Paxos Labs Launches PAXGy to Democratize Gold Lending
- Paxos Labs launched PAXGy on Sept. 24, aiming to open access to the gold-lending market.
- Approximately $530 billion of gold is held in ETFs that charge fees but do not generate income.
- PAXGy is available on platforms including OKX, Uniswap, X Layer, and more are expected.
- Gold lending has been quoted daily for fifty years but was largely inaccessible to most owners until now.
- The token allows holders exposure to institutional gold leasing markets without high barriers.
Paxos Labs’ new token, PAXGy, provides a novel way for investors to engage with the gold-lending market traditionally reserved for institutions. This move could potentially lower entry barriers and democratize access to this financial sector.
With $530 billion in non-income generating gold ETFs, PAXGy offers an alternative by linking token value growth directly to institutional lending returns rather than traditional fees or cryptocurrencies.(Source)
