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Paxos Labs launches PAXGy, a gold-backed token earning returns via institutional gold leasing.

Protocol Fundamentals
24 Sep 2026
Crypto Briefing
View Source
Bullish
Paxos Labs launches PAXGy, a gold-backed token earning returns via institutional gold leasing.

Paxos Labs has introduced PAXGy, a new gold-backed token that gains value through leasing its underlying gold reserves to institutional borrowers like refiners and bullion banks. Built on PAX Gold (PAXG), PAXGy allows users to earn returns measured in gold ounces rather than dollars. The token is currently listed on OKX and available on several DeFi platforms, with Chainlink's CCIP enabling seamless cross-chain transfers. This launch taps into the growing tokenized gold market, which exceeded $5 billion in value and saw $90.7 billion in trading volume in early 2026.

Chainlink (LINK), which supports PAXGy's cross-chain transfers, is trading at Rp223.499 on Pluang with a 1-day change of -1.17%. The token's market cap stands at Rp167.34 trillion, and trading volume reached Rp9.2 trillion. These figures are current as of Sep 24, 2026 21:04 WIB.

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