Asia Broadband Goes Live Today With Sales of Gold-Backed Cryptocurrency Token
March 22 2021 - 8:00AM
InvestorWire
LAS VEGAS, March 22, 2021 (GLOBE NEWSWIRE) -- via InvestorWire
– Asia Broadband Inc. (OTC: AABB) (“AABB” or the
“Company”) is pleased to announce the sales launch
today of the Company’s AABB Gold (AABBG) cryptocurrency token
developed by Core State Holdings, Corp. (CSHC). In order to
purchase tokens, AABB Wallet users must update the app or download
to install the latest version of the app and pass the Know Your
Client (KYC) process. Within this new version of the AABB Wallet,
the token will only be available for purchase in exchange for other
major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
Therefore, purchasers will need to hold existing cryptocurrency
in any third-party wallet such as Coinbase or Binance. Purchasers
will then deposit cryptocurrency from their third party wallet into
their AABB Wallet to exchange and purchase the AABB Gold token
(AABBG) for the current 0.1 gram of gold price (approximately $5.60
USD) plus a small transaction fee. Support for users of the AABB
Wallet is available on the website www.AABBGoldToken.com and by
email to AABBWallet@gmail.com.
The initial token release is backed by $30 million in physical
gold the Company currently holds. At today’s market price of gold,
this initial token release available for purchase is 5.4 million
tokens at the one-tenth (0.1) gram of gold price (approximately
$5.60 USD) for each AABBG token. The token price is tied to and
supported by the Company at the market price of gold at a minimum.
As the price of gold fluctuates, the minimum supported price of the
AABBG token will increase or decrease, but the potential upside
price of the token will be driven by market demand.
The AABB Gold token (AABBG) is backed 100% by physical gold held
by the Company and additional releases of the token will continue
to be backed 100% by additional physical gold acquired from future
mining production, gold purchased from cash reserves or credit.
The launch version of the AABB Wallet will allow purchasers to
transfer AABBG tokens to others that also have the AABB Wallet, but
tokens will not initially be exchangeable within the AABB Wallet
for other cryptocurrencies. This inaugural version of the AABB
Wallet will allow the Company to increase token circulation and
accumulate revenues to be utilized for the support and
stabilization the token price when AABBG is freely exchangeable in
the open market.
The Company is currently developing, with CSHC, its own
proprietary cryptocurrency Exchange that will allow AABB Wallet
users to quickly exchange their AABB Gold tokens for major
cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. AABB
embraces a pioneering philosophy with its truly unique
Mine-to-Token vertical integration operational approach that
strives toward complete independence from FIAT currency.
AABB’s primary goal for the token is to become a worldwide
standard of exchange that is secured and trusted with gold backing,
by progressively expanding token circulation targeting large
population and high growth markets globally including China and
East Asia. The Company is collaborating with CSHC to roll out an
international marketing campaign for the AABB Gold token, AABB
Wallet and development of the corporate brand. The marketing
efforts are aimed to proliferate brand exposure and reputation,
increase the use of the AABB Gold token and the AABB Wallet, and
amplify general public and investment community awareness of the
Company.
About Asia Broadband
Asia Broadband Inc. (OTC : AABB) is a resource company focused
on the production, supply and sale of precious and base metals,
primarily to Asian markets. The Company utilizes its specific
geographic expertise, experience and extensive industry contacts to
facilitate its innovative distribution process from the production
and supply of precious and base metals in Mexico to client sales
networks in Asia. This vertical integration approach to sales
transactions is the unique strength of AABB that differentiates the
Company and creates distinctive value for shareholders. The Company
has recently released its freshly minted mine-to-token gold-backed
cryptocurrency AABB Gold token (AABBG) and strives to become a
world-wide standard of exchange that is secured and trusted with
gold backing, an outstanding quality relative to other
cryptocurrencies. Visit www.AsiaBroadbandInc.com and www.AABBGoldToken.com
Contact the Company at:
Investor Brand Network
General Email: ir@asiabroadbandinc.com
Token Support Email: AABBWallet@gmail.com
Company
Website:
www.asiabroadbandinc.com
Token Website: www.AABBGoldToken.com
Phone: 702-866-9054
Forward-Looking Statements are contained in this press
release within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are based on the Asia
Broadband Inc.’s (the “Company”) expected current beliefs about the
Company’s business, which are subject to uncertainty and change.
The operations and results of the Company could materially differ
from what is expressed or implied by the statements made above when
industry, regulatory, market and competitive circumstances change.
Further information about these risks can be found in the annual
and quarterly disclosures the Company has published on the OTC
Markets website. The Company is under no obligation to update or
alter its forward-looking statements as future circumstances,
events and information may change.
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
Source:
NetworkNewsWire
Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
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