PAX Gold (PAXG) Exchange
Looking to exchange PAXG? Swapzone compares live offers from partner exchanges by rate, speed and KYC label. No account, no custody, 0% platform fee. PAXG exists on Ethereum (ERC-20) and Solana (SPL).
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What is PAXG?
About PAX Gold
PAXG (PAX Gold) is a gold-backed cryptocurrency issued by Paxos Trust Company, N.A., which has operated as a national trust bank under direct federal supervision of the OCC since 12 December 2025; from 2015 until then its regulator was the NYDFS. Launched in September 2019, each PAXG token represents direct ownership of one fine troy ounce of London Good Delivery gold stored in Brink's vaults in London. Every token is linked to a specific allocated gold bar with a unique serial number, weight, and purity, verifiable through the Paxos platform. PAXG is an ERC-20 token on Ethereum and was also deployed on Solana in June 2026, expanding its DeFi and payment utility to a lower-fee, faster-settlement environment. Paxos was co-founded by Charles Cascarilla and is the same regulated entity that previously issued BUSD (Paxos stopped minting it in 2023) and USDP. PAXG's US federally supervised issuer differs from Tether Gold (XAUT), which is issued by TG Commodities, S.A. de C.V. in El Salvador.
PAXG supply and backing
PAXG tracks the spot price of gold, not a fixed dollar value. The token's supply expands when new gold is deposited into Paxos custody and contracts when holders redeem tokens for physical gold or fiat. There is no maximum supply cap: supply equals the number of troy ounces held in allocated custody at any given time.
Backing — 1:1 to allocated physical gold; London Good Delivery bars stored in Brink's vaults in London; each token maps to a specific bar with traceable serial number
Circulating supply — approximately 439,000 PAXG as of October 2026, according to CoinGecko
Market capitalization — approximately $1.84 billion as of October 2026, second to Tether Gold (XAUT) among gold-backed tokens, according to CoinGecko
Regulation — Paxos Trust Company, N.A. has been a national trust bank under direct OCC supervision since 12 December 2025 (the NYDFS regulated the issuer from 2015 until then); monthly attestations verify the 1:1 gold backing
Redemption — holders with 430+ PAXG can redeem directly for full London Good Delivery gold bars from Paxos; smaller amounts can be redeemed through the partners that Paxos lists
Fees — Paxos publishes creation and redemption fees on its PAX Gold fee page (a redemption schedule based on rolling 30-day net redemptions took effect on 1 September 2026); Paxos states that it does not charge gold storage fees at this time
Chains — Ethereum (ERC-20) and Solana (SPL token since June 2026)
What determines PAXG's value
PAXG's price is determined by the spot price of gold. When gold rises, PAXG rises proportionally. When gold falls, PAXG falls. The token does not generate yield or staking rewards: its value proposition is gold exposure with blockchain portability, 24/7 trading, fractional ownership, and DeFi composability as collateral in lending protocols.
PAXG is issued by a US federally supervised trust bank and Paxos publishes monthly reserve attestations, which some institutional and US-based holders look for in a gold token. XAUT, issued by TG Commodities in El Salvador, had a larger market capitalisation than PAXG as of October 2026, according to CoinGecko. Tether Gold's Terms of Service restrict U.S. persons, with an exception for eligible contract participants.
How to Exchange PAX Gold on Swapzone
How to Choose a PAX Gold Exchange
PAX Gold (PAXG) Price Analysis
Frequently Asked Questions About PAX Gold (PAXG)
One PAXG represents direct ownership of one fine troy ounce of London Good Delivery gold stored in Brink's vaults in London. Each token is linked to a specific allocated gold bar with a unique serial number, weight, and purity, verifiable through the Paxos platform.
Paxos Trust Company, N.A. has operated as a national trust bank under direct federal supervision of the OCC (Office of the Comptroller of the Currency) since 12 December 2025. From 2015 until then the issuer was regulated by the NYDFS. Paxos publishes monthly attestations of the 1:1 gold backing.
Both are gold-backed tokens, but PAXG's issuer is a US federally supervised trust bank, while XAUT is issued by TG Commodities in El Salvador and had a larger market capitalisation as of October 2026, according to CoinGecko. Tether Gold's Terms of Service restrict U.S. persons, with an exception for eligible contract participants; check each issuer's terms for who can buy or redeem.
No. Supply equals the troy ounces held in allocated custody: it grows when new gold is deposited and shrinks when tokens are redeemed for physical gold or fiat. About 439,000 PAXG were circulating as of October 2026, according to CoinGecko.
Holders with 430 or more PAXG can redeem directly for full London Good Delivery bars from Paxos. Smaller amounts can be redeemed through the partners that Paxos lists.
Paxos states that it does not charge gold storage fees at this time, and holding PAXG on the blockchain or in a self-custody wallet carries no inactivity fee. If you hold assets in a verified account on the Paxos platform, Paxos charges an inactivity fee of $2 per month after 12 months or more without purchase or redemption activity, according to its terms. It publishes creation and redemption fees on its PAX Gold fee page, and a redemption schedule based on rolling 30-day net redemptions took effect on 1 September 2026, so check that page before creating or redeeming PAXG.
No. PAXG does not generate yield or staking rewards. Its value follows the gold spot price, and holders gain gold exposure with 24/7 trading, fractional ownership, and use as collateral in lending protocols.
PAXG is backed 1:1 by allocated physical gold, so its price follows the spot price of gold: when gold rises PAXG rises proportionally, and when gold falls PAXG falls. Holding PAXG carries gold price risk, which can be large.
Paxos is the same regulated entity that previously issued BUSD, which Paxos stopped minting in 2023, and USDP. PAXG launched in September 2019.
Open swapzone.io/exchange/pax-gold, enter the amount, and compare offers. Paste a wallet address for the chain you choose (Ethereum or Solana), send PAXG to the deposit address, and track the order. No MEMO is required.
Yes, in principle. PAX Gold (PAXG) is an ERC-20 token issued by Paxos Trust Company where each token represents one troy ounce of London Good Delivery gold stored in Brink's vaults in London. Verified institutional customers can redeem PAXG for physical gold delivery or for the fractional value in USD, subject to Paxos's minimum amounts, identity verification requirements, and applicable fees. Retail holders typically realize value by selling PAXG on exchanges rather than through physical redemption. The gold backing is audited by Withum on a monthly basis.
PAXG gives on-chain exposure to the price of one troy ounce of gold, but it is not the same as holding a gold coin or bar directly. Key differences: PAXG is held as a smart contract on Ethereum and requires ETH for gas to move, while physical gold requires secure storage but has no operational dependency. PAXG is issued by a US-regulated company (Paxos Trust Company, NYDFS-licensed) with audited reserves, which is a different risk structure from holding a gold ETF or futures. PAXG is not insured by any government deposit scheme.
PAXG is listed on Binance, Kraken, Coinbase, and other major centralized exchanges, all of which require account registration. On Swapzone, you can swap PAXG for other cryptocurrencies through instant exchange partners without creating an account. Because PAXG's value equals approximately the gold spot price (about $4,000 per token as of October 2026, according to CoinGecko), partner availability may be more selective than for lower-value assets. Check live offers on the page for current availability.
To convert PAXG to physical gold, you need to go through Paxos directly with identity verification and meet minimum requirements. To convert PAXG to another cryptocurrency, use Swapzone: select PAXG as the sending asset, compare partner offers, provide your receiving wallet address, and send PAXG from your Ethereum wallet. PAXG is an ERC-20 token so ETH is required for gas. Swapzone charges a 0% platform fee.
Both PAXG and XAUt represent one troy ounce of physical gold per token on Ethereum. The key difference is the issuer and custody structure. PAXG is issued by Paxos Trust Company, regulated by the New York Department of Financial Services, with gold stored in Brink's vaults in London and monthly attestations by Withum. XAUt is issued by Tether Limited, a British Virgin Islands company, with gold stored in a Swiss vault and quarterly attestations. Paxos is a US-regulated trust company with explicit NYDFS oversight, while Tether operates under lighter regulatory scrutiny. For swapping on Swapzone, both tokens behave identically as gold-price-tracking ERC-20 assets.
Why Exchange PAX Gold with Swapzone?
24/7 live chat support at every stage of your PAXG swap.
Non-custodial aggregator: you send PAXG to the partner's deposit address and receive funds in your own wallet, never through Swapzone.
Live PAXG offers from exchange partners side by side.
Swap PAXG with 1,600+ cryptocurrencies.
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