Sign in Subscribe
Featured

Press release: CF Benchmarks launches PAX Gold-USD benchmark price index

"Traditional gold markets only operate Monday through Friday, so this new offering opens new opportunities for financial markets.” said Sui Chung, CEO of CF Benchmarks.

CF Benchmarks

• 2 min read
Press release: CF Benchmarks launches PAX Gold-USD benchmark price index

Investors and traders will be able to access a real-time, benchmark digital gold price 24/7, 365 days a year for the very first time

August 25 LONDON -- Beginning today, CF Benchmarks will offer a PAX Gold (PAXG) daily settlement and spot rate, updated every second. PAX Gold from Paxos Trust Company is the first regulated digital asset backed token that represents premium gold bars. The benchmark price indices are regulated benchmarks under EU BMR so can be used by regulated firms in the EU for the creation of financial and investment products. They will be published 365 days a year to give investors a trusted 24/7 digital gold price for the first time. Digital asset exchanges Kraken and itBit by Paxos will provide transaction and order book data for these indices. The new benchmark indices will become the latest members of the CF Cryptocurrency Index Family- Single Asset Series. Full index methodology and governance documents can be found here.

"Traditional gold markets only operate Monday through Friday, so this new offering opens new opportunities for financial markets.” said Sui Chung, CEO of CF Benchmarks. “This is the first step of realizing the promise of the tokenisation of assets onto blockchains. Investors and traders will no longer have the traditional two-day hiatus after every Friday afternoon before being able to value their gold holdings.”

Paxos created a market-changing innovation when it introduced the PAXG token as well as the associated secure blockchain and physical infrastructure to store gold bars on behalf of token holders. CF Benchmarks will now build this and provide a benchmark price for PAXG.

Commenting on the launch “PAX Gold has the flexibility and accessibility of crypto assets, while representing physical, secure, vaulted gold–without storage fees. By offering a PAXG-USD price index, CF Benchmarks is making it easier for investors to get accurate pricing data 24/7, which has never existed before in the gold market,” said Paxos Head of Strategy Walter Hessert.

To learn more please visit www.cfbenchmarks.com

About CF Benchmarks

CF Benchmarks is the leading provider of cryptocurrency benchmark indexes, authorised and regulated by the UK FCA under EU BMR. Its benchmark indexes are provided through public methodologies and transparent governance for tracking, valuing and settling risk in cryptocurrency financial services and products. CF Benchmarks’ indexes have been used to settle over $200bn of cryptocurrency derivative contracts listed for trading by CME Group and Kraken Futures. They are also used by Wisdom Tree as the Indicative NAV for its Switzerland-listed Bitcoin ETP.

Contact: Sui Chung, CEO, CF Benchmarks – sui@cfbenchmarks.com +44 207 655 6099

About Paxos

Paxos is a New York-regulated financial institution on a mission to create a global, frictionless economy. By building infrastructure to enable the movement between physical and digital assets, Paxos is creating a future where all assets—from money to commodities to securities—are digitized and can move instantaneously, 24/7. Today, as the first regulated Trust company for digital assets, Paxos technology makes it possible to tokenize, custody, trade and settle assets. Paxos is the largest issuer of regulated stablecoins including Binance USD (BUSD), a white-label stablecoin offered through Paxos Stablecoin as a Service. Paxos products also include: Post-Trade Confirmation Service, which has been used to confirm over $2 trillion commodities and FX trades, and Paxos Settlement Service, a settlement platform for US listed equity securities. With offices in New York, London and Singapore, Paxos takes a global view of modernizing the financial system. Learn more at www.paxos.com.

Disclosure - CF Benchmarks Ltd. is a wholly owned subsidiary of Kraken, a provider of input data to the indices produced by CF Benchmarks

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell any of the underlying instruments cited including but not limited to cryptoassets, financial instruments or any instruments that reference any index provided by CF Benchmarks Ltd. This communication is not intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. Please contact your financial adviser or professional before making an investment decision.

CF Benchmarks Ltd (“CF Benchmarks”), a company registered in England and Wales with company number 11654816 and authorised and regulated by the Financial Conduct Authority. Information about us can be found on the Financial Services Register (register number 847100).

Registered Office: 6th Floor One London Wall, London, United Kingdom, EC2Y 5EB.

You agree not to, and have no rights to, use the CF Benchmarks Data to create, calculate, issue, settle, maintain, support or develop any financial instruments (including but, without limitation exchange traded products, certificates, warrants, contracts for difference, swaps, binary options, structured products), indices, products, services (including but without limitation, portfolio management services, pre- and post-trade risk management services, or valuation services) or any other derivative works without the express written consent of CF Benchmarrks.

You agree not to analyze, reverse-engineer or disassemble any CF Benchmarks data and not to insert any code or product to manipulate the Website content in any way that affects any user’s experience. Unless CF Benchmarks gives you prior written permission, use of any Web browsers (other than generally available third-party browsers), engines, scripts, software, spiders, robots, avatars, agents, tools or other devices or mechanisms (such as crawlers, browser plug-ins and add-ons, or other technology) to navigate, access, copy in bulk, retrieve, harvest, index, search or analyse any portion of the Website is strictly prohibited.

No part of this information may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of CF Benchmarks Ltd. Use and distribution of the CF Benchmarks data requires a license from CF Benchmarks or its authorized licensing agents.

All information is provided for information purposes only. All information and data contained on this website is obtained by CF Benchmarks, from sources believed by it to be accurate and reliable. Such information and data is provided "as is" without warranty of any kind.

CF Benchmarks, nor its directors, officers, employees, partners or licensors make any claim, prediction, warranty or representation whatsoever, expressly or implied, either as to the accuracy, timeliness, completeness or merchantability of any information or of results to be obtained from the use of the CF Benchmarks indices or the fitness or suitability of the same indices for any particular purpose to which they might be put. Any representation of historical data accessible through CF Benchmarks indices is provided for information purposes only and is not a reliable indicator of future performance.

No responsibility or liability can be accepted by CF Benchmarks nor their respective directors, officers, employees, partners or licensors for any loss or damage in whole or in part caused by, resulting from, or relating to any error (negligent or otherwise) or other circumstance involved in procuring, collecting, compiling, interpreting, analysing, editing, transcribing, transmitting, communicating or delivering any such information or data or from use of this website or links to this website.

CF Benchmarks and its respective directors, officers, employees, partners or licensors do not provide investment advice and nothing accessible through CF Benchmarks, should be taken as constituting financial or investment advice or a financial promotion. Charts and graphs are provided for illustrative purposes only. Index returns shown may not represent the results of the actual trading of any assets.

CF Benchmarks is a member of the Crypto Facilities group of companies which is in turn a member of the Payward, Inc. group of companies. Payward, Inc. is the owner and operator of the Kraken Exchange, a venue that facilitates the trading of cryptocurrencies. The Kraken Exchange is a source of input data for certain CF Benchmarks indices. Payward, Inc. is the owner and operator of the Staked, a venue that operates the block production nodes for decentralized PoS protocols on behalf of institutional investors. Staked.us is a source of input data for certain CF Benchmarks indices.

Please refer to the individual product family documentation for more information about applicable input data sources.