Paxos Labs launches PAXGy, a gold-backed token that accrues value in gold terms

Jason Lau: Jason Lau is Chief Innovation Officer at OKX. He noted that PAXGy provides customers immediate earning potential on gold holdings via X Layer and exchange access, connecting traditional finance with crypto without added complexity. Paxos Labs: Paxos Labs is an enterprise-grade digital asset infrastructure provider focused on tools for minting, moving, and monetizing digital assets. It launched PAXGy, a PAXG-backed token that accrues value in gold terms by deploying reserves into institutional leasing strategies. The launch leverages Paxos Labs' tokenization expertise and integrates with partners for onchain and exchange distribution. Bhau Kotecha: Bhau Kotecha is Co-Founder of Paxos Labs. He explained that PAXGy extends decades-old institutional gold lending economics to everyday token holders by allowing reserves to grow in ounce terms while remaining redeemable for PAXG. Walter Hessert: Walter Hessert is Head of Strategy at Paxos. He described how PAXGy converts gold from a cost-bearing holding into a capital-like asset through blockchain-enabled tokenization and transparent reserve deployment. Gold Market Access: Institutional gold leasing has long allowed vetted borrowers to pay rates quoted in gold, a market previously limited to large institutions with minimum sizes and bilateral relationships. Tokenization Benefits: Tokenization makes gold holdings divisible, transferable, and programmable, enabling pooled positions that unlock institutional strategies for holders of any size. Cross-Chain Infrastructure: Chainlink's CCIP serves as the exclusive cross-chain messaging provider for PAXGy, allowing positions to move across chains without unwinding.