CryptoMedium•9 November 2026•
1 min read
Paxos Launches Gold-Backed PAXG on Base as Coinbase Borrow Collateral
Key Facts
1Paxos has launched its gold-backed PAXG token on Coinbase's Layer-2 network, Base.
2PAXG is set to become the first non-crypto collateral in the Morpho-powered Coinbase Borrow lending product.
Paxos has launched its gold-backed PAXG token on Base, the Layer-2 network incubated by Coinbase. According to CoinMarketCap, PAXG is set to become the first non-crypto collateral asset in the Morpho-powered Coinbase Borrow lending product, providing users with new options for borrowing against real-world assets.
The integration aims to expand the utility of tokenized assets within the Coinbase ecosystem, as each PAXG token represents one fine troy ounce of physical gold. In equity markets, COIN closed at $134.76 on November 6, 2026, having reached a session high of $139.28.