Paxos offers tokenized physical gold on the blockchain, while Superstate provides a tokenized U.S. Treasuries fund on Ethereum and Solana. They differ in underlying assets (gold vs. Treasuries) and blockchains used. Paxos suits investors seeking gold exposure on-chain; Superstate suits those seeking on-chain exposure to short-term U.S. government debt.
| Token Price | — | — |
| 24h Change | — | — |
| Market Cap | — | — |
| TVL | $1.80BDefiLlama | $750.7MDefiLlama |
| MCap Rank | #42 | #82 |
| Total Raised | $535.3M | $96.5M |
| Founded | 2013 | 2023 |
| Stage | — | — |
| X / Twitter | 4K | 270 |
| GitHub Stars | 89 | — |
| Chains | ethereum | ethereumplumesolana |
| Tags | Stablecoin Issuer, CeFi, Custody | DeFi, RWA, DeFi |
PAX Gold (PAXG) is a tokenized gold asset where each token represents one fine troy ounce of a London Good Delivery gold bar stored in professional vaults. It enables fractional ownership of physical gold with the speed and mobility of a digital asset, allowing users to convert tokens to allocated gold, unallocated gold, or fiat currency on the Paxos platform.
Superstate issues USTB, an on-chain tokenized fund that invests in short-term U.S. Treasury and agency securities, targeting the federal funds rate with a 0.15% management fee. It enables qualified purchasers to subscribe and redeem using USDC, with daily NAV provided by NAV Consulting and compliant on-chain transfer through an Ethereum-based allowlist. The fund offers flexible custody options and is integrated into several ecosystems, including Solana, Ethereum, and Plume Network.