Exploring: PAXG & Tokenizing Gold w/ Lesley Chavkin, Paxos
Wednesday, 6 August 2025 · 2 min read · Listen to the episode ↗
The discussion focuses on Paxos and its role in blockchain and tokenization, particularly PaxGold (PaxG), a stable asset backed by physical gold that enhances accessibility and liquidity. Chavkin highlights the benefits of tokenizing gold, merging traditional value with digital assets, and emphasizes regulatory advancements for stablecoins and digital assets in the financial landscape. Future possibilities for tokenizing other assets and the integration of blockchain technology into everyday transactions are also explored.
Nicholas Carey introduces the podcast and welcomes Lesley Chavkin, global head of public policy at Paxos, who provides an overview of Paxos as a regulated blockchain and tokenization infrastructure platform established in 2012. Chavkin highlights Paxos' role in stablecoin issuance and its regulatory status under the New York Department of Financial Services since 2015, with operations extending to Singapore, Abu Dhabi, and the EU.
Chavkin discusses PaxGold (PaxG), launched in 2019, which is backed by physical gold stored in vaults, offering consumer protections similar to other Paxos products. She emphasizes PaxG's appeal for those interested in gold as a stable asset class, merging traditional value with digital assets. The conversation touches on gold's historical significance as a store of value and its relevance in today's digital landscape.
The discussion emphasizes the unique properties of gold, such as its rarity and fixed supply, and the benefits of tokenizing gold, including enhanced accessibility, liquidity, and efficiency. Tokenization allows fractional ownership, making gold investment more accessible, while also increasing liquidity by enabling trading in 24/7 markets. The current market cap of PaxG is around $940 million, with significant interest despite a focus on US dollar stablecoin products.
Looking ahead, the potential for tokenizing other rare earth minerals and alternative assets is discussed, with Paxos aiming to facilitate the instant movement of any asset in a trustworthy manner. The conversation also covers the recent crypto week in Washington, D.C., highlighting the significance of newly established federal stablecoin legislation, which received bipartisan support and signals a transition toward integrating digital assets into everyday financial products.
Chavkin reflects on her extensive career in government and the private sector, expressing enthusiasm for the future of blockchain technology and its growing integration into everyday financial transactions. She articulates the value of combining traditional assets like gold with blockchain technology, describing it as "the best of both worlds," which merges the intrinsic value of physical gold with the efficiency and convenience offered by blockchain.
This summary was generated from the episode transcript and can contain mistakes.