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TL;DR
PAX Gold (PAXG) is an ERC-20 stablecoin backed by physical gold reserves in secured London vaults. PAXG lowers the entry barrier to gold investment by allowing users to own fractions of physical gold without the burden of storage and transportation fees. Users can trade PAXG as a digital asset on centralized crypto exchanges and DEXs. 
Introduction 
Gold has maintained its status as a valuable commodity for thousands of years. It’s used to make jewelry, store value, and even hedge against inflation. However, buying physical gold can be expensive and cumbersome for the average retail investor. For one, storing gold requires a safe location, such as a bank vault. Moreover, transporting gold from one location to another can be a complex task due to its heavy weight.
Paxos Trust Company aims to address these challenges with PAX Gold (PAXG) — tokenized gold that lives on the blockchain. 
PAX Gold (PAXG) is an ERC-20 stablecoin backed by physical gold reserves, held in custody by the Paxos Trust Company. Each PAX Gold token equals one troy ounce of a 400-ounce London Good Delivery gold bar housed in secured gold vaults, such as Brink’s. Since PAXG represents physical gold, its value is tied directly to the real-time market value of that physical gold.
PAXG is regulated and approved by the New York State Department of Financial Services. To ensure that Paxos maintains its reserves, a third-party auditing firm performs monthly checks to verify that Paxos’ gold reserve matches the supply of PAXG tokens, and these attestation reports are released on Paxos’ official website. PAXG’s developers conduct regular smart contract audits to identify potential bugs and vulnerabilities.
In addition, all Paxos customers’ assets, including PAXG, are protected from bankruptcy and held separately from company assets. 
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What Is PAX Gold (PAXG)?

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