Who controls it
Paxos Gold is a claim on allocated London bullion that Paxos holds. Paxos can freeze the token.
- Holder’s claim
- PAXG represents ownership of a specific allocated gold bar, or a fractional share of one, held by Paxos and evidenced by serial number and weight.
- Redemption or sale
- Holders can redeem PAXG for allocated physical gold or cash through Paxos, subject to a minimum redemption size and identity verification, or sell PAXG in the market.
Dependencies
- Paxos's vaulting and custody arrangements in London
- Paxos's freeze and administrative authority over the token contract
- Redemption minimums and verification requirements
- Market liquidity for the peg
Advisor notes
A claim on a specific bar, as PAXG gives, is stronger than a claim on a pooled reserve, but Paxos is still custodian and administrator. Record Paxos’s freeze power next to the bar allocation; the allocation leaves Paxos’s control in place.
A named organization or administrator controls issuance, transfers, reserves, redemption, or address restrictions. This grade can sit beside a sound reserve, a useful product, or a fitting role in a client account. It records who can act on the token and passes no judgment on the product.
Questions before use
- Does the exact contract and chain match the instrument reviewed here?
- Which party can mint, burn, pause, upgrade, block, or redeem?
- Does the client have direct redemption access or only secondary liquidity?
- What protocol, bridge, wallet, and custodian dependencies are added?
- Which event would force a review or a sale?
Sources
Issuers can change their documents and product terms. This page gives our reading of control as of 2026-08-19. Check the current terms before a client buys.
Legend: No freeze key: no issuer or administrator can freeze an address at this layer · Governed, no freeze: on-chain collateral and governance set the terms, but no issuer blocklist exists · Mixed control: on-chain mechanisms sit beside custodians, real-world assets, a central transaction orderer, or other parties a court or regulator can compel · Issuer can freeze: a named organization or administrator controls issuance, transfers, reserves, redemption, or address restrictions. How grading works.