Paxos Gold Token Backed by Physical Gold TVL Surpasses $500 Million

BlockBeats news, October 1, according to TheBlock, Paxos Gold is an RWA crypto token backed by physical gold. Each PAXG token represents one ounce of high-quality London Good Delivery gold stored in a professional vault facility. The token combines the stability of gold with the flexibility and accessibility of Blockchain technology. Users can redeem their tokens for physical gold or trade them on various cryptocurrency trading platforms.

Paxos Gold's total locked value (TVL) recently broke the $500 million mark and currently stands at $508 million.