LAS VEGAS, April 06, 2021 (GLOBE NEWSWIRE) — via InvestorWire — Asia Broadband Inc. (OTC: AABB) (â€œAABBâ€ or the â€œCompanyâ€) is pleased to announce that the Company has recorded over $1 million in AABBG Gold Token sales within the first two weeks after the token became available for sale on March 22. The initial two weeks of token sales have allowed the Companyâ€™s AABBG token developer, Core State Holdings, Corp. (CSHC), to monitor and refine the information and transaction processing to validate token sales operations. Now that the sales verification phase is complete, the Company is proceeding to implement an international marketing campaign aimed to proliferate brand exposure, increase token sales and AABB Wallet transactions and amplify public and investment community awareness of the Company.
AABBâ€™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 to the primary sales markets of North America and Europe and expand globally to other predominant and high growth market areas.
The Company is now 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. The proprietary Exchange will add tremendously to transaction fee revenues and allow for the price appreciation of AABBG, influenced by market demand and the limited supply of tokens released into circulation.
The current version of the AABB Wallet allows purchasers to transfer AABBG tokens to others who also have the AABB Wallet, although tokens will not initially be exchangeable within the AABB Wallet for other cryptocurrencies. However, this initial version of the AABB Wallet enables the Company to increase token circulation and accumulate revenues to be utilized for the support and stabilization of the token price when AABBG is freely exchangeable in the open market. AABB embraces a pioneering philosophy with its truly unique Mine-to-Token vertical integration operational approach that strives toward complete independence from FIAT currency.
The initial token release is backed by $30 million in physical gold the Company currently holds and will continue to be backed 100% by additional physical gold acquired from future mining production, gold purchased from cash reserves or credit. At todayâ€™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.
Support for users of the AABB Wallet is available on the token website www.AABBGoldToken.com and on the support page www.AABBGoldToken.com/support/
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.
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|Token Support :||www.AABBGoldToken.com/support/|
Forward-Looking StatementsÂ 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.â€™s (the â€œCompanyâ€) expected current beliefs about the Companyâ€™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.
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