Binance to List Pax Gold

The cryptocurrency exchange Binance announced the addition to its listing of the Pax Gold (PAXG) stablecoin. ForkLog has learned from platform representatives.

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Binance will begin supporting Pax Gold on Wednesday, August 26. Trading will be available from 15:00 MSK in pairs with Bitcoin, BUSD and BNB.

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The gold-backed stablecoin on the Ethereum blockchain, Pax Gold, was launched by Paxos.

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Earlier, in October 2019, the Bitcoin exchange Kraken announced support for Pax Gold, and in March 2020, retail clients of the company Nexo gained the ability to use the stablecoin as collateral.

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In January, the gold-backed stablecoin was launched by the issuer of the most popular “stablecoin,” Tether. A month later, Tether Gold surpassed Pax Gold in market capitalization, reaching $21 million.

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