🇸🇦 العربية 🇩🇪 Deutsch 🇬🇷 Ελληνικά 🇺🇸 English 🇪🇸 Español 🇫🇮 Suomi 🇫🇷 Français 🇮🇳 हिन्दी 🇮🇹 Italiano 🇯🇵 日本語 🇰🇷 한국어 🇳🇱 Nederlands 🇳🇴 Norsk 🇵🇱 Polski 🇧🇷 Português 🇷🇺 Русский 🇸🇪 Svenska 🇵🇭 Filipino 🇹🇷 Türkçe 🇻🇳 Tiếng Việt 🇨🇳 中文

What Is PAX Gold?

PAX Gold (ticker PAXG) is a gold-backed token on the Ethereum blockchain. Each PAXG token corresponds to one fine troy ounce of a physical London Good Delivery gold bar stored in LBMA vaults in London. Unlike most crypto assets, PAXG is not a bet on a protocol or a network; it is a digital title to real, allocated gold. Holders get the price exposure and ownership of physical bullion combined with the convenience of an ERC-20 token that can be divided into tiny fractions, moved anywhere in minutes, and used in decentralized finance.

PAXG is issued by Paxos Trust Company, a New York-based financial institution founded in 2012 by Charles Cascarilla and Rich Teo (originally as the itBit exchange). Paxos has operated under a trust charter from the New York State Department of Financial Services (NYDFS) since 2015, which means it is held to banking-style standards for custody, capital, and consumer protection. PAX Gold launched in September 2019 with NYDFS approval, making it one of the first regulated gold-backed tokens. Paxos has since added licensing from the Monetary Authority of Singapore and, in 2025, received approval from the US Office of the Comptroller of the Currency to convert to a federally regulated national trust company.

The backing model is the key difference between PAXG and a typical "paper gold" product. The gold behind PAXG is allocated, meaning specific physical bars are assigned to token holders rather than being an unsecured claim on a dealer's general gold pool. Paxos acts as custodian, and a PAXG holder legally owns the underlying gold. Paxos provides a lookup tool that lets holders see the serial number, weight, and purity details of the gold bars associated with their tokens.

Because every token must be matched by a real ounce in the vault, PAXG's supply is dynamic. Tokens are created when customers buy gold through Paxos and destroyed when gold is redeemed, so the outstanding supply expands and contracts with demand rather than following a fixed schedule. To prove the backing, Paxos publishes monthly attestation reports prepared by an independent accounting firm under AICPA attestation standards; reports were issued by WithumSmith+Brown until early 2025 and by KPMG LLP since February 2025. The reports verify that the total PAXG supply matches the troy ounces of London Good Delivery gold held in custody, and they are published on the Paxos transparency page.

Fees are deliberately light. Paxos charges no storage or custody fees for the vaulted gold, and there is no Paxos fee on on-chain transfers; the token originally carried a small 0.02 percent transfer fee, but Paxos removed it so that PAXG would work smoothly in DeFi protocols, leaving only normal Ethereum gas costs. Paxos does charge small fees when PAXG is created or redeemed through its platform. Holders can redeem tokens for US dollars at the market gold price, for unallocated Loco London gold (an institutional option), or for physical LBMA-accredited Good Delivery bars. Taking delivery of a physical bar requires roughly 430 PAXG, because Good Delivery bars weigh about 370 to 430 troy ounces and cannot be subdivided; smaller holders typically redeem to dollars instead.

The issuer has faced regulatory scrutiny on a separate product. In February 2023, the NYDFS ordered Paxos to stop minting BUSD, the Binance-branded stablecoin Paxos issued, and the SEC sent Paxos a Wells notice suggesting it viewed BUSD as an unregistered security. Paxos wound down BUSD in an orderly fashion, redeeming tokens at face value, and in July 2024 the SEC closed its investigation without recommending any enforcement action. PAX Gold was not part of that dispute and continued operating normally throughout, but the episode is worth knowing as context for the company behind the token.

Getting Started With PAX Gold

Getting started with PAXG means deciding where to buy it and where to hold it:

  1. Step 1: Set up an Ethereum wallet such as MetaMask, or plan to hold PAXG on a regulated exchange account. PAXG is a standard ERC-20 token.
  2. Step 2: Buy PAXG directly from Paxos through its platform, or on a centralized or decentralized exchange. Fractional amounts are supported, so you do not need to buy a whole ounce.
  3. Step 3: Verify the backing if you wish. Paxos publishes monthly attestation reports, and its lookup tool shows the vaulted gold bars allocated to your tokens.
  4. Step 4: Hold, trade, or use PAXG in DeFi. Large holders can redeem through Paxos for dollars, unallocated gold, or physical Good Delivery bars.

How to Get a PAX Gold Wallet?

PAXG is an ERC-20 token on Ethereum, so any wallet that supports Ethereum tokens can hold it.

MetaMask

MetaMask is the most widely used Ethereum browser-extension and mobile wallet. Add the PAXG token contract and you can hold, send, and use PAXG across Ethereum applications.

Mobile Wallets

Mobile wallets with broad ERC-20 support, such as Coinbase Wallet and Trust Wallet, can hold PAXG and display its live value alongside your other tokens.

Hardware Wallets

For larger holdings, a hardware wallet such as a Ledger or Trezor keeps the private keys controlling your PAXG offline. Both can be paired with MetaMask for everyday use, which is a sensible setup for an asset meant to be a long-term store of value.

PAX Gold Resources

How to Buy PAX Gold?

PAXG can be bought directly from the issuer or on the open market.

Directly From Paxos

Customers can create an account with Paxos and buy PAXG at the live gold price, including small fractional amounts. Buying from the issuer also opens the door to redemption: PAXG can later be converted back to dollars, unallocated gold, or, for roughly 430 tokens or more, a physical Good Delivery bar.

Centralized Exchanges

PAXG is listed on major exchanges including Binance, Kraken, KuCoin, Bybit, and Gate, typically traded against USDT or USD. Exchange listings make it easy to move between Bitcoin, stablecoins, and gold exposure without leaving the crypto ecosystem.

Decentralized Exchanges

As an ERC-20 token with no transfer fee, PAXG trades on Ethereum DEXes such as Uniswap and can be used as collateral or liquidity in DeFi protocols. When buying on a DEX, always verify you are trading the genuine Paxos contract.

Latest PAX Gold News

PAXG has benefited from a strong gold market and from Paxos's deepening regulatory footprint. With gold prices around record levels, PAXG's market value has grown to roughly 1.9 billion dollars across about 450,000 tokens outstanding as of mid-2026, making it one of the largest tokenized real-world assets. On the corporate side, Paxos completed the steps to become a federally regulated trust company under the OCC, switched its monthly PAXG attestations to KPMG in 2025, and in 2026 a Paxos subsidiary was registered by the SEC as a clearing agency for securities settlement.

Because the token's supply, the gold price, and fee details change over time, the Paxos website, the PAXG transparency page, and the monthly attestation reports are the best sources for the current state of the token and its backing.