Paxos Labs Launches Gold Token That Can Earn A Return In Gold

Paxos Labs has launched PAXGy, a token backed by PAXG that can increase in value relative to gold over time. The underlying reserves are deployed to vetted institutional borrowers through the gold-leasing market. PAXGy is live across platforms including OKX, X Layer, Uniswap, 0x and Ether.Fi, but the return is not guaranteed. **ID:** N25-09 **Site:** NewsBTC **Status:** READY **Author:** NewsBTC Editorial Team **Focus Keyword:** Paxos **Image Keyword:** Gold **Category:** Altcoins **Tags:** Paxos, PAXG, PAXGy, Gold, Tokenization **Primary Source:** https://www.paxos.com/blog The Token Balance Stays The Same While Its Gold Value Can Grow PAXGy is backed by PAXG. Each PAXG represents physical gold held in institutional custody, with the underlying reserves subject to regular attestation. PAXGy adds another layer. Paxos Labs says holders can deposit PAXG or swap supported stablecoins for PAXGy. The reserves backing PAXGy can then be lent to vetted institutional borrowers in the bullion market. When those strategies generate a return, that value accrues through the PAXGy exchange rate. The holder’s number of tokens does not have to increase. Instead, each PAXGy can become redeemable fo...