Starting March 19, PAX Gold will be available for trading on SMART VALOR, a leading European crypto exchange. PAX Gold (ticker symbol PAXG) will be traded against CHF, EUR, GBP, USD, USDT and BTC.
More than $100 billion in gold is traded daily, but access to this market tends to be limited to large institutions. PAX Gold is a digital asset that allows individuals and institutions access to the highest-quality investment grade gold held in the most secure vaults with no storage fees. When you own PAX Gold, you own the underlying gold bars and you can redeem your tokens for physical bars. Available as an Ethereum-based token, PAX Gold also offers 24/7 accessibility.
Kyle Libra, Product Director at Paxos, commented, “PAX Gold is a truly unique product – it is the fastest and easiest way to buy, own and trade the highest-quality physical gold. Given the volatile market environment, it’s important that investors around the world can access this safe haven asset quickly and easily – PAX Gold does just that. With Smart Valor, customers with GBP, EUR or Swiss Francs can now buy PAX Gold and trade that against the biggest cryptos.”
This is the first time customers will be able to easily buy PAXG with GBP, EUR and CHF. This is the only gold-back digital asset available on the SMART VALOR exchange.
Olga Feldmeier, CEO of SMART VALOR added, “The US dollar lost 93% of its value over the last 100 years. In a view of the recent decision by the US Federal Reserve to lower the benchmark interest rate to 0% and relaunch its quantitative easing program with $700 billion, the greenback is set for further devaluation. With the breakout of the coronavirus we also might be heading into the deep recession like the Great Depression of the 1930s. This is the time when investors are in dire need for a real alternative to protect their savings. Therefore, we decided to move forward with listing of tokenized gold on SMART VALOR exchange.”