A year ago, the New York Department of Financial Services (NYDFS) approved the only regulated gold-backed digital asset – PAX Gold. Today, we’re excited to celebrate a year of growth of PAX Gold – along with the announcement that it is now available on Gemini!
PAX Gold is unlike anything available today and its growth demonstrates demand from both retail and institutional investors. Take a look at where we are after only a year:
- 78 LBMA gold bars back the entire 30,000+ supply of PAX Gold tokens, equalling nearly $60 million in market cap. Those gold bars sit in the most secure vaults in London.
- In 2020 alone, the total supply of PAX Gold has more than tripled.
- In July and August of this year, we’ve seen a 25% increase in the number of Paxos customers creating PAX Gold.
- On-chain transfers continue to grow as our ecosystem expands – they’ve increased 2.5x in the last month alone.
- PAX Gold is available on more than 30 vaults, exchanges, wallets and lending platforms
Today, we’re proud to announce that PAX Gold is now available on Gemini. Gemini is a trusted and easy-to-use crypto exchange. It joins Binance, Kraken, FTX and itBit in listing PAX Gold. Gemini users can deposit US Dollars, Hong Kong Dollars, Australian Dollars and Canadian Dollars to purchase PAX Gold today and can begin trading the asset against BTC and ETH on September 15.
PAX Gold has the flexibility and accessibility of crypto assets, while representing physical, secure, vaulted gold–without storage fees. We created PAX Gold so that anyone can get the highest-quality physical gold. We’ve built the only regulated asset that makes it easy for anyone to get the highest-quality gold in the world. Because the PAX Gold ecosystem has expanded, it is easier than ever to get tokenized gold. The future is an economy that is 24×7, global and instantaneous– PAX Gold will only become more instrumental to our system and we’re proud of the progress we’ve made so far.