Start Trading August 26
Starting Wednesday, August 26, PAX Gold will be available for trading on Binance, the world’s leading cryptocurrency exchange. PAX Gold (ticker symbol PAXG) is now listed on Binance and will be traded against BUSD, BTC, and BNB. PAX Gold is the only regulated digital gold token available for trading on Binance.
The price of gold market has reached new highs this year and today it trades at nearly $2,000 per fine troy ounce. While its trading volume exceeded $174 billion on a daily basis in July, high-quality physical gold is often only available to large institutional investors. We believe PAX Gold solves the fundamental contradiction in the gold market: it’s nearly impossible to own allocated, physical gold that is also easy to trade, divide, move and leverage. PAX Gold is the safest and easiest way for anyone to both own and trade the highest quality gold. Built on the Ethereum blockchain, PAX Gold is a digital token that allows investors to get as little as $1 of the highest-quality investment grade gold. When you own PAX Gold, you own the underlying gold bars stored in the most secure vaults in London.
Rich Teo, Paxos Co-Founder and CEO Asia, commented, “We created PAX Gold so that anyone can get real, investment-grade gold. It is the safest and easiest way to get the finest physical gold. We’re thrilled that Binance sees the growing market demand for PAX Gold and will offer their users an easy and safe opportunity to gain exposure to real, regulated gold.”
CZ (Changpeng Zhao), Binance CEO, added, “Gold is an asset that has had enduring value from generation to generation. With PAX Gold now on Binance, investors can easily get and trade gold with the click of a button.”
Binance users will be able to trade PAX Gold against BTC, BUSD, and BNB starting on Wednesday, August 26 at 8 AM ET.