your PAXG quickly. It may take up to several business days for your Account balance to reflect the conversion or redemption, depending on your method of conversion or redemption.”
“We reserve the right to change or modify our fee structure or increase any of our fees at any time and from time to time. Any such changes, modifications or increases will be effective upon posting on the Platform, in the Paxos User Guide or an updated Pricing Supplement, subject to any requirement under applicable law to provide additional notice.”
“Paxos may update this Agreement at any time in its sole and absolute discretion by making the revised version available on the Site.”
“Paxos has the ability and the right to freeze and upgrade all PAXG tokens (on an aggregate basis), regardless of where the PAXG is being held.”
“Paxos will only freeze such assets (1) if required to do so by law, specifically when Paxos receives a formal legal directive from a regulator, judicial body, law enforcement agency, or other legal entity having jurisdiction over Paxos, (2) pursuant to a formal notification by a Paxos partner according to previously agreed contractual terms, or (3) as deemed necessary by Paxos in its sole discretion.”
“Paxos froze 11,184.38 PAXG tokens valued at roughly $19 million.”
“Paxos is a top-funded fintech company with more than $540 million raised from leading investors including Oak HC/FT, Declaration Partners, Founders Fund, Mithril Capital and PayPal Ventures.”
“PAX Gold is a digital asset where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vaults in London.”
“PAXG is backed by one fine troy ounce of gold, stored in LBMA vaults”
“Paxos Trust Company has engaged Withum, a nationally top-ranking auditing firm, to independently verify at month end that the entire supply of PAX Gold tokens corresponds 1:1 with ounces of London Good Delivery gold held in vaults.”
The latest supplied description was assessed on 2026-08-07; no residual reserve category is disclosed.
“PAX Gold is a digital asset where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vaults in London.”
“Paxos Trust Company has engaged Withum, a nationally top-ranking auditing firm, to independently verify at month end that the entire supply of PAX Gold tokens corresponds 1:1 with ounces of London Good Delivery gold held in vaults.”
“Because PAX Gold represents physical gold, its value is tied directly to the real-time market value of gold.”
“PAXG is backed by one fine troy ounce of gold, stored in LBMA vaults”
“Paxos will evaluate all forks and make a determination, based on a number of factors, to support PAXG on one, and only one, of the Forks. Paxos will continue to provide Services for, support and hold US dollars against, PAXG held on the supported Fork only.”
“You must redeem a minimum of 430 PAXG tokens plus the fee set forth in the Paxos User Guide, per London Good Delivery gold bar.”
“© 2026 Paxos Trust Company, N.A. All Rights Reserved.”
“Last Modified: June 30, 2026”
“Terms Paxos Gold Whitepaper”
“You must redeem a minimum of 430 PAXG tokens plus the fee set forth in the Paxos User Guide, per London Good Delivery gold bar.”
“Verified users have the option to redeem the PAXG tokens for physical gold, In order to redeem PAXG into physical Gold, users must submit a redeem request for over 430 PAXG tokens on the Account Page and set up a time for London Good Delivery of the physical gold bars.”
“Through Paxos.com, customers can redeem full-sized London Good Delivery gold bars. Through a network of gold retailers, they can convert smaller amounts to physical gold all over the world.”
“Paxos will make commercially reasonable efforts to convert and/or redeem your PAXG quickly. It may take up to several business days for your Account balance to reflect the conversion or redemption, depending on your method of conversion or redemption.”
“Through Paxos.com, customers can redeem full-sized London Good Delivery gold bars. Through a network of gold retailers, they can convert smaller amounts to physical gold all over the world.”
“You must redeem a minimum of 430 PAXG tokens plus the fee set forth in the Paxos User Guide, per London Good Delivery gold bar.”
“Verified users have the option to redeem the PAXG tokens for physical gold, In order to redeem PAXG into physical Gold, users must submit a redeem request for over 430 PAXG tokens on the Account Page and set up a time for London Good Delivery of the physical gold bars.”
“For transactions that occur on-chain (transferred via Ethereum), there is a low Paxos transaction fee (0.02%) as well as the usual Ethereum gas fees (typically a few cents).”
“PAX Gold is a digital asset where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vaults in London.”
“PAX Gold is backed by physical gold and is allocated down to the serial number of each individual bar.”
“Through Paxos.com, customers can redeem full-sized London Good Delivery gold bars. Through a network of gold retailers, they can convert smaller amounts to physical gold all over the world.”
Users arrange London delivery. Paxos does not disclose standard timing, caps, or gates.
“Verified users have the option to redeem the PAXG tokens for physical gold, In order to redeem PAXG into physical Gold, users must submit a redeem request for over 430 PAXG tokens on the Account Page and set up a time for London Good Delivery of the physical gold bars.”
“You must redeem a minimum of 430 PAXG tokens plus the fee set forth in the Paxos User Guide, per London Good Delivery gold bar.”
“Through Paxos.com, customers can redeem full-sized London Good Delivery gold bars. Through a network of gold retailers, they can convert smaller amounts to physical gold all over the world.”
“If customers hold more than 430 oz in PAX Gold, they can redeem their tokens for a physical gold bar.”
“Last Modified: June 30, 2026”
“Given that PAX Gold has a very low investment minimum (0.01 PAXG or ~$15), fractional bar ownership is now possible for retail customers unlike ever before.”
Issuer entity 9b286ea0-b20b-4efd-bf84-24b83fb9bb44 · last updated 2026-08-09T19:43:42.491Z
Underlying issuer entity 2ca048ae-4d9e-41d6-8adb-e810de6bf1cd · last updated 2026-08-07T14:18:47.551Z
0 source channels auto-trusted this run (revocable in Autoresearch)
ingest · ingest · ok
plan · plan · ok
synthesize · synthesize · ok
37 of 44 fields verified · 0 unverified · 0 not found
Run 2026-08-09T19:43:42.567Z · done · cost $0.00
Automated research, human-reviewed. Verify against source documents before credit decisions.