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Binance Exchange Users Will Soon Be Able To Purchase Paxos' Gold-Backed Cryptocurrency
Summary: Cryptocurrency exchange Binance will soon offer a gold-backed digital asset created by Paxos Standard, as reported by Coindesk. Starting on Wednesday, August 26 Binance users will be able to trade PAX Gold (PAXG) against the exchange's stablecoin BUSD, exchange token BNB, and Bitcoin (BTC). Each Ethereum-based PAX Gold token has the legal title to a ...
Cryptocurrency exchange Binance will soon offer a gold-backed digital asset created by Paxos Standard, as reported by Coindesk.
Starting on Wednesday, August 26 Binance users will be able to trade PAX Gold (PAXG) against the exchange's stablecoin BUSD, exchange token BNB, and Bitcoin (BTC).
Each Ethereum-based PAX Gold token has the legal title to a physical bar of gold stored in the Brink's London vault. Gold's price has recently reached a record high of $2,075 per ounce as investors turn to the asset as a hedge against inflation as central banks print money to support economies during the COVID-19 pandemic.
PAX Gold was approved by the New York Department of Financial Services last year.
By Emily Mason
Tags: Binance,Gold,PAXG,Paxos
Link: Binance Exchange Users Will Soon Be Able To Purchase Paxos' Gold-Backed Cryptocurrency [Copy]
