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SALT Announces Addition of PAX Gold as Collateral Option

SALT, a crypto-collateralized online lending platform, announced on last week that beginning October 1st it will offer the just released PAX Gold (PAXG) as a collateral type for clients seeking to use their digital assets as collateral to secure a USD loan. The online lender reported that PAX Gold is an asset-backed digital token on the Ethereum blockchain and is Paxos’ first blockchain asset to represent precious metal; its value is tied directly to the spot price of gold quoted by the London gold market.

CEO says Paxos offers investors ‘confidence of a bank, but the innovation of Silicon Valley’

“We’re really a technology firm at heart, and so we’re trying to give you the confidence of a bank, but the innovation of Silicon Valley,” Paxos CEO Charles Cascarilla says.

“That’s just different from, I think, most institutions that are in the banking world today,” he says in an interview with Jim Cramer on “Mad Money.”

Paxos offers a regulated gold-backed digital coin called PAX Gold that allows investors to own and trade physical gold.

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Alpha Bullion is an innovative service for redeeming PAX Gold tokens for real, physical gold. Each token acts as proof of ownership for 1 oz of gold stored at no additional cost in bar form in some of the most secure vaults in London. This provides all the stability benefits offered by precious metals without the burden of storage or shipping. It also allows for a market first feature, as the potential for cryptocurrency loans using PAX Gold would allow customers to essentially earn dividends on precious metals. This unique bridge between the ancient and the innovative has already drawn attention from press such as Coindesk and Jim Cramer of Mad Money. Learn more by following select external articles on our blog, and stay tuned for more original content from Alpha Bullion.

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