Asia Broadband Reintroduces Convert Feature Within the AABB Wallet to Purchase AABBG Gold-Backed Tokens

Rhea-AI Summary

Asia Broadband Inc. (OTC: AABB) has reinstated the Convert feature in the AABB Wallet, allowing users to buy AABBG gold-backed tokens using other cryptocurrencies. The feature had been disabled for enhancements to the AABB Exchange. The AABBG token is backed by $30 million in physical gold, with a current market backing of about $5.50 per token. Future releases will also be gold-backed. The company aims for independence from fiat currency through its Mine-to-Token model. Additionally, the PayAABB online payment processing solution is set to launch soon.

Positive

• Reinstatement of AABB Wallet's Convert feature allowing cryptocurrency exchanges.
• AABBG token backed by $30 million in physical gold, enhancing investor confidence.
• Future tokens will continue to be 100% gold-backed, supporting stability.

Negative

• None.

LAS VEGAS, July 27, 2022 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has reinstalled the Convert feature within the AABB Wallet to allow users to purchase AABBG gold-backed tokens in exchange for other cryptocurrencies. The Convert feature was temporarily disabled several months ago to facilitate the further development of the Company’s AABB Exchange.

The launch of the Company’s AABB Wallet in 2021 introduced its AABBG token’s initial release to the market that is backed by $30 million in physical gold the Company currently holds. Any future token releases will continue to be backed 100% by additional physical gold acquired from the Company’s future mining production, gold purchased from cash reserves or credit. At today’s market price of gold, the one-tenth (0.1) gram of gold backing the AABBG token price is approximately $5.50 USD. 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. However, the potential upside price of AABBG will be driven by market demand.

Through the AABBG token and AABB Exchange, the Company embraces a pioneering philosophy with its truly unique Mine-to-Token vertical integration operational approach that strives toward complete independence from FIAT currency.

In other news, the highly anticipated launch of the Company’s online payment processing solution PayAABB is expected in the coming weeks.

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. Additionally, the Company has added a digital assets business segment and released its AABBG freshly minted mine-to-token gold-backed cryptocurrency within its AABB Wallet and a proprietary digital exchange AABBExchange. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies.

Contact the Company at:
General Email:	ir@asiabroadbandinc.com
Exchange Support:	https://aabbexchange.com/faq/
Token Support:	https://aabbgoldtoken.com/faq/aabb-wallet/
	www.AABBGoldToken.com/support/
Company Websites:	www.asiabroadbandinc.com
	www.AABBExchange.com
	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. 

FAQ

What is the significance of AABB Wallet's Convert feature reinstatement?

The reinstatement enables users to purchase AABBG gold-backed tokens with other cryptocurrencies, enhancing usability.

How much gold backs the AABBG token?

The AABBG token is currently backed by $30 million in physical gold.

When will the PayAABB online payment processing solution launch?

The launch of PayAABB is expected in the coming weeks.

How does AABB's Mine-to-Token model benefit investors?

The model aims for complete independence from fiat currency, providing a unique investment framework.