Asia Broadband Inc. (OTC: AABB) stock has started the week with an impressive rise of +65.34% to close at $0.2710 at the ring of the bell on Monday. About 188M shares of AABB stock changed hands on the day in absence of any significant news that could be moving the stock up.
What’s going on in the AABB?
The Asia Broadband is an international mining company with its primary focus on precious and base metal production, supply, and sale mainly to Asian markets. In addition to its strong geographic and industry expertise, it also possesses vast contact networks, which facilitates the innovative distribution of precious and base metals across the globe from Mexico to Asia.
This month, Asia Broadband responded to stakeholders’ and users’ questions about its AABB Gold (AABBG) cryptocurrency wallet and token developed by Core State Holdings, Corp. Some of the characteristics of the AABBG are as follows:
- Physical gold will be backing 100% of each AABB Gold token (AABBG).
- This gold is held in several high securities, private locations in Mexico by Asia Broadband.
- Gold reserves or credit will continue to be committed as collateral for the token.
- Physical gold worth $30 million will be used as collateral for the initial token release.
- Tokens will be issued at one-tenth of a gram of gold and will be available for approximately 5.5 million tokens at this price.
- A minimum price of the token will be attached to the gold price and will be supported by the AABB.
- The AABBG token’s minimum supported price will fluctuate as the price of gold fluctuates, however, its potential upside price will be dependent upon market demand
- Tokens can only be purchased using major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin within the AABB Wallet.
- As a result, buyers must already have existing cryptocurrency in an exchange or other third-party wallets like Coinbase or Binance.
- To buy AABB Gold Token, purchasers use cryptocurrency from their third-party wallet to deposit bitcoin (or any other cryptocurrency) into their AABB Wallet.
- After completion of the final stages of testing, the AABB will release the token and make it available for sale.
What AAB will be getting?
For Asia Broadband (AABB), a project like this has the potential to create financial leverage, liquidity, and monetization of potential gold production in the future. Moreover, transaction fees and price appreciation will also be driving the AABB Gold token’s revenue model.