PAX Gold (PAXG) perpetual market

PAX Gold is a gold-backed digital token issued by Paxos, a regulated financial technology company, that launched in 2019. Each PAXG token represents ownership of one fine troy ounce of physical gold stored in professional vaults in London, allowing holders to own and transfer gold on the Ethereum blockchain without arranging their own storage or custody. Because it is redeemable for allocated gold and its value tracks the gold market, PAXG is used as a way to hold a traditional store of value in tokenized form, and it can be moved, divided and traded like other crypto assets. Paxos publishes attestations of the gold reserves backing the tokens and operates under New York regulatory oversight. PAX Gold is one of the most widely used tokenized-gold products, bridging physical precious metals and digital asset markets.