Paxos: Gold-anchored stablecoin PAXG hits new high at $500 million
2024-09-26 03:02:14
Stablecoin issuer paxos platform announced gold anchor stablecoindesk3cryptocurrencydesktopCrypto News
Stablecoin issuer Paxos announced on the X platform that the market value of gold-anchored stablecoin PAXG reached a new high of $500 million. Paxos said that each PAXG token is backed by 1 troy ounce of gold stored in the LBMA vault in London. In addition, the recent spot gold price has been refreshing, yesterday standing at $2,670/ounce, continuing to brush a record high.
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