Asia Broadband Pursues AABBG Token Business Development in Central America As El Salvador Adopts Bitcoin As National Currency

Rhea-AI Summary

Asia Broadband (OTC: AABB) is advancing its business strategy in Central America, focusing on the El Salvador market to enhance demand for its AABBG token. The company aims to secure agreements with major retailers for AABBG transactions, alongside launching a Spanish version of the AABB Wallet. With El Salvador's adoption of Bitcoin as legal tender, approximately 70% of its 6 million inhabitants lack bank accounts but have mobile access, presenting a significant opportunity for AABBG. Furthermore, remittances to El Salvador, worth $5 billion annually, could benefit from the cost-effective and rapid cryptocurrency transfers.

Positive

• Expansion into El Salvador presents a new market for AABBG.
• Establishment of partnerships with major retailers could increase AABBG circulation.
• Significant cost savings expected for users in remittances with cryptocurrency.

Negative

• None.

LAS VEGAS, June 15, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company is proceeding with plans to establish a presence in Central America and build a demand for the AABBG token in El Salvador. AABB will be targeting major Salvadoran retailers to engage in acceptance and processing agreements for customer purchases with AABBG.

The business development program is designed to afford substantial commission and discount incentives for retailers and customers to fulfill transactions with AABBG and facilitate circulation expansion. The creation of a Spanish version of the AABB Wallet and upcoming exchange is planned with the AABBG developer and will be initiated as soon as possible. Also, AABB expects to open a satellite office in El Salvador in the near future to serve as the Company’s Central and South American hub for AABBG business development and marketing.

El Salvador’s recent adoption of and movement toward Bitcoin as the country’s legal tender has created a cryptocurrency-focused economy and a tremendous growth opportunity for AABBG and the AABB Wallet. With a Salvadoran population of more than 6 million, approximately 70% are without bank accounts or credit cards but do have the cell phones and internet access required for digital wallet use. Additionally, there are more than 2 million Salvadorans living in the US that send approximately $5 billion USD annually to El Salvador—a figure amounting to more than 20% of the country’s GDP. These USD remittances are time consuming to send and receive and can cost up to 50% in total fees and services charges. Alternatively, the easy access, inexpensive and quick transfers of cryptocurrency through digital wallets will offer significant cost and time savings to the transacting parties and potentially provide hundreds of millions of dollars in economic benefits to El Salvador.  

https://www.etftrends.com/2021/06/el-salvador-just-adopted-bitcoin-as-legal-tender-heres-why-other-countries-may-follow-suit/

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 worldwide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies.

Contact the Company at:
InvestorBrandNetwork
General Email:	ir@asiabroadbandinc.com
Token Support :	www.AABBGoldToken.com/support/
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

FAQ

What are Asia Broadband's plans for AABBG in El Salvador?

Asia Broadband aims to establish retail partnerships in El Salvador to promote the use of its AABBG token and enhance customer transactions.

How does the cryptocurrency landscape in El Salvador affect AABB?

The adoption of Bitcoin as legal tender in El Salvador presents a favorable environment for AABB's cryptocurrency initiatives, particularly for AABBG.

What is the potential market size for AABBG in El Salvador?

With over 6 million residents in El Salvador, the presence of a largely unbanked population offers substantial growth opportunities for AABBG.

How might AABB benefit from remittances sent to El Salvador?

AABB could tap into the $5 billion in annual remittances to El Salvador, providing cost-effective cryptocurrency transfer solutions.