PAX Gold 

PAXG Price

What is the PAX Gold (PAXG) token?

PAX Gold (PAXG) gives crypto holders on-chain exposure to physical gold: each PAXG token represents one fine troy ounce of an LBMA-accredited London Good Delivery bar stored in allocated vaults in London. Paxos Trust Company issues the token, and PAXG launched on September 5, 2019 with NYDFS approval. Holders can verify the serial number, weight and vault of the bar behind their tokens, and PAXG is redeemable for physical gold or USD at market prices. Per DropsTab data, PAXG is classified under Gold and Backed Tokens and runs as an ERC-20 contract on Ethereum.

Is PAXG backed by real gold?

Yes. Each PAXG token is backed 1:1 by one fine troy ounce of an LBMA-accredited London Good Delivery bar held in allocated custody in London. Paxos publishes monthly attestation reports covering the gold reserve behind outstanding tokens. A holder can enter any wallet address to verify the serial number, weight and vault location of the bar backing those tokens. Because PAXG is redeemable for the underlying metal, the backing can be verified and enforced through redemption.

Can PAXG be redeemed for physical gold?

Holders redeem PAXG through Paxos, the issuer. Paxos supports redemption for physical LBMA Good Delivery bars, for unallocated Loco London gold (institutional clients), or for USD at market prices. Direct bar redemption carries Paxos redemption fees, while on-chain transfers and storage carry no fees from Paxos. Monthly attestation reports confirm the reserve matches tokens in circulation, so a redemption is always covered by allocated metal.

How does PAXG compare with holding physical gold or XAUUSD?

PAXG tracks the spot gold price (XAUUSD) one-to-one, since each token represents one fine troy ounce of gold. Trading differs: PAXG settles on Ethereum, moves between wallets, and trades around the clock on centralized and decentralized venues. In legal terms, a PAXG holder owns a redeemable claim issued by Paxos; a bullion account holder holds direct allocated title. Per the issuer, PAXG is currently unavailable in the EU.

Is there a maximum supply of PAXG?

PAXG has no fixed maximum supply. Paxos mints new tokens when a customer buys gold and burns tokens on redemption, so the token count rises and falls with customer demand and matches the gold held in custody. There is no emission schedule and no scheduled inflation; supply movement is purely issuance-driven. The live token count for PAXG is displayed on DropsTab.

Does PAXG have a vesting schedule or token unlocks?

No. PAXG has no team or investor allocations, no vesting cliffs and no unlock calendar. Supply changes are mint-and-burn events tied to gold purchases and redemptions, so scheduled-unlock sell pressure, a common risk in venture-backed tokens, does not exist for PAXG. The price risks that remain are gold-price risk plus issuer and custody risk concentrated at Paxos.

Did PAXG run a token sale or raise funding?

No. PAXG had no ICO, IDO or fundraising round; tokens enter circulation only through direct issuance when a customer buys gold. DropsTab records no fundraising rounds for the token. Paxos Trust Company, the issuer, is a privately held VC-backed company, but its company-level rounds are separate from PAXG. The relevant concentration risk is Paxos as sole issuer and custodian of the backing gold.

Does PAXG offer staking or yield?

PAXG pays no staking rewards and has no native yield mechanism; the token's value tracks gold only. Paxos charges no storage fees and no on-chain transfer fees. Yield is available only through third-party venues that lend against PAXG or pay interest on PAXG deposits. Those returns are venue-specific and carry the counterparty risk of the lending venue itself.

Which exchanges list PAXG?

Per DropsTab data, PAXG trades across more than 100 markets. Spot pairs run on Binance, Kraken, Coinbase, OKX, KuCoin and Bitget, quoted against USD, USDT, USDC, BTC, ETH and local currencies such as TRY and KRW. Perpetual futures trade on over a dozen venues, including Binance Futures, Bybit, Kraken Futures and Hyperliquid. DEX liquidity sits on Uniswap, PancakeSwap and Sushiswap, including gold-to-gold pairs such as PAXG/XAUt.

How does PAXG differ from Tether Gold (XAUT)?

Both tokens represent one troy ounce of physical gold, and both are ERC-20 assets on Ethereum. PAXG is issued by Paxos Trust Company; Tether Gold (XAUT) is issued by Tether. DropsTab tracks direct PAXG/XAUT swap pools on Uniswap, so holders can exchange the two gold tokens directly. Redemption processes and fee schedules differ between the two issuers.