According to the latest development, cryptocurrency exchange Coinbase announced that it will list the PAX Gold (PAXG) token, which is indexed to the price of gold.
PAXG will be supported by Coinbase on the Ethereum network and will be available for trading on May 8.
PAXG and similar cryptocurrencies, especially those used by people who do not prefer physical gold due to the rise in gold prices, have become popular recently. However, companies that own gold-themed cryptocurrencies keep them within their own organization and print tokens in return. This brings with it some third-party risks. It is necessary to be careful, especially with stablecoins and gold-indexed tokens of companies that are not well regulated.
*This is not investment advice.
