CoinFlip Bridges the Gap Between Digital and Physical Gold with the Introduction of Pax Gold (PAXG) to Its Network of 4,000 ATMS
The new listing will allow investors to buy physical gold, without the hassle of transport or storage, via tokenized asset at CoinFlip’s crypto ATMs and online Trade Desk
CHICAGO, March 28, 2023 /PRNewswire/ — CoinFlip, a leading fintech company powered by cryptocurrency, announces today that PAX Gold token (PAXG) is now listed and available for purchase across its network of 4,000 ATM kiosks in the United States and Puerto Rico, as well as the company’s online Trade Desk. By adding this valuable asset to its portfolio, CoinFlip is bridging the gap between digital and physical assets, enabling more people to invest in gold through PAXG tokens. With gold historically known as a smart investment choice and a hedge against inflation, CoinFlip is dedicated to making alternative investment options available for anyone looking to securely diversify their portfolio.
PAXG provides investors with a cost-effective means of owning investment-grade physical gold in a digital form, without the hassle of logistical shipping and storage challenges, aggressive fees, or security risks. Each PAXG token is backed by one fine troy ounce of gold stored in LBMA vaults in London. All investors can redeem their tokens for physical gold, fiat currency, or unallocated gold entitlements. As trades are conducted on the Ethereum blockchain, transactions can occur almost instantly through CoinFlip kiosks located across the United States.
“We’re thrilled to offer a way to purchase physical gold through our ATM kiosks and Trade Desk. Cryptocurrency is often referred to as “digital gold,” so providing a way to tokenize a physical asset offers a unique intersection between traditional investments in precious metals and the innovative world of cryptocurrency,” said Ben Weiss, CEO and Co-Founder of CoinFlip. “With spot gold prices reaching all-time highs and bitcoin approaching 9-month highs, PAXG provides investors a reliable way to diversify their portfolio beyond traditional financial institutions. CoinFlip is proud to make owning physical gold more accessible and secure for all.”
Despite rough market conditions, CoinFlip has seen significant growth in the last year nearly doubling its headcount and expanding its ATM presence globally to Puerto Rico, Canada and Australia. The company is projected to grow its team by 23% before the end of 2023 and has shown no signs of slowing down. CoinFlip increased revenue by $30 million from 2021 to 2022 and was named the No. 1 fastest-growing company in Chicago by Crain’s Chicago Business and ranked within the top 100 on the Inc. 5000, two years in a row.
For more information about CoinFlip, please visit www.CoinFlip.tech and join the conversation on Facebook, Twitter, Instagram and LinkedIn.
About CoinFlip:
CoinFlip is a leading fintech company powered by cryptocurrency. The company operates the world’s largest network of cryptocurrency ATMs by transaction volume with over 4,000 machines across 49 states, supporting the buying and selling of major cryptocurrencies with cash. In 2020, CoinFlip launched Trade Desk, an over-the-counter trading service that provides investors with a personal account manager and competitive coin pricing. CoinFlip became an international company in 2022 via expansion into Canada and has since also expanded to Puerto Rico and Australia. The company has amongst the lowest fees in the industry and provides 24/7 award-winning customer support.
CoinFlip was founded in 2015 by Daniel Polotsky, Kris Dayrit, Alan Gurevich, and Ben Weiss. Headquartered in Chicago, CoinFlip placed in the top 100 on the 2021 and 2022 Inc. 5000 list, and on the 2022 Deloitte Technology Fast 500, was named the 2021 and 2022 #1 fastest-growing company in Chicago by Crain’s and was awarded the 2021 and 2022 Stevie ® Awards for Customer Service. For more information about CoinFlip, please visit www.CoinFlip.tech.
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SOURCE CoinFlip
