- Asia Broadband Inc., an experienced producer of precious metals is adding key gold mine property acquisitions in Mexico, while concurrently developing a proprietary cryptocurrency exchange
- The exchange will build a mechanism for holders of its gold-backed AABBG token to trade with major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin
- The AABBG tokens launched in March, backed by $30 million in physical gold from the company’s properties
- The company reports it achieved several milestones in regard to the exchange’s development during the past month that were related to its network, platform, design and algorithms
- Asia Broadband expects to test the exchange in August and go live with it in September
Asia Broadband (OTC: AABB), a precious and base metals producer intent on developing a proprietary cryptocurrency exchange following the launch of its gold-backed AABBG cryptocurrency token, is reporting progress on the exchange’s creation. The company is backing its entry with $30 million in physical gold from its properties in Mexico, with the price of each token tied to whatever the existing price of one-tenth (0.1) gram of gold may be plus a 2 percent transaction fee (https://ccw.fm/iZpv7).
The AABBG token has dual advantages to purchasers. Though not a “stablecoin”, the token has stablecoin-like stability properties in that it is backed and supported by the company at minimum the .1 gram spot price of gold. Additionally, the token will also have…
NOTE TO INVESTORS: The latest news and updates relating to AABB are available in the company’s newsroom at https://ccw.fm/AABB
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