The CEO of the company assured that this asset will offer users new opportunities to actively participate in the gold market, since each unit will equal one ounce.
Paxos, the New York-based company issuing its own stablecoin, announced the launch of a new token called Pax Gold (PAXG) which would be backed by gold reserves.
According to information published by the company, each PAXG token corresponds to the legal title of a physical gold portion, which would be stored in the Brink vault in the city of London, and has the approval of the New York Department of Financial Services. York.