Coinbase Lists Gold-Pegged Stablecoin PAXG

Coinbase Considers Listing Gold-Backed Stablecoin PAXG

• Coinbase, the largest US crypto exchange, may list PAX Gold (PAXG) on its platform.
• PAXG is an Ethereum-based token backed by one fine troy ounce of physical gold.
• The gold backing PAXG is stored in LBMA vaults in London and audited monthly.
• Paxos Trust Company issues and holds custody of the physical gold for PAXG.
• Tether also offers a gold-backed stablecoin, Tether Gold (XAUT), with $770 million in reserves.

Coinbase has added PAX Gold to its listing roadmap, indicating potential future availability. Each PAXG token represents ownership of physical gold stored in London vaults. Tether’s XAUT similarly represents direct ownership of gold bars held in Swiss vaults.