PAXG Launches on Base, Bringing Regulated Gold to Borrowers on Coinbase

Pax Gold (PAXG), the tokenized gold product issued by Paxos subject to OCC supervision, is now live on Base, the Layer 2 network incubated by Coinbase.

PAXG is a token backed one-to-one by one fine troy ounce of physical gold held in LBMA-accredited vaults. PAXG is already available across DeFi venues on Base, with additional integrations, including Coinbase Borrow,  expected to roll out in the weeks ahead, subject to product availability.

Gold you can put to work

PAXG on Base is set to become the first non-crypto collateral asset in Coinbase Borrow, an onchain lending product powered by Morpho that lets users borrow against their assets instead of selling them. For a PAXG holder, that means keeping the gold position intact as a long-term holding while unlocking liquidity against it whenever it's needed.

This is a meaningful shift for gold owners, as physical gold and gold ETFs are generally static holdings. If a holder wants cash without selling, the options are limited and may involve a specialty lender. Putting PAXG to work in Coinbase Borrow gives holders a more direct path to borrow against their gold, the same way people already borrow against crypto holdings like bitcoin or ether.

“PAXG will be the first non-crypto collateral in Coinbase Borrow, sitting alongside assets like BTC and ETH as something you can borrow against with just a few clicks,” said Antonio Garcia-Martinez, head of growth at Base. “Until now getting cash out of gold meant giving it up.”

PAXG is already live across DeFi venues on Base, with more integrations, including Coinbase Borrow, rolling out in the weeks ahead.

How PAXG is backed

Pax Gold (PAXG) is a token backed one to one by physical gold, one fine troy ounce per token, held in LBMA-accredited vaults and verified through monthly KPMG attestations and an annual audit from Bureau Veritas.

Paxos issues PAXG through its national trust bank regulated by the Office of the Comptroller of the Currency (OCC), one of the most rigorous oversight frameworks available for a digital asset issuer. Holding PAXG means holding the underlying physical gold directly, under the legal custody of Paxos Trust Company, National Association, with full-bar serial transparency through our Gold Allocation Lookup tool.

PAXG is gold with the security of a regulated custodian and the speed of the blockchain.

• No cost to hold it: Gold ETFs typically charge 10 to 40 basis points a year just to hold a position. PAXG charges nothing for storage or insurance.

• Fast settlement: Transfers settle in seconds onchain, versus a day or two for an ETF trade or a physical bar transfer.

• Flexible redemption: Holders can redeem PAXG for physical gold bars (a minimum of 430 PAXG), unallocated gold, or cash at market price, whenever they want.

Whether PAXG lives on Ethereum, Solana, or now Base, it carries identical reserves, identical oversight, and identical reporting. One standard, applied across every chain.

Get PAXG on Base

PAXG is live on Base today. 

Find out where to buy it, or explore the reserves yourself, at paxg.com.