PAXG is live on CoinLoan's Interest Account
Today, we are providing CoinLoaners with more options to get profit from stablecoins! Our team is happy to inform you Paxos Gold (PAXG) is now available in our Interest Account, so that users can earn from 5.2% annual interest on their deposits. You can easily raise it up to 7.2% per annum, given the Staking opportunity. The recently listed stablecoin can also be used as collateral for crypto-backed loans and as a regular asset in Wallet.
What Is Paxos Gold (PAXG)
PAXG is an ERC20 token on the Ethereum blockchain. This commodity-backed stablecoin is issued by Paxos, a for-profit company based in New York. Each token is backed by 1 troy fine ounce of 400 oz gold. Thus, its market value is meant to mirror the physical gold.
PAX token was approved by the New York financial regulator. Its popularity is growing due to the trust of millions of users. No wonder, market capitalization of PAXG has grown to over $60M in just 1 year.
How PAXG works on CoinLoan
From now on, the token gives CoinLoaners three options:
- You can deposit and withdraw the coin along with other assets in My Wallet.
- If you hold Paxos Gold, you can use it as collateral to borrow stablecoins or fiat assets in Instant Loans.
- You can generate up to 7.2% profit by depositing PAXG into your Interest Account.