Becomes the First Regulated Gold-Backed Token Available on a Native Indian Exchange
PAX Gold (PAXG) launched in 2019 as the first and only regulated gold-backed digital asset. It continues to break records and has expanded its leadership position as the largest, most liquid gold-backed digital token. Earlier this month, PAXG surpassed 125,000 tokens and reached a total market capitalization of nearly a quarter-billion dollars. That represents a more than 400% increase in total token supply in only a year’s time. This remarkable growth is just beginning for PAXG.
When you own PAXG, you own real, physical gold. But unlike physical gold, PAXG also has the flexibility and accessibility of crypto with the benefits of allocated physical gold secured in vaults without storage fees. Additionally, clients are able to put their gold to work. Through our ecosystem partners, like BlockFi, Celsius and others, you can earn interest on PAXG. And you can easily trade it against Bitcoin (BTC), Ethereum (ETH) and others on venues like Binance, Kraken and Gemini.
We’re constantly assessing new use cases for PAXG and avenues that will allow more people to get this asset. We’re excited that PAXG is now available to customers on a native Indian exchange. India is home to one of the world’s largest retail gold markets and now the country’s top exchange Wazirx offers customers the ability to trade PAXG against INR and USDT. Check out the YouTube AMA session we did earlier this week below.
Innovative technologies continue to change global financial markets. Despite the rapid pace of change, gold remains a trusted investment and store of value for investors in every country. PAXG is simply the easiest, fastest and cheapest way to get the highest quality physical gold. Our accelerating growth speaks to the demand for the highest-quality gold. The $240 million mark is an important milestone on our journey to build a token based financial system.