Paxos Gold (PAXG) records $248M January inflow as tokenized gold demand surges
By
Krisztian Sandor
Summary
Paxos Gold (PAXG), a tokenized gold asset backed by physical gold in London vaults, saw record inflows of over $248 million in January, lifting its market capitalization above $2.2 billion. The surge comes as gold prices rally past $5,300 per ounce, and as crypto investors seek stable stores of value while digital asset markets stagnate. PAXG now trails only Tether Gold (XAUT) among tokenized gold products.
Source
bskyPaxos Gold (PAXG) records $248M January inflow as tokenized gold demand surgescoindesk.comKey quotes
· 3 pulledPaxos Gold (PAXG), backed by physical gold held in LBMA vaults in London, raked in more than $248 million fresh capital through January
That lifted PAXG's market capitalization over $2.2 billion, trailing only Tether Gold (XAUT).
Tokenized gold has improved the traditional store of value metal's utility, while bitcoin trades like a risk asset amid uncertain times, one expert noted.
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