Home Paxos Brings Tokenized Gold To Solana With PAXG Multi-chain Expansion

Paxos Brings Tokenized Gold To Solana With PAXG Multi-chain Expansion

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Paxos Brings Tokenized Gold To Solana With PAXG Multi-chain Expansion
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Paxos, a digital asset infrastructure provider, has launched its tokenized gold product, PAXG, on the Solana blockchain. This is the first step in its multi-chain expansion plan. Each PAXG token stands for one fine troy ounce of physical gold kept in London vaults, giving investors regulated, blockchain-based access to gold without needing to store or insure it themselves. The move also brings tokenized gold to Solana’s growing real-world asset ecosystem and strengthens Paxos’ reach across different blockchains.

Originally launched on Ethereum in 2019, PAXG is issued by Paxos Trust Company, a regulated trust institution overseen by the U.S. Office of the Comptroller of the Currency (OCC). The underlying gold is held in LBMA-accredited vaults in London and is supported by monthly attestations from KPMG and annual physical audits conducted by Bureau Veritas.

Paxos says demand for tokenized gold has grown a lot as investors look for easier options than physical gold or traditional gold ETFs. The company says PAXG has grown by over 300% since 2024, helped by rising gold prices worldwide. Investors get lower costs, almost instant settlement, and can use or transfer tokenized gold across blockchain apps.

To support the launch on Solana, Paxos upgraded its Ethereum smart contracts so PAXG can work across both EVM and non-EVM networks. Ethereum users can now move their PAXG directly to Solana without selling or giving up control of their gold-backed tokens. On Solana, PAXG uses the Token-2022 standard, which keeps compliance features built into the token.

Paxos is also working with Sunrise DeFi to add PAXG to Solana’s DeFi ecosystem. This lets users get liquidity through major decentralized exchanges and compatible wallets. Holders can redeem their tokens for physical gold, unallocated gold, or U.S. dollars, and benefit from clear reserve reporting and gold bar tracking.

This launch happens as tokenized real-world assets keep growing on blockchains. Even though there are still challenges like changing regulations, smart contract risks, and competition, Paxos believes bringing PAXG to more blockchains will make regulated digital gold available to many more people worldwide.

 

 

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Written by
Kapil Rajyaguru -

Kapil Rajyaguru is a news editor at 3.0 TV with over 15 years of professional writing experience and more than four years dedicated to the cryptoverse.

An engineer by education and a writer by passion, Kapil brings a rare mix of technical insight and storytelling finesse. A firm believer that cryptocurrencies, blockchain and AI are the building blocks of the future, he crafts in-depth news and analysis to educate, empower and prepare the masses for the next frontier of Web3.

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