PAXG vs XAUT
Same asset class, side by side. A dash is a field the public record does not fill.
| Field | Pax Gold | Tether Gold |
|---|---|---|
| Ticker | PAXG | XAUT |
| Asset class | Gold | Gold |
| Issuer | Paxos Trust Company, National Association | TG Commodities, S.A. de C.V. |
| Issuer jurisdiction | United States | El Salvador |
| Regulator | Office of the Comptroller of the Currency (OCC) | Comisión Nacional de Activos Digitales (CNAD), El Salvador. Registered as a stablecoin issuer and a digital asset service provider. The Relevant Information Document says registration does not certify the tokens. |
| Token type | Asset-backed token. One token represents one fine troy ounce of a London Good Delivery gold bar. | Digital asset. Each token is an undivided specific interest in one fine troy ounce of gold on a specific LBMA London Good Delivery bar. |
| Custodian | Paxos Trust Company, National Association. Allocated gold is stored in LBMA-accredited vaults in London. | A Swiss related-party custodian. The Relevant Information Document does not publish the legal name. Gold is vaulted in Switzerland. |
| Auditor | KPMG LLP (monthly attestation). Bureau Veritas (annual physical audit of the vaulted gold; Paxos says this is not an attestation of ownership or valuation). | An independent accounting firm prepares quarterly reports on the Gold Reserves. The Relevant Information Document does not name the firm. |
| Chains | Ethereum, Solana | Ethereum, BNB Chain |
| Fees | Zero storage fees. Zero on-chain transfer fees. | No custody fee, as stated at launch. Primary-market purchase and redemption fee of 25 basis points in the Relevant Information Document. Account verification fee of 150 USDT, credited after successful verification. Physical delivery in Switzerland is charged separately. |
| Redemption | Redeemable through Paxos for LBMA Good Delivery gold bars (minimum 430 PAXG per bar), unallocated Loco London gold, or USD. | KYC-verified customers only, and only for a full gold bar. Holders are generally asked to deposit at least 430 XAUT. Delivery is to an address in Switzerland, or the issuer can sell the bar on the Swiss market and pay the proceeds. |
| Minimum unit | 1 fine troy ounce per token | 1 fine troy ounce per token, fractionalized to 0.000001 fine troy ounce. Primary-market minimum purchase is 50 XAUT. |
| Launched | — | 2020-01-23 |
| Website | https://www.paxos.com/pax-gold | https://gold.tether.to/ |
| CoinGecko id | pax-gold | tether-gold |
| Market cap | — | — |
| Supply | — | — |