Paxos Launches Gold-Backed Crypto on Ethereum Network

Paxos has launched a gold-backed crypto on the Ethereum network.

Pax Gold (PAXG) entitles holders of the token to a physical bar of gold stored in Brink’s London vault.

Pax Gold has been approved by the New York Department of Financial Services.

Pax Gold has notably been approved by the New York Department of Financial Services. https://www.dfs.ny.gov/reports_and_publications/press_releases/pr1909051

For more details, see CoinDesk’s “Paxos Launches Gold-Backed Cryptocurrency.”