Deribit Partners With Paxos to Launch Pax Gold Futures and Options Trading

Deribit will now offer spot, perpetual, futures and derivatives for the PAXG token.

December 16, 2024 – Dubai, UAE – Deribit, the world’s premier digital assets derivatives exchange, today announced it has added support for the Pax Gold (PAXG), a token created by Paxos that is backed 1:1 by a fine troy ounce of LMBA good delivery gold vaulted in London. By adding PAXG to its platform, Deribit empowers traders to diversify their portfolios and hedge against market volatility. PAXG offers a unique opportunity to gain exposure to gold, a traditional safe-haven asset, within the digital asset ecosystem.

Within the first week of launch, Deribit trading volume exceeded a quarter billion USD in notional value for gold, underscoring the growing demand for trading traditional assets on the blockchain.

The partnership between Deribit and Paxos will allow investors to trade high-quality products that until now were missing in the crypto ecosystem, such as liquid gold options. PAXG also increases the versatility of Deribit’s cross-collateral feature by giving users more choice over the assets they hold as collateral.

Deribit CEO Luuk Strijers said, “With the addition of Pax Gold, users can now leverage the perpetual or dated futures for the usual delta one strategies, or they have the choice to generate yield, hedge, or create various different strategies with the options. We are committed to providing Deribit users with a wealth of options, offering flexibility that matches their risk profile.”

PAXG is an ERC-20 token from Paxos backed by 1:1 with LMBA accredited gold reserves, offering investors a cost-effective way to own investment-grade physical gold in digital form. Deribit now offers a range of PAXG products, including spot, perpetual, futures and options contracts. This range of products will enable traders to construct their portfolios to deal with potential market volatility, inflation and geopolitical risks.

Nick Robnett, Head of Asset Growth at Paxos, added, “Pax Gold is a blockchain asset where each individual token is backed by an ounce of real, physical gold. It offers all the benefits of physical gold with the convenience and mobility of digital assets. Through Deribit, traders can now gain seamless access to the highest-grade physical gold held in custody by Paxos.”

Deribit’s commitment to providing cutting-edge trading solutions is further demonstrated by its recent achievements, including the launch of a hybrid custody model and the attainment of SOC 2 Type 2 certification. These advancements, combined with the addition of Pax Gold, solidify Deribit’s position as a leading platform for professional traders.

About Deribit

Deribit is a centralized, institutional-grade crypto derivatives exchange for options and futures trading based in Dubai, United Arab Emirates. Deribit’s state-of-the-art infrastructure offers instantaneous price discovery, low latency trading, advanced risk mitigation services, and deep liquidity via its network of top-tier market makers. Led by a team with decades of experience in options trading across all markets, Deribit facilitates a significant majority of all crypto options trading and has robust proof of assets and liabilities procedures to ensure the exchange is held to the highest of standards. Deribit has been consistently acknowledged as a leader in space as one of few exchanges to secure the ISO 27001 certificate and was named Best Exchange for Innovation by Hedgeweek.

About Paxos

Paxos is the leading regulated blockchain infrastructure and tokenization platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way.

Paxos partners with leading global enterprises to tokenize, custody and trade assets. Its blockchain solutions are used by leaders like PayPal, Interactive Brokers, Mastercard, Mercado Libre and Nubank. Paxos is licensed to engage in virtual currency business activity by the NYDFS and is the issuer of numerous regulated digital assets including PayPal USD (PYUSD), Pax Dollar (USDP) and Pax Gold (PAXG). Paxos Digital Singapore is the issuer of Global Dollar (USDG), a USD-backed stablecoin that powers the Global Dollar Network and is substantively compliant with MAS’ upcoming stablecoin regulatory framework. Prudentially regulated by the NYDFS in the US, the MAS in Singapore and FSRA in Abu Dhabi Global Market, Paxos is a top-funded fintech company with more than $540 million raised from leading investors including Oak HC/FT, Declaration Partners, Founders Fund, Mithril Capital and PayPal Ventures.

Media Contact

M Group Strategic Communications (On behalf of Deribit): [email protected].