HONG KONG, Oct. 9, 2019 /PRNewswire/ -- Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has listed PAX Gold (PAXG) to its App. PAXG joins a growing list of cryptocurrencies and stablecoins on the Crypto.com platform, such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), XRP, Paxos Standard (PAX), TrueUSD (TUSD), and its own MCO and CRO Tokens.
PAX Gold (PAXG) is an asset-backed digital token where each token represents one fine troy ounce (t oz) of London Good Delivery gold, stored in professional vault facilities in London. Anyone who owns PAXG owns the underlying physical gold, held in custody by Paxos Trust Company.
With PAXG added to the Crypto.com platform, users can now purchase with 21 fiat currencies at true cost with no fees - credit card and bank transfer are supported. As Crypto.com also offers the MCO Visa Card, this adds additional utility to PAXG as users can easily convert cryptocurrencies into fiat currencies and spend at over 40m merchants globally.
About PAX Gold
PAX Gold (PAXG) is an asset-backed token where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. Anyone who owns PAXG has ownership rights to that gold under the custody of Paxos Trust Company. Since PAXG represents physical gold, its value is tied directly to the real-time market value of that physical gold. On the Paxos platform, customers can convert their tokens to allocated gold, unallocated gold, or fiat currency (and vice versa) quickly and efficiently, reducing their exposure to settlement risk. For more information, visit: https://www.paxos.com/paxgold.
Crypto.com was founded in 2016 on a simple belief: it's a basic human right for everyone to control their money, data and identity. With over 1 million users on its platform today, Crypto.com provides a powerful alternative to traditional financial services, turning its vision of "cryptocurrency in every wallet" into reality, one customer at a time. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 170+ strong team. For more information, please visit www.crypto.com.