We’re excited to announce that PAX Gold is now available on BlockFi, a leading wealth management platform for crypto investors. Starting today, you can deposit PAX Gold in a BlockFi Interest Account (BIA), with an initial annual percentage yield (APY) at 4% on your holdings. Through BlockFi, you can also trade between PAX Gold and other assets like BTC, ETH, LTC and PAX.
Gold surged to a record high price at nearly $2000 per ounce earlier this month. While many are looking to enter the precious metals market, investment-grade physical gold is only easily accessible to institutional investors. PAX Gold makes the highest quality gold accessible to anyone – we’ve digitized LBMA Good Delivery gold to make it available on the blockchain. Thanks to BlockFi, you now have another venue for putting your physical gold to work. Earn interest on your holdings with no friction.
“We’re excited to support PAXG on our platform and expand the range of options for our clients,” said Zac Prince, CEO and Founder of BlockFi. “With both gold and crypto on a major upswing, this innovative opportunity to invest in both assets is a natural evolution within global markets.”
Walter Hessert, Head of Strategy at Paxos, commented, “BlockFi has made it simple and compelling for investors to earn interest on their cryptocurrency. We’re thrilled that PAX Gold is now available on BlockFi so users can easily own the highest quality gold and earn interest from it.”
As the gold rally continues, PAX Gold will be available on more platforms and offer a larger variety of use cases for customers around the world.