Gold goes onchain: Paxos launches PAXG on Solana.
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Gold goes onchain: Paxos launches PAXG on Solana. The launch enables fast, low-cost access to physically backed gold with native Solana DeFi integrations and compliance. Published 4 hours ago Key Highlights * Paxos launched its tokenized gold asset PAXG on the Solana blockchain. * Each PAXG token represents one fine troy ounce of physical gold. * Gold reserves are stored in LBMA-accredited London vaults with regular audits. Paxos, a digital asset infrastructure platform, has announced the launch of its flagship tokenized gold product, PAXG, on the Solana blockchain, marking the first phase of its multi-chain expansion strategy. In a detailed X post on Thursday, the firm stated that PAXG, originally launched on Ethereum in 2019, represents one fine troy ounce of physical gold per token. The gold is stored in LBMA-accredited vaults in London, with reserves subject to monthly attestations by KPMG and annual physical audits by Bureau Veritas. Issued by Paxos Trust Company, a national trust bank regulated by the Office of the Comptroller of the Currency (OCC), PAXG offers investors direct exposure to gold without the traditional burdens of storage, custody, and insurance. "Paxos built PAXG to remove the operational overhead of holding gold," the company stated. "Storage, custody, and transfer are handled at the token level, backed 1:1 with the world's finest gold and...
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