What network is PAXG on?

Could you please elaborate on the network that PAXG, or Physically-Backed Gold Token, operates on? Given the nature of this digital asset being physically backed by gold, it's crucial to understand the technological underpinnings that facilitate its transactions and ensure its security. I'm particularly interested in knowing if PAXG utilizes a blockchain-based network and if so, which one specifically. Additionally, I'm curious about the benefits and considerations of this choice in terms of scalability, decentralization, and overall efficiency for users and investors alike.