Paxos: Gold-Anchored Stablecoin PAXG Reaches Record High Market Cap of $500 Million
Stablecoin issuer Paxos recently said in an X post on Sept. 26 that the market value of its gold-anchored stablecoin PAXG reached a record high of $500 million.
Each PAXG token is backed by an ounce of troy gold, which is held in the vaults of the London Gold Exchange's LBMA, Paxos said.
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