Gold Bits Coin is developing a digital currency that is backed by gold. They hope to create a digital asset with less price volatility that can be used as a medium of exchange. GBC is built on Ethereum. Their marketing materials are unclear about how much gold they have in reserve to back each Etherreum-based token.

PAX Gold is stablecoin backed by gold. Each PAX Gold token is backed by one troy ounce (t oz) of a 400 oz London Good Delivery gold bar that is stored in a physical vault. PAXG holders own the underlying physical gold that is held in custody by the Paxos Trust Company, which is a regulated financial institution. Paxos specializes in providing custody and infrastructure solutions that enable movement between physical and digital assets.