PAX Gold

PAX Gold is an unusual digital asset, in that each token represents a single fine troy ounce (t oz) of real gold in the form of a 400 oz London Good Delivery bar. These bars are stored in Brink's vaults. Thus, the owner of a PAXG token is the owner of the physical gold itself, which is held by Paxos Trust.

The PAXG token is a standard ERC-20 token on the Ethereum chain, and can be redeemed for a real, physical gold bar, or in smaller quantities can be exchanged through certain retailers of gold.