PAX Gold (PAXG) is a digital asset developed by Paxos, whose main feature is that it is backed by physical gold. Each PAXG token represents one troy ounce (t oz) of London Good Delivery quality gold, stored in secure vaults, such as those at Brink's. This means that each person who holds PAXG tokens also has proportional ownership of the corresponding physical gold, which is held in the custody of the Paxos Trust Company.

Holders of $PAXG can choose to redeem their tokens in two ways:

1. Receive the corresponding amount in US dollars (USD).

2. If they hold more than 430 PAXG tokens, they can redeem the physical gold in bars.

This feature makes PAXG an interesting option for those looking for a digital asset backed by a physical asset, in addition to offering the ease of trading in the cryptocurrency market, combining security and liquidity.