CommPRO Editorial StaffNexo, a leading firm in the crypto lending space, is adding the NYDFS-regulated PAX Gold as a collateral option for its Instant Crypto Credit Lines, bringing gold-backed lending to the blockchain.With PAX Gold, a digital token on the Ethereum blockchain, representing a physical amount of gold held in the vaults of London-based Brink, Nexo now offers gold investors instant access to their gold wealth in over 45 fiat currencies via same/next day transfers and across 200+ jurisdictions.The company will be adding PAX Gold for its ‘Earn Interest’ product that will pay up to 8% per year of interest on gold. This value proposition makes Nexo the only financial institution in the world to pay interest on gold in kind."There's a lot of overlap in the mentality between the crypto world and those who hold gold," said Paxos’ CEO Chad Cascarilla. "What you now have is the liquidity, divisibility, and transferability of crypto, while owning gold."While Kosta Kantchev, co-founder of Nexo, commented: “Gold bugs proliferate the crypto community and the Nexo-Paxos offering now enables them to do what until now was only available to high-net-worth individuals via Lombard credits on large quantities of physical gold - accessing the value of gold without selling it”.He added that for generations now, the ultra-wealthy were purchasing large quantities of physical gold, which was used as collateral for credit lines. The proceeds were then used to buy even more gold and/or diversify into other asset classes, essentially leveraging physical gold position and accessing its value without selling.With PAX Gold allowing fractional ownership of gold in а frictionless manner via blockchain technology, the same concept is available for as little as a few hundred dollars. Nexo accepting the digital representation of gold as collateral makes what was previously reserved to the privileged ones available en mass to all.This move represents a larger disruptive trend of tokenizing the world that will see commodities, stocks and bonds, real estate, fine art, and any other asset class being brought on-chain to be owned, traded, exchanged and borrowed against.Source: Blockchain Wire