What is gold in Binance?

PAX Gold (PAXG) is a digital asset issued by Paxos . Each PAXG token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults. Users that own PAXG will also own the underlying physical gold, held in custody by Paxos Trust Company.

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Is Pax gold legit?

Paxos is a trust company and custodian, regulated by the New York State Department of Financial Services . PAXG is also approved and regulated by the DFS and fully-backed by allocated gold held in the most secure, leading vaults in the world.

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