Paxos Launches Gold-Backed Token That Earns in Gold Terms
Paxos Labs has launched PAXGy, a gold-backed token that accrues value denominated in Troy ounces. Built on the federally regulated PAX Gold (PAXG), which is fully backed by investment-grade gold stored in LBMA vaults and audited by KPMG, PAXGy allows holders to deposit or swap stablecoins for tokens that grow over time through institutional gold leasing markets. The token leverages a multi-billion-dollar bullion lending market typically accessible only to institutions. By pooling smaller holdings into larger positions, individual investors can now participate in this traditional finance mechanism and earn returns on their gold reserves without selling them. PAXGy is available via OKX as the sole centralized exchange listing at launch and across decentralized platforms like X Layer, 0x, Uniswap, and Ether.Fi. Paxos aims to democratize access to a market where central banks and bullion institutions have long earned returns by lending gold. The token’s design allows holders to redeem their PAXGy for more ounces of PAXG over time, effectively making gold work like capital while preserving its value as one of the oldest store-of-value assets in existence.
Topics: blockchain digital assets gold PAXGy tokenization