PAX Gold (PAXG) is an ERC-20 stablecoin designed to provide investors with the benefits of purchasing gold while avoiding the drawbacks of traditional gold investment methods. Each PAX Gold asset is pegged at a 1:1 ratio to one troy ounce (t oz) of a 400-ounce London Good Delivery gold bar held in the London vaults of Brinks Security. PAX Gold is backed by London Bullion Market Association (LBMA)-accredited gold bars and is fully redeemable for physical gold.