Digital assets derivatives exchange Deribit has added support for the Pax Gold (PAXG), a token created by Paxos that is backed 1:1 by a fine troy ounce of LMBA good delivery gold vaulted in London.
PAXG offers an opportunity to gain exposure to gold, a traditional safe-haven asset, and typically inaccessible within the digital asset ecosystem, helping traders diversify their portfolios and hedge against market volatility.
Within the first week of launch, Deribit trading volume exceeded a quarter billion USD in notional value for gold.
