PAXG vs XAUT: how the two gold tokens differ
Compare backing, issuer safeguards, redemption considerations, launch history, and indexed networks for the two best-known gold tokens.
The differences that matter
Both products point to one fine troy ounce of allocated gold per token. The operational wrapper is where the comparison changes.| Question | PAXGPax Gold | XAUTTether Gold |
|---|---|---|
| Issuer | Paxos Trust Company | Tether |
| Backing described | One fine troy ounce of allocated London Good Delivery gold per token | One fine troy ounce of allocated LBMA Good Delivery gold per token |
| Launched | Sep 2019 | Jan 2020 |
| Indexed networks | EthereumSolana | EthereumBNB Chain |
| Issuer risk index | ||
| Primary product record | Paxos product page | Tether Gold product page |
How to choose between them
The ticker is not the decision. Start with the network you can use, then verify the legal and redemption path available to you.Match the network
In the current index, PAXG is represented on Ethereum and Solana; XAUT is represented on Ethereum and BNB Chain. Confirm the exact contract before transacting.
Read the redemption terms
“Allocated gold” does not make delivery rules identical. Minimums, location, identity checks, fees, and eligible jurisdictions can determine whether redemption is practical for you.
Inspect the issuer evidence
Compare legal standing, custody, assurance work, operating history, and contract surface—not only the spot price or token symbol.
Fees and physical redemption
As checked on September 4, 2026, issuer conversion fees and secondary-market trading costs are separate. A small exchange purchase does not automatically use the issuer’s direct minting fee schedule.
| Question | PAXG | XAUT |
|---|---|---|
| Direct issuer fees | Creation fees are waived through September 30, 2026. Redemption uses marginal bands based on rolling net redemptions; in-kind gold conversions have an additional fee. | The published FAQ describes a 0.25% purchase or redemption fee, with additional redemption costs. |
| Storage | Paxos currently lists no storage fee. | Verify the current fee schedule and product terms for your route. |
| Physical delivery | The whitepaper describes whole-bar redemption requiring enough PAXG for a bar, with a 430-ounce threshold. | The FAQ requires enough tokens for a whole bar. Direct issuer purchases have a 50 XAUT minimum. |
Evidence: Paxos fee schedule, PAXG whitepaper, and Tether Gold FAQ. Check current account eligibility, delivery arrangements, and quoted charges with the issuer; a whole-bar threshold makes physical redemption materially different from selling a fraction of a token.