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Paxos Gold (PAXG) is a cryptocurrency backed by physical gold. Each PAXG token is backed by a troy ounce of gold stored in secure vaults, offering a digital way to invest in gold.
PAXG works by issuing tokens that are backed by physical gold. PAXG holders can exchange their tokens for real gold or its cash equivalent through Paxos, the token's issuer.
The gold token in this context is Paxos Gold (PAXG). It's designed to reflect the value of physical gold, with each token backed by a troy ounce of gold stored in guarded vaults.
The value of PAXG is maintained at parity with physical gold through gold reserves stored in certified vaults. Paxos performs regular audits to ensure that each PAXG token is properly backed by gold.
