Tether Gold vs Pax Gold: Key Differences (XAUT vs PAXG)
Complete side-by-side comparison of Tether Gold and Pax Gold. Price, market cap, technology, and more.
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What is Tether Gold?
Tether Gold (XAUT) represents ownership of physical gold on the Ethereum blockchain. Each token is backed by one troy ounce of gold held in Swiss vaults. Backed by Tether, the stablecoin giant, it combines gold's ancient value proposition with blockchain's portability. Trade gold 24/7 with instant settlement.
What is Pax Gold?
Each PAXG token is backed by one fine troy ounce of London Good Delivery gold stored in Brink's vaults. Issued by Paxos Trust Company under NYDFS regulation. It gives you gold exposure without storage costs, with the ability to trade 24/7 and settle instantly on Ethereum. Real gold, digital convenience.
Price Evolution
Percentage change from start of period
XAUT-2.92%PAXG-2.59%Detailed Comparison
| Metric | XAUT | PAXG |
|---|---|---|
| XAUT PAXG | ||
| Price & Market | ||
| Price | $4,478.15 | $4,495.43 |
Price $4,478.15 $4,495.43 | ||
| Market Cap | $2.74B | $2.09B |
Market Cap $2.74B $2.09B | ||
| 24h Volume | $227.52M | $147.02M |
24h Volume $227.52M $147.02M | ||
| Volume/Cap Ratio | 8.29% | 7.04% |
Volume/Cap Ratio 8.29% 7.04% | ||
| Market Dominance | 0.00121364% | 0.00092282% |
Market Dominance 0.00121364% 0.00092282% | ||
| All-Time High | $5,504.62 | $5,619.09 |
All-Time High $5,504.62 $5,619.09 | ||
| ATH Date | Jan 29, 2026 | Jan 29, 2026 |
ATH Date Jan 29, 2026 Jan 29, 2026 | ||
| Performance | ||
| 24h Change | 0.61% | 0.80% |
24h Change 0.61% 0.80% | ||
| 7d Change | 0.55% | 0.36% |
7d Change 0.55% 0.36% | ||
| 30d Change | 2.92% | 2.59% |
30d Change 2.92% 2.59% | ||
| Supply | ||
| Circulating Supply | 612,823.66 | 464,216.783 |
Circulating Supply 612,823.66 464,216.783 | ||
| Total Supply | 707,747.089 | 464,216.783 |
Total Supply 707,747.089 464,216.783 | ||
| Max Supply | Unlimited | Unlimited |
Max Supply Unlimited Unlimited | ||
| Technology | ||
| Consensus | ERC-20 (Ethereum PoS) | ERC-20 (Ethereum PoS) |
Consensus ERC-20 (Ethereum PoS) ERC-20 (Ethereum PoS) | ||
| Block Time | N/A (Token) | N/A (Token) |
Block Time N/A (Token) N/A (Token) | ||
| TPS (Transactions/sec) | N/A | N/A |
TPS (Transactions/sec) N/A N/A | ||
| Launch Year | 2020 | 2019 |
Launch Year 2020 2019 | ||
| Transaction Fees | ||
| Average Fee | $0.50-$20 | $0.50-$20 |
Average Fee $0.50-$20 $0.50-$20 | ||
| Fee Model | Ethereum gas fees (ERC-20) | Ethereum gas fees (ERC-20) |
Fee Model Ethereum gas fees (ERC-20) Ethereum gas fees (ERC-20) | ||
| General | ||
| Primary Use Case | Tokenized gold, Store of value | Tokenized gold, Store of value |
Primary Use Case Tokenized gold, Store of value Tokenized gold, Store of value | ||
| Founder | Tether (Jean-Louis van der Velde) | Charles Cascarilla (Paxos) |
Founder Tether (Jean-Louis van der Velde) Charles Cascarilla (Paxos) | ||
| Website | gold.tether.to | paxos.com/paxgold |
Website | ||
| Volatility & Risk | ||
| Drawdown from ATH | 18.6% | 20.0% |
Drawdown from ATH 18.6% 20.0% | ||
Technology Comparison
Use Cases & Ecosystem
Why Tether Gold?- ✓Each token backed by one troy ounce of physical gold
- ✓Each token backed by one troy ounce of physical gold
- ✓Issued by Tether - largest stablecoin company
- ✓Issued by Tether - largest stablecoin company
- ✓Gold stored in secure Swiss vaults
- ✓Gold stored in secure Swiss vaults
Why Pax Gold?- ✓Fully backed by physical gold in Brink's vaults
- ✓Regulated by NYDFS - institutional grade
- ✓Trade gold 24/7 with instant blockchain settlement
Tether Gold Risks
- ✗Tether's transparency history raises concerns
- ✗Tether's transparency history raises concerns
- ✗Less regulatory oversight than competitor PAXG
- ✗Less regulatory oversight than competitor PAXG
Pax Gold Risks
- ✗Counterparty risk - trust Paxos to hold gold
- ✗Fees for redemption of physical gold
Investment Considerations
The Verdict
Two ways to hold gold on blockchain. PAXG is issued by Paxos under strict NYDFS regulation, stored in Brink's vaults in London. XAUT is issued by Tether, stored in Swiss vaults. Both represent one troy ounce per token. The difference is trust: Paxos publishes regular third-party audits. Tether has had transparency controversies with USDT. If regulatory compliance matters to you, PAXG wins. If you trust Tether's dominance and want the larger ecosystem, XAUT works too. Both achieve the same goal: gold, but digital.
Frequently Asked Questions
What is the main difference between PAXG and XAUT?
Both PAXG and XAUT are ERC-20 tokens representing ownership of physical gold, but PAXG is issued by Paxos Trust Company and backed by gold stored in Brink's vaults, while XAUT is issued by Tether and backed by gold held in Swiss vaults. Their issuers and storage locations are the primary distinctions.
Which token offers better liquidity, PAXG or XAUT?
Both tokens trade 24/7 on Ethereum, offering instant settlement and similar liquidity profiles. However, liquidity can vary depending on the exchanges and platforms supporting each token, so users should check availability on their preferred trading venues.
Are the transaction fees different for PAXG and XAUT?
Since both PAXG and XAUT are ERC-20 tokens on the Ethereum network, transaction fees depend on Ethereum gas prices rather than the tokens themselves. Therefore, fees are generally comparable and fluctuate with network congestion.
Which token is more regulated, PAXG or XAUT?
PAXG is issued by Paxos Trust Company, regulated by the New York Department of Financial Services (NYDFS), which adds a layer of regulatory oversight. XAUT is issued by Tether, a major stablecoin issuer, but does not have the same specific regulatory licensing as Paxos.
How do I choose between PAXG and XAUT for gold exposure?
Choosing between PAXG and XAUT depends on factors like issuer trust, regulatory preferences, and where you plan to trade. If regulatory oversight and transparency are priorities, PAXG might be preferable. For users already familiar with Tether's ecosystem, XAUT could be more convenient.
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