Pax Gold

Pax Gold (PAXG) is a digital asset where 1 token is backed by 1 fine troy ounce of gold (TOZ), stored in LBMA vaults in London. PAXG can be purchased with or redeemed 1-to-1 for loco London gold.

PAX Gold is an ERC-20 token on the Ethereum blockchain issued by Paxos.

PAX Gold is issued by Paxos Trust Company, a financial institution regulated by the NYDFS. The NYDFS
has specifically approved PAX Gold as an authorized and regulated Paxos product.

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

PAXG tokens are created and destroyed by Paxos as needed. Paxos account holders can convert PAX Gold into U.S. Dollars or unallocated gold in a Loco London unallocated gold account, and vice versa. If customers hold more than 430 oz in PAX Gold, they can redeem their tokens for a physical gold bar.

The Company purchases their gold from INTL FCStone, Ltd., a company registered in England and Wales.
London Good Delivery bars are governed and defined by the London Bullion Market Association (LBMA), a precious metals bullion trade association. The London Good Delivery gold bars are stored with Brink’s Global Services Ltd., Hongkong and Shanghai Banking Corporation (HSBC), and Industrial and Commercial Bank of China Ltd (ICBC) Standard Bank, all of which are LBMA approved vaults