Paxos Labs Launches PAXGy, Bringing Institutional Gold Leasing Yield On-Chain
New York – September 24, 2026 -- Paxos Labs has launched PAXGy, a gold-backed token that accrues value in gold terms by routing reserves into the multi-billion dollar institutional gold leasing market that has set bullion lending rates for four decades.
PAXGy deploys PAXG reserves into a market previously closed to retail holders
Holders deposit PAXG or swap accepted stablecoins for PAXGy, which is redeemable for PAXG at any time. The underlying gold is deployed to a network of vetted institutional borrowers -- refiners, jewelry manufacturers, miners and bullion banks -- through the same leasing market that has priced bullion lease rates for decades. As reserves are deployed, value accrues to the PAXGy exchange rate, meaning each token becomes worth more PAXG over time and holders can exit with more notional ounces than their principal.