On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

Asia Broadband Inc. (AABB) Inches Closer to Fulfilling its Strategic Vision and Goal

  • Asia Broadband Inc. recently signed a letter of intent (“LOI”) to acquire a 200-hectare property housing two gold mining sites, a processing facility and existing infrastructure
  • The property, estimated to be worth about $30 million, is part of the bigger picture as the company is expected to launch a 100% gold-backed token soon to diversify its revenue generation streams
  • The company outlined its AABB Gold Token’s characteristics in a recent news release

Asia Broadband (OTC: AABB), a resource company focused on the production, supply, and sale of precious and base metals, primarily to Asian markets, has made strides on several fronts since its February 2021 development update on the soon-to-be-launched AABB Wallet and AABB Gold token. According to recent news releases, AABB signed a letter of intent (“LOI”) to purchase an historic production gold mine property and on-site processing facilities in the prolific mining region of Mascota in Jalisco, Mexico, and also clarified the exact characteristics of the AABB Gold token (“AABBG”).

The signed LOI sets the wheels in motion for the eventual acquisition of the 200-hectare property, located about 3 kilometers from Barra de Navidad – a small town on the western coastline of Mexico’s Jalisco state – subject to further due diligence and negotiations. The property houses two mine sites, a 50-ton per day processing facility and other existing infrastructure (https://ccw.fm/apWgv).

In total, Asia Broadband is expected to pay about $30 million for the property, an investment that will bring the company closer to fulfilling its strategic vision and goal. Fundamentally, AABB aims to differentiate itself from its competitors as well as increase shareholder value by launching a gold-backed digital currency, wallet and exchange. It will back its gold token with physical gold acquired from future mining production, such as mining sites at the 200-hectare property, and gold purchased from cash reserves or credit. So, the purchase is part of a bigger picture.

Per its February development update, AABB’s wallet and token developer Core Holdings Corp (“CSHC”) was at an advanced stage of testing the wallet applications on both iOS and Android, in addition to continuing the enhancement of AABB’s gold token website. The developer had also begun the creation of AABB’s cryptocurrency exchange (https://ccw.fm/RuJkf).

With the information on the progress of the development of AABB’s wallet and exchange already in the public domain, Asia Broadband sought to provide a similar level of clarity regarding its gold token. In the March 9 news release (https://ccw.fm/Tho6u), AABB pointed out that its cryptocurrency token will have the following characteristics:

  • AABBG will be backed 100% by physical gold held by AABB
  • At present, AABB holds $30 million in physical gold
  • AABB will release approximately 5.5 million tokens in the initial token release
  • The price of each token will be equivalent to the current price of one-tenth (0.1) gram of gold plus a 2% transaction fee
  • The price of each token will be tied to and supported by AABB at the market price of gold at a minimum
  • The minimum supported price of AABBG will increase or decrease according to the fluctuation in the price of gold
  • The price of AABBG will also be driven by market demand
  • Purchase of AABBG will be through AABB Wallet
  • Buyers will need to hold existing cryptocurrencies to purchase AABBG
  • Purchase of AABBG will be finalized upon depositing existing cryptocurrencies from third-party wallets into AABB wallet in exchange for AABBG
  • AABB Wallet will allow the intra-wallet transfer of AABBG between purchasers and people with AABB Wallet
  • AABBG tokens will not be exchangeable within the AABB Wallet for other cryptocurrencies

Being a source of shareholder value, the AABB Gold token is a strategic offering aimed at diversifying the company’s revenue. AABB will rely on two revenue-generating streams: transaction fees and the token’s market-demand-driven price appreciation. The company anticipates that an increase in the token circulation will boost the revenue earned from transaction fees, its primary stream.

At the same time, AABB is banking on the limited release of the tokens as well as the expanded use and velocity of token exchanges as the main drivers of growth for its secondary stream. Notably, gold-backed tokens are attractive investment options because they offer more stability than other digital currencies (https://ccw.fm/VEV8h), suggesting that Ethereum-based AABBG is bound to appeal to cryptocurrency enthusiast upon launch.

Asia Broadband’s objective is for AABBG to become a worldwide standard of exchange that is secured and trusted with gold backing. With the recent announcement regarding the LOI, AABB’s strategic approach and AABBG’s attractiveness as a gold-backed token due to its inherent stability, the conditions seem favorable for the company to actualize this goal.

For more information, visit the company’s website at www.AsiaBroadbandInc.com.

NOTE TO INVESTORS: The latest news and updates relating to AABB are available in the company’s newsroom at https://ccw.fm/AABB

About CryptoCurrencyWire (“CCW”)

CryptoCurrencyWire (CCW) is a financial news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with CCW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness.

To receive instant SMS alerts, text CRYPTO to 77948 (U.S. Mobile Phones Only)

CryptoCurrencyNewsWire is where News, content and information converge via Crypto.

For more information, please visit https://www.CryptoCurrencyWire.com

Please see full terms of use and disclaimers on the CryptoCurrencyWire (CCW) website applicable to all content provided by CCW, wherever published or re-published: http://CCW.fm/Disclaimer

CryptoCurrencyWire (CCW)
New York, New York
www.CryptoCurrencyWire.com
212.994.9818 Office
Editor@CryptoCurrencyWire.com

CryptoCurrencyWire is part of the InvestorBrandNetwork.

Share This Page

Archives

Select A Month

Official NewsWire Relationships

Anarchapulco Main Event Blockchain Africa Conference Blockchain Futurist Conference Blockchain Life Conference Blockchain Shift Coingenius Coinvention CryptoBlockCon EVOLV - evolve.events Finovate The North American Bitcoin Conference Virtual Blockchain WeekThe Voice of Blockchain World Crypto Conference

CryptoCurrencyWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 212.994.9818