PAX Gold to Be Integrated With Alchemy Pay

Alchemy Pay has integrated Pax Gold (PAXG) into its fiat-to-crypto ramp, enabling users to buy and sell PAXG—an asset backed 1:1 by physical gold—using local fiat payment methods. This development makes fractional gold ownership more accessible to the general public and expands the utility of Alchemy Pay’s ramp infrastructure.

PAXG Info

PAX Gold (PAXG) is an ERC-20 stablecoin anchored by physical gold reserves. Running on the Ethereum blockchain, it is managed and custodied by the Paxos Trust Company, under the regulatory oversight of the New York State Department of Financial Services. PAXG offers a digital alternative to traditional gold investments, allowing users to engage with gold assets in the decentralized finance space.

Each PAXG token is representative of one troy ounce of a 400-ounce London Good Delivery gold bar, secured in renowned vaults like Brink’s. To maintain transparency and trust, third-party audits are conducted monthly to ensure the equivalence of Paxos' gold holdings and the circulating PAXG supply. The findings from these audits are openly published on Paxos’ official website. Additionally, the PAXG infrastructure undergoes regular audits to ensure the robustness and security of its smart contracts.

Beyond its representational value in gold, PAXG as an ERC-20 token boasts compatibility with Ethereum wallets, DeFi platforms, and DEXs. Unlike traditional gold holdings, PAXG ownership omits the need for storage or custody fees, charging users only a minimal transaction fee and Ethereum gas costs. Each token bears a serial number linked to a specific gold bar, and this data can be accessed using the PAXG lookup tool. For flexibility, holders can convert their PAXG into fiat, other crypto assets, or even physical gold at prevailing market rates.