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PAX Gold (PAXG) is an ERC-20 token that lets you take fractional ownership of a real world gold bar.
Every PAXG token corresponds to one troy ounce (slightly heavier than a regular ounce) of gold bullion being held in secure vaults by Brink’s, an internationally recognised specialist in the storage and transfer of precious metals. The token provides ownership rights to the corresponding amount of gold and can be redeemed for actual gold bullion bars.
As PAXG represents gold itself, its value is tied to the real-time market value of physical gold.
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