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While many stablecoins are dollar-pegged, others align with gold. The two notable examples are Pax Gold (PAXG) and Tether Gold (XAUT), both offering investors an opportunity to gain exposure to gold prices through the blockchain.
Exploring Gold-Pegged Stablecoins: Pax Gold and Tether Gold
Pax Gold
Pax Gold is a stablecoin with a market cap of approximately $683 million. It aims to provide a direct relationship between the value of gold and digital currency, ensuring that each token is backed by a specific amount of gold stored in secure vaults.
Key Features of Pax Gold:
Regular audits to confirm gold reserves.
Backed by physical gold, allowing users to redeem their tokens for actual gold.