Points of Focus

• Paxos launched gold-backed PAXG on Solana as the first stage of a planned multichain expansion.
• PAXG has grown more than 300% since 2024, while Solana’s RWA market reached $2.5 billion in May 2026.
• Paxos upgraded PAXG’s infrastructure to support future deployments across both EVM and non-EVM blockchains.

Paxos has expanded its tokenized gold product PAXG to Solana, making the network home to its first federally regulated gold token and marking the first phase of the company’s planned multichain expansion. The launch comes as tokenized commodities gain traction and Solana’s real-world asset (RWA) sector expands.

PAXG was introduced on Ethereum in 2019 and represents one fine troy ounce of physical gold held in London vaults accredited by the London Bullion Market Association. 

Paxos said PAXG has grown more than 300% since 2024 as investors sought blockchain-based alternatives to bullion and gold exchange-traded funds.

PAXG is now live on @Solana via @sunrisedefi.

The only OCC-regulated gold token joins one of crypto's fastest-growing ecosystems for builders. pic.twitter.com/6x2msjhTrv

— Paxos (@Paxos) June 25, 2026

Paxos chose Solana for PAXG multichain expansion

Paxos described Solana as the first step in a wider multichain strategy rather than a one-off deployment. The company partnered with Sunrise DeFi to bring PAXG into Solana’s ecosystem, allowing trading across major decentralized exchanges and compatibility with wallets and aggregators built on the network.

The decision also aligns with Solana’s growing presence in tokenized assets. According to figures cited by Paxos from RWA.xyz, the value of RWAs on Solana climbed to $2.5 billion in May 2026 from $215 million a year earlier. The company cited Solana’s lower fees and faster settlement times as factors supporting the launch.

PAXG holders have more than doubled over the past two years, while the average position size increased from about $7,000 to $26,000, according to Paxos.

Paxos upgrades PAXG infrastructure for multichain rollout

The Solana launch required Paxos to modify infrastructure that previously supported PAXG only on Ethereum. The company upgraded the token’s contracts to enable omnichain functionality across Ethereum Virtual Machine (EVM) and non-EVM networks while maintaining compliance controls and supply verification used in monthly reserve attestations.

On Solana, PAXG uses the Token-2022 standard, which Paxos previously adopted for its PYUSD and USDG stablecoins. The company said this approach allows it to preserve the same regulatory requirements applied to Ethereum-based PAXG without relying on a separate smart contract layer.

Real gold ownership, now on @Solana.

Each ethereum:0x45804880de22913dafe09f4980848ece6ecbaf78 token is a 1:1-backed claim to physical gold you can redeem, use as collateral, and trade 24/7.

Paxos Head of Strategy, @whessert, on the benefits of Pax Gold: pic.twitter.com/2rXEo4YIJm

— Paxos (@Paxos) June 25, 2026

PAXG is issued by Paxos Trust Company, a national trust bank supervised by the Office of the Comptroller of the Currency in the US. Its reserves undergo monthly attestations by KPMG and annual physical inspections by Bureau Veritas. Existing Ether (ETH) holders can bridge PAXG to Solana through the Paxos platform or LayerZero Stargate without selling their holdings or obtaining new attestations.