Tokenized gold can now back a Coinbase loan. The price feed takes weekends off

Paxos launched its gold-backed PAXG token on Base on Nov. 6, adding another network for tokenized gold as Coinbase now lists the asset as eligible collateral for borrowing the USDC stablecoin. The launch extends PAXG beyond Ethereum and Solana to the Coinbase-incubated layer-2 network.Each full PAXG token represents one fine troy ounce of physical gold held in custody, according to Paxos's product site. Holders can own fractions of a token, giving them exposure to smaller quantities of gold.Lending protocol Morpho said Coinbase users can now borrow against PAXG through a new market on Base without leaving the exchange’s app. That gives holders a route to raise stablecoin liquidity against their gold exposure rather than selling the token to obtain cash.Paxos's announcement described Coinbase Borrow among integrations expected in the “weeks ahead,” subject to product availability, although Morpho's same-day announcement described borrowing as live.01 / THE COLLATERAL ROUTE1fine troyouncePhysical gold in custodyPAXGLive on BaseUSDC loanCoinbase / Morphobackspledgedas collateralBorrowing adds debt and liquidation riskRoute described by Morpho; Coinbase lists PAXG collateral. Access re...