Crypto derivatives exchange Deribit is building on the success of its recent addition, Pax Gold, as it explores expanding into asset-backed crypto products.
Within its first week, PAXG trading on Deribit exceeded $250 million in notional value, signaling strong interest in gold-backed tokens among traders, according to company executives.
In an interview with Benzinga, Shaun Fernando, Chief Risk Officer and Head of Product Strategy at Deribit, described the debut as aligned with market demand.
“There’s significant overlap between gold and crypto traders,” he said, adding, “PAXG provides stability and flexibility, making it a natural fit for our platform.”
PAXG, backed 1:1 by LBMA-accredited gold reserves, offers traders several advantages, including 24/7 trading, no management …
Full story available on Benzinga.com