PANews reported on December 17 that crypto derivatives trading platform Deribit announced a partnership with Paxos to launch Pax Gold (PAXG) trading on December 16, 2024, including spot, perpetual contracts, futures and options trading. PAXG is an ERC-20 token issued by Paxos, and its value is pegged 1:1 to each ounce of physical gold in a London LMBA certified vault. Deribit's PAXG trading volume exceeded $250 million in the first week. Through this partnership, investors can use PAXG for cross-collateralization and create strategies to hedge market volatility and generate returns.