What exactly is PAXG?

[etfs]

PAXG (Pax Gold) is a tokenized version of physical gold issued by Paxos Trust Company.
Each token represents one fine troy ounce of gold stored in LBMA-certified vaults.
Unlike cryptocurrencies backed only by market demand, PAXG is backed 1:1 by real, verifiable gold, giving it both intrinsic value and blockchain-level portability.