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Paxos Assets Surge Over 450% to $6.8 Billion in One Year

Growth driven by PayPal’s PYUSD stablecoin reaching $3.6 billion and gold-backed token PAXG climbing to $1.8 billion.

PYUSD
PAXG

Summary

Paxos reported its total asset value rose from $1.2 billion to $6.8 billion over the past year, marking a more than 450% increase. PayPal’s PYUSD stablecoin contributed over half of the growth, reaching $3.6 billion in value. The company’s gold-backed token PAXG also expanded significantly, growing to $1.8 billion.

Terms & Concepts
  • Stablecoin: A cryptocurrency pegged to a stable asset like the U.S. dollar to reduce price volatility.
  • PYUSD: A USD-pegged stablecoin issued by Paxos for PayPal, used for payments and transfers.
  • PAXG: A gold-backed token issued by Paxos, representing ownership of physical gold stored in vaults.