Zebpay brings PAXG, the crypto asset backed by physical gold, to India this week.
PAXG is a tokenized version of gold, with every token backed by one fine troy ounce (about 31 grams) of a 400 oz London Good Delivery gold bar. Individuals holding these tokens can redeem their value via a network of physical gold retailers around the world.
It’s like owning gold, without the need to store or transport it. And your ownership is recorded on the blockchain, an immutable ledger. Combine the ancient store of value, gold, with the digital security of blockchain and you have PAXG.
Remember first learning about money? How paper money was an upgrade over gold because it was easier to move and store? Paxful Gold promises to change that.