Paxos: The market capitalization of the gold-backed stablecoin PAXG reaches a new high of $500 million
ChainCatcher news, stablecoin issuer Paxos announced on platform X that the market capitalization of the gold-backed stablecoin PAXG has reached a new high of 500 million dollars. Paxos stated that each PAXG token is backed by 1 troy ounce of gold stored in the London LBMA vault.
In addition, recent spot gold prices have been continuously refreshed, reaching 2670 dollars per ounce yesterday, setting a new historical high.
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