Asia Broadband (OTC: AABB), a resource company focused on the production, supply and sale of precious and base metals, today specified the characteristics of the company’s AABB Gold (“AABBG”) cryptocurrency wallet and token developed by Core State Holdings Corp. (“CSHC”). According to the update, the AABBG token is backed 100% by physical gold held by the company in several high security, private locations in Mexico. AABB will continue to back the token 100% by additional physical gold acquired from future mining production and gold purchased from cash reserves or credit. The initial token release will be backed by $30 million in physical gold the company currently holds. At today’s gold price, the initial release will be approximately 5.5 million tokens at the one-tenth (0.1) gram of gold price for each AABBG token. The token price will also be tied to and supported by AABB 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, and the potential upside price of the token will be driven by market demand.
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About Asia Broadband Inc.
Asia Broadband 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 is also releasing its freshly minted mine-to-token, gold-backed cryptocurrency AABB Gold token (“AABBG”) and expects to become a worldwide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies. For more information, visit www.AsiaBroadbandInc.com.
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