Paxos Gold (PAXG) is a gold-backed cryptocurrency, with each token representing one fine troy ounce of London Good Delivery gold stored in secure vaults. To ensure transparency, Paxos publishes monthly reserve reports, independently audited by WithumSmith+Brown, verifying that the PAXG token supply matches the physical gold reserves. These reports confirm the gold’s quantity, purity, and storage details, accessible via Paxos’ website. PAXG holders can also use an on-chain lookup tool to verify the serial number and characteristics of their allocated gold bars. This proof-of-reserve system, regulated by the New York Department of Financial Services, builds trust by ensuring full backing and redeemability of tokens for physical gold or fiat, aligning with Paxos’ commitment to security and accountability.