Whitepaper read

PAX Gold

PAXG · PAX Gold

UtilityDigital ownership of physical gold — each token a claim on vaulted bullion.

What it is

PAX Gold is a regulated, gold-backed ERC-20 token issued by Paxos Trust Company, where each token represents ownership of one fine troy ounce of LBMA-accredited London Good Delivery gold held in custody.

Technology & consensus

PAXG is an ERC-20 token (V2 contracts live in Paxos's shared audited token-contract repository, with audits by ChainSecurity, CertiK and Zellic). Paxos centrally mints and burns tokens as gold moves in and out of custody; onchain ownership maps to allocated physical bars, and tokens are redeemable for physical gold or USD.

Token utility

PAXG gives digital, divisible, 24/7-tradable ownership of physical gold: investors use it as a hedge and diversification asset, for onchain collateral and settlement, and can redeem it for allocated gold bars or fiat through Paxos.

Key risks & notes

Research note: full whitepaper fetch was unavailable this session; summary grounded in the official whitepaper page and Paxos's public contract repository surfaced via search. Fully centralized: holders bear Paxos counterparty and custody risk. Exposed to gold price moves, redemption minimums/fees, and regulatory jurisdiction risk despite NYDFS trust-company oversight.

Primary source

Read the official whitepaper →

Research status

Classification: Whitepaper read · Researched 2026-09-15 · Source material: official project documents only.

Machine-readable summary →

👁️ Evidence dossier

Verification classClass BFORA-01 scale — verification, not a quality ranking

Claim type · Direct title (gold) · Forensic review

What does the holder own?

Title, redemption claim, fractional ownership, reserve exposure — or just narrative.

Legal title to 1 fine troy oz of London Good Delivery gold per token, per issuer materials - verified as a terms statement; enforceability in practice unassessed.

high confidence

Verified

Who holds the underlying?

Needs an identifiable custodian or entity — not a wallet address or a label.

Brink's London vaults; allocated metal in a segregated account per issuer materials; custody performance itself not independently tested.

high confidence

Verified

How are reserves checked?

Custodian records → inventory → third-party audit → supply reconciliation.

No attestation report directly inspected; secondary reporting conflicts on KPMG takeover date (Feb 2025 vs Feb 2026); allocation lookup described in issuer materials.

high confidence

Partially verified

How does redemption work?

Eligibility, minimums, fees, KYC, settlement — and what happens to the token.

Fee/minimum figures under reconciliation: current Paxos page shows revised percent-based redemption and in-kind conversion fees effective 2026-09-01; the previously reported 15000 USD flat fee is not on the current schedule.

high confidence

Partially verified

Who is liable if redemption fails?

A legally accountable entity and jurisdiction — not a DAO label.

Paxos Trust Company is the named US trust-company issuer; the reported OCC-approval detail comes from secondary reporting and was not independently confirmed.

high confidence

Verified

❔ UNVERIFIED means not yet researched — not disproven. Rows marked “researched” were investigated and independent evidence was not found. Coverage expands as FORTUNA verifies. Method: FORA-01 Asset Claim Verification Protocol.

❔ Frequently asked questions

What is PAX Gold (PAXG)?

What does the holder own?

Legal title to 1 fine troy oz of London Good Delivery gold per token, per issuer materials - verified as a terms statement; enforceability in practice unassessed.

What is PAX Gold's verification status?

PAX Gold (PAXG) carries verification class B (Class B): a mix of VERIFIED and PARTIALLY VERIFIED with no UNVERIFIED and no CONTRADICTED findings. What would change it: Independent evidence closing the partially verified gaps would move it to Class A.

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