Crypto.com: Earn Up to 8% p.a. on PAX Gold (PAXG) Deposits

PAX Gold (PAXG) is an asset-backed digital token where each token represents one fine troy ounce (t oz) of London Good Delivery gold, stored in professional vault facilities in London.

Metadata
Provider: 
PR Newswire
Retrieved on: 
Tuesday, October 15, 2019
Information
Tags: 
Chemical elements, Physical sciences, Precious metals, Chemistry, Units of mass, Troy weight, Ounce, Gold bar, Token, Gold, Gold as an investment
Geotags: 
United Kingdom, England, Hong Kong, Singapore
Organisation: 
CRYPTO.COM
Website: 
https://crypto.com
Summary
Key Points: 
  • PAX Gold (PAXG) is an asset-backed digital token where each token represents one fine troy ounce (t oz) of London Good Delivery gold, stored in professional vault facilities in London.
  • Anyone who owns PAXG owns the underlying physical gold, held in custody by Paxos Trust Company.
  • PAX Gold (PAXG) is an asset-backed token where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities.
  • Since PAXG represents physical gold, its value is tied directly to the real-time market value of that physical gold.


Crypto.com: Earn Up to 8% p.a. on PAX Gold (PAXG) Deposits

HONG KONG, Oct. 15, 2019 /PRNewswire/ -- Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has added PAXG to Crypto Earn, allowing users to enjoy up to 8% p.a. on their deposits. 

 

Earn up to 8% p.a. on PAX Gold (PAXG) deposits

 

PAX Gold (PAXG) is an asset-backed digital token where each token represents one fine troy ounce (t oz) of London Good Delivery gold, stored in professional vault facilities in London. Anyone who owns PAXG owns the underlying physical gold, held in custody by Paxos Trust Company.

Crypto Earn now supports 15 coins for holders to maximize their returns, including BTC, ETH, LTC, XRP, BNB, TUSD, PAX, USDC, MCO, BAT, LINK, CRO, MKR, and DAI, with the addition of PAXG. Interest is paid out weekly in the coin deposited with flexible, 1-month or 3-month terms available. Users earn more by staking at least 500 MCO. 

About PAX Gold

PAX Gold (PAXG) is an asset-backed token where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. Anyone who owns PAXG has ownership rights to that gold under the custody of Paxos Trust Company. Since PAXG represents physical gold, its value is tied directly to the real-time market value of that physical gold. On the Paxos platform, customers can convert their tokens to allocated gold, unallocated gold, or fiat currency (and vice versa) quickly and efficiently, reducing their exposure to settlement risk. For more information, visit: https://www.paxos.com/paxgold.

About Crypto.com

Crypto.com was founded in 2016 on a simple belief: it's a basic human right for everyone to control their money, data and identity. With over 1 million users on its platform today, Crypto.com provides a powerful alternative to traditional financial services, turning its "vision of cryptocurrency in every wallet" into reality, one customer at a time. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 170+ strong team. For more information, please visit www.crypto.com.

 

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