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PAXG to USDT Converter
1 PAXG = 4,020.81 USDT · updated 06:23 UTC
Volume Bubbles Chart (1h)
Each 1-hour candle's volume is signed by its direction (up candles count as net buying, down candles as net selling) and drawn as a bubble at the closing price, green for buying and red for selling. Bubble size and colour intensity show how strong that flow is compared with the last 300 candles: the strongest 30% get full bubbles with their USD value, the rest stay as small dots. Unusually large bubbles flag aggressive buying or selling worth a closer look, often near breakouts, reversals or key levels.Seasonal Chart
Plots one line per calendar year showing the % change since the start of that year, with the current year highlighted against up to four previous years. Lining the years up on the same calendar shows whether the price tends to rise or fall in the same months, helping you spot recurring seasonal patterns. Treat it as context rather than a forecast: past seasonality does not guarantee future moves.PAX Gold Markets
PAX Gold Historical Data
About PAX Gold (PAXG)
PAX Gold is a token that represents physical gold. Each PAXG stands for one fine troy ounce of a London Good Delivery gold bar held in professional vaults in London. Paxos launched it in September 2019 as an Ethereum token, and it is issued by Paxos Trust Company, N.A. Tokens can be divided, so buyers can hold small fractions of an ounce. Because each token is tied to real metal, its price is meant to follow the gold market rather than crypto sentiment. FMchart's PAXG price combines quotes from several exchanges.
How the gold backing works
Paxos holds the gold in custody for token holders, in London vaults accredited by the London Bullion Market Association (LBMA). The gold is allocated, meaning specific bars stand behind the tokens rather than a general claim on a shared pool. Holders can enter a wallet address on the Paxos website to see details of the gold assigned to them. Paxos publishes monthly attestation reports to show that the gold held matches the tokens in circulation.
Creating and redeeming tokens
New tokens are created when gold is added and removed when holders redeem. Approved Paxos customers can exchange PAXG for US dollars at market prices. Some institutional clients can also redeem for unallocated gold in London. Under Paxos's terms, redeeming for a London Good Delivery bar requires at least 430 PAXG plus a fee. The customer arranges delivery through a carrier of their choice. Since September 2026, Paxos redemption fees start at 0.125%. Paxos charges no storage fees and no on-chain transfer fee of its own, although normal blockchain network fees still apply.
Regulation and the issuer
At launch, Paxos called PAXG the first regulated digital gold product, approved by the New York State Department of Financial Services. On December 12, 2025, Paxos completed its conversion to a national trust charter. It now names its issuer and custodian as Paxos Trust Company, N.A., supervised by the US Office of the Comptroller of the Currency. Regulation sets rules for custody and reporting, but it does not remove all risk. Paxos says PAXG is issued by the chartered entity itself.
What moves the price
The main driver is the price of gold itself. Gold reacts to interest rates, the US dollar and demand for safe-haven assets. PAXG can trade slightly above or below spot gold on exchanges, especially when markets are busy or liquidity is thin. Small gaps like these are normal and usually close as approved customers create or redeem tokens. The token is designed to match gold, not to beat it.
Risks of a gold token
Holders rely on Paxos and its vault partners to keep the metal safe and to honor redemptions. Smart contract or blockchain problems could affect transfers. Exchanges may price the token differently from the gold market for short periods. Gold itself can fall in value, so PAXG is not free of price risk even though it is not a speculative crypto asset. Gold ETFs and physical bars offer similar exposure through different structures.
Last reviewed: Oct 8, 2026
PAX Gold (PAXG) FAQ
What is PAX Gold (PAXG)?
PAX Gold is a blockchain token backed by physical gold, issued by Paxos. Each PAXG represents one fine troy ounce of a London Good Delivery bar stored in London vaults. It launched in September 2019 on Ethereum and is issued by Paxos Trust Company, N.A.
Is PAXG backed by real gold?
Yes. Paxos says each token is backed by one fine troy ounce of allocated London Good Delivery gold. Holders can look up the bars assigned to their wallet on the Paxos website, and Paxos publishes monthly attestation reports on its holdings.
Why does the PAXG price follow gold?
PAXG's price tracks gold because one token can be redeemed for one ounce of it. If PAXG trades well above or below the gold price, approved Paxos customers can create or redeem tokens and profit from the gap. That process keeps the two prices close.
How much is one PAXG worth today?
One PAXG costs about $4,014.18 on FMchart's composite price, roughly the value of one troy ounce of gold. About $9.17M of PAXG traded over the last 24 hours across the exchanges in FMchart's composite. Small differences from spot gold are normal and usually short-lived.
How much PAXG is in circulation?
About 446,124 PAXG are in circulation, each matching one ounce of gold in custody. That puts the market cap at about $1.79B, rank 54 by market value. There is no fixed maximum; supply grows when gold is deposited and shrinks when tokens are redeemed.
Can you redeem PAXG for physical gold?
Yes, but a full London Good Delivery bar requires at least 430 PAXG plus fees, under Paxos's terms. Smaller amounts can be redeemed for US dollars. Since September 2026, Paxos redemption fees start at 0.125%, and Paxos does not charge storage fees.
Who regulates PAX Gold?
PAX Gold is issued by Paxos Trust Company, N.A., a national trust bank supervised by the US Office of the Comptroller of the Currency. Paxos completed its conversion to this national charter on December 12, 2025. When PAXG launched in 2019, it was approved by the New York State Department of Financial Services.
When did PAXG set its record price?
PAXG's record price is $5,619.09, set on Jan 28, 2026. Because the token tracks gold, its records usually line up with record gold prices rather than crypto rallies. The Price Statistics panel shows the all-time low and how far today's price is from each extreme.
How closely has PAXG tracked gold over time?
PAXG's monthly and yearly results appear in the Monthly Returns (USD) and Annual Price (USD) Change tables, based on FMchart's composite price history. They mirror the gold price, so swings are usually smaller than for crypto assets. Gold's past does not predict its future.
What are the risks of holding PAXG?
PAXG holders depend on Paxos and its vaults to safeguard the gold and process redemptions. The token can briefly trade away from the gold price on exchanges. Gold prices can also fall, so the value of PAXG is not fixed. Redemption fees and minimums also apply.