For the first time ever, traders can trade gold-backed futures contracts with the ease and speed of digital assets. In addition to spot market trading, PAX Gold is now available as perpetual and quarterly futures contracts trading on FTX.
As you may know, FTX is the leading cryptocurrency derivatives exchange built by traders, for traders. FTX was incubated by Alameda Research, a top cryptocurrency liquidity provider, which ensures FTX has deep liquidity pools. With this announcement, FTX is making it possible for traders to buy and sell gold futures contracts (legal agreements to buy or sell gold at a predetermined price at a specific time in the future) with digital gold – PAX Gold. FTX will offer PAX Gold futures that are either perpetual or have quarterly expirations.
This is an exciting next step for PAX Gold. By opening up this market for PAX Gold, FTX is offering more sophisticated trading vehicles for digital assets. This can also pave the way for eventual options and leverage trading for PAX Gold.
The biggest and fastest growing gold token, PAX Gold is the easiest way to own and trade the highest-quality physical gold stored in London vaults. The price of PAX Gold is tied to the spot price of one fine troy ounce of London Good Delivery gold, which is the standard measure for the London gold market. With PAX Gold, you own the underlying physical gold, which is unlike gold Futures, ETFs or unallocated gold.
PAX Gold offers investors the benefits of owning physical gold with the ease and mobility of owning digital assets. And never before have traders been able to use crypto to access gold markets in this way. Using PAX Gold, traders can access industry-leading orderbooks on FTX.
Start trading PAX Gold on FTX today!