Key Highlights
- Paxos launched its tokenized gold asset PAXG on the Solana blockchain.
- Each PAXG token represents one fine troy ounce of physical gold.
- Gold reserves are stored in LBMA-accredited London vaults with regular audits.
Paxos, a digital asset infrastructure platform, has announced the launch of its flagship tokenized gold product, PAXG, on the Solana blockchain, marking the first phase of its multi-chain expansion strategy.
In a detailed X post on Thursday, the firm stated that PAXG, originally launched on Ethereum in 2019, represents one fine troy ounce of physical gold per token. The gold is stored in LBMA-accredited vaults in London, with reserves subject to monthly attestations by KPMG and annual physical audits by Bureau Veritas.
Issued by Paxos Trust Company, a national trust bank regulated by the Office of the Comptroller of the Currency (OCC), PAXG offers investors direct exposure to gold without the traditional burdens of storage, custody, and insurance. “Paxos built PAXG to remove the operational overhead of holding gold,” the company stated. “Storage, custody, and transfer are handled at the token level, backed 1:1 with the world’s finest gold and overseen by federal regulators.”
Why Paxos chose Solana
Paxos noted that PAXG has experienced significant growth, rising over 300% since 2024 amid gold’s strongest bull cycle in two decades. As investors seek alternatives to physical bullion and ETFs, tokenized gold has gained traction due to its lower costs, near-instant settlement, and seamless transferability.
The expansion to Solana comes as the network’s real-world asset (RWA) sector has surged, with total value locked crossing $2.5 billion in May 2026, up from $215 million a year earlier. Paxos is partnering with Sunrise DeFi to integrate PAXG natively into Solana’s DeFi ecosystem, enabling liquidity on major DEXs and seamless wallet support.
What Paxos did to enable the launch
To support the launch, Paxos upgraded its PAXG token contracts on Ethereum to support omnichain functionality across both EVM and non-EVM networks. The upgraded contracts preserve full compliance controls, supply verification for attestations, and auditability. They are open-source and independently audited by Zellic.
On Solana, PAXG is implemented using the Token-2022 standard, the same extended token program used for Paxos’ PYUSD and USDG stablecoins. This allows native compliance features at the token level, including a permanent delegate extension to maintain regulatory standards equivalent to the Ethereum version.
Existing Ethereum PAXG holders can bridge their tokens directly through the Paxos platform or via LayerZero Stargate without needing to sell or re-custody their assets. No new attestations are required.
What it brings to users
- Zero custody fees — Unlike gold ETFs that charge 10–40 basis points annually.
- Instant on-chain settlement — Compared to T+1 or T+2 for conventional markets.
- Physical redeemability — Holders can redeem for LBMA Good Delivery bars (minimum 430 PAXG), unallocated gold, or USD.
- Full transparency—Monthly attestations, bar-serial tracking via Paxos’ Gold Allocation Lookup tool, and no minimum investment thresholds or accredited investor requirements.
Every PAXG token is created only after physical gold is purchased and vaulted, ensuring 1:1 backing at all times.
Expanding crypto offerings
Earlier this month, Paxos partnered with House of Doge, the corporate arm of the Dogecoin Foundation, to integrate Dogecoin (DOGE) into its regulated brokerage and custody infrastructure.
The collaboration builds on Paxos’ recent multi-chain expansion, including today’s launch of tokenized gold PAXG on Solana, strengthening its position as a leading provider of compliant digital asset solutions. The integration will allow enterprise clients to offer DOGE alongside Bitcoin, Ethereum, and tokenized assets like PAXG and PYUSD.
Institutional adoption remains key
While Paxos’ launch of PAXG on Solana expands access to regulated tokenized real-world assets, challenges remain. Tokenized gold products face risks including gold price volatility, potential regulatory tightening, smart contract vulnerabilities, and competition from other tokenized asset providers. Bridging between chains also introduces technical and custody complexities.
The product’s long-term adoption will likely depend on institutional demand and the evolution of regulatory frameworks for digital assets.
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