What is PAX Gold (PAXG)?

PAX Gold (PAXG) is an ERC-20 stablecoin created to help investors maintain the benefits of purchasing gold without the drawbacks of the traditional gold investment process. Each PAX Gold asset is pegged on a 1:1 ratio to one troy ounce (t oz) of a 400-ounce London Good Delivery gold bar that is stored in Brinks Security vaults in London. PAX Gold is backed by proven London Bullion Market Association-accredited (LBMA) gold bars and fully redeemable for actual, physical gold.