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The entry of cryptocurrencies into the financial sector is one of the most revolutionary inventions. For some time, the global financial system seemed all aligned with the fiat currencies at the helm. The governments seemed to be so much in control as they controlled supply and value.
The same stability was with the stock market. Assets like gold had cemented their place as the most valuable. Gold also worked perfectly as a backup asset. All this almost changed with the entry of blockchains and cryptocurrencies.
While cryptocurrencies have become the best alternative to fiat currencies and the traditional stock market, they suffer from volatility. The AABB Gold token (AABBG) is looking to infuse the cryptocurrency with gold for more stability. Follow through for everything you need to understand about AABBG gold token and how the developing company seeks to establish it in Central and Southern America.
What is AABBG Gold Token and how do you buy it?
Even though cryptocurrencies have shifted the financial markets, they struggle from volatility. The market prices of the crypto assets change so fast, that it can happen within seconds. To solve the issue, Asia Broadband, Inc. (OTC: AABB) launched a gold-backed cryptocurrency; the AABB Gold token.
AABBG is a hybrid cryptocurrency backed by 100% physical gold. It gains from the price appreciation from the cryptocurrency features while keeping stability due to the gold properties. While the token is not necessarily a stablecoin, it shares stability characteristics. Every AABBG token is backed by 0.1g of the gold spot price.
AABB launched the token in March 2021, to unprecedented success. The token sold more than $1 million within the first two weeks after it became available. The initial coins released are backed by physical gold worth $30 million. The coin is developed on the Ethereum platform and has a maximum supply of 5.4million AABBG tokens.
The project comes with a unique mine-to-token concept as the source of the tokens. This becomes viable with the traditional third-party backing it gets from gold.
To buy the AABBG token, you have to download the AABB Wallet then create an account. You then click “convert” on the first page you encounter and go through the Know Your Client (KYC) process. Send funds to the wallet from the supported payment methods which you can then use to purchase the AABB Gold tokens on the platform. After the purchase, you can either hold the tokens or send them to other AABB wallet accounts.
To better understand how the AABB Gold token operates, you need to look more into the AABB Wallet. Launched in March 2021, the AABB wallet is where to safely keep the AABB Gold tokens. It does not collect any user data and all transactions are secure from any third-party access.
The wallet is still in the preliminary stages where it supports the transfer of the AABBG tokens from one AABB Wallet to another. The earlier stage is ideal to improve token circulation to help the system generate revenue it will use for stabilization once the token is available for trade in the wider crypto market.
The AABB Wallet comes with various unique features. It supports quick transactions as you send and receive the tokens instantly. It charges no deposit fees and very low transaction charges. The wallet is security conscious and supports anonymous transactions. The multiple level security through PIN code and passphrase protection makes it ideal for holding the assets.
The wallet allows you to send funds to friends and family or for business. It also comes with iTransfer features that allow you to send or receive the AABB Gold token through SMS, email, or social media.
Bitcoin Adoption in Central America
Since the launch of the cryptocurrency, Central and South America have been the leaders in adoption. El Salvador has since become the first country in the world to accept Bitcoin as a legal tender. The move is a major Bitcoin milestone and impacts the whole cryptocurrency ecosystem. Various companies in the crypto sector must now look for ways to take advantage of the developments. As expected, AABB is among the companies that are looking to establish its crypto-asset; AABB Gold token.
AABB is looking to establish itself in the crypto-focused economy of El Salvador. It will be targeting retailers and other payment processing service producers to accept the AABBG Gold token for transactions.
El Salvador’s current economic and social setup makes it the best place to establish the token. First, more than 70% of the country’s population has no access to banking services. However, this same group has access to mobile devices and the internet. Given the population can access virtual wallets, they can take advantage of the new token for banking services.
Also, over 2 million Salvadorans are working in the US. This population remits around $5 billion per year to the country, a representation of 20% of its GDP. The major concern, however, is the cost of transactions. A lot of money is lost when sending and receiving the funds. They end up with less money than they would have received, at times up to 50% less. The AABB Gold token is an ideal solution due to the low transaction fees. It is also very fast to transact, as it offers instant transactions.
AABB is developing a comprehensive business development program to help onboard retailers on its system. It has designed a commission and discount incentives-based program for the retailers. The possibility of earning from operating the AABBG token will attract more traders and users in the country.
The prospects of AABB becoming established in El Salvador go beyond its token. It comes with various added advantages like job creation. The company is not only expanding the token and exchange use cases in the country but also making it its operational base. It is planning to open a physical satellite office in the country which will serve as its business and development hub for its Central and Southern America operations. This will lead to several job opportunities for the locals.
The successful El Salvador establishment would mean AABB will spread to the other Southern American countries quickly. It is then likely to move to other countries around the world. All these countries enjoy the benefits of a new token that assures fast and low-cost financial transactions.
Looking ahead to the future of AABB Gold Token
While the expansion to the Central and South American market might seem the ultimate milestones, AABB is expected to undertake several developments in the future. The company is currently working on launching a Spanish version of the AABB Wallet. It is also working on its own proprietary cryptocurrency exchange for the AABBG token.
The crypto exchange will allow the token holders to complete two-way transactions of the AABB Gold token with other major cryptocurrencies like Bitcoin, Litecoin, and Ethereum. The exchange will come with increased revenue from transaction fees and other trading options.
The exchange development is likely to be complete by mid-August and will go live in September. It will support two trading options. The first is the quick exchange that allows for the trading of one currency for another asset at the best price offered on the platform. The other option will be the advanced exchange which allows traders to set manual sell or buy orders at selected prices.
The various trading options will allow for convenience to deploy different trading strategies for better gains by the same trader. The platform will initially support 20 cryptocurrency trading pairs for exchange with the AABB Gold token. AABB will then keep on the development trajectory. It will invest to eventually transition the AABB Gold token exchange into a next-level modular digital assets exchange. By then it will be in a position to offer various financial modules like crypto-secured loan issuance, connecting retail chains, and offering credit/gift cards.
The other factor that works well for the future of the AABB Gold token is the relevance of Gold. For the longest time gold has been the standard measure of stability in the financial industry. Up until the 1970s, the US dollar was backed against gold. While the rise of cryptocurrency had threatened the place of gold, it remains superior due to its stable value. The AABB Gold token will draw its stability from gold. Even though its value is subject to demand and supply, it is likely not to be as volatile as the other non-backed assets. The token is likely to operate more like a stablecoin. For example, no matter the market movement, USDC is ever equal to $1.
Besides the exchange, AABB is also undertaking some improvements that will still impact the token. It is working on the blockchain network upgrade to ensure instant transactions display on the user accounts. While built on the Ethereum platform, it will eventually move to the Ripple (XRP) network for reduced transaction fees due to increased network bandwidth.
Before then, it can still depend on the planned Ethereum network upgrade to ETH 2.0. The new network will improve transaction speeds on the Ethereum platform which means all other applications on the network will upgrade. The newer version will also allow easy adding of other assets on the exchange hence more trading pairs.
The AABBG Gold token is headed for a high price valuation in the long run. As with any other cryptocurrency, the token depends on the market movement based on demand and supply for value. The more the demand, the more stretched the supply hence higher value.
AABB’s main goal is that the AABB Gold token becomes the world’s standard of exchange secured with gold backing for security. As the AABB exchange takes shape, it will attract more users due to the increased trading options. Its use in retail and other money transfer services also makes it an ideal token for those hoping to avoid fiat current limitations.
Given the future of the AABBG Gold token, right now is the best time to invest if you are looking for a long-term trading position.
Who is Asia Broadband, Inc.
Asia Broadband, Inc. (OTC: AABB) defines itself as a resource company that produces, supplies, and sells precious and base metals, primarily to the Asian markets. The company is a revolution in the process of mining the base and precious metals from the Mexican fields before selling them to the Asian markets. It utilizes its geographical expertise, extensive industry contacts, and experience for a seamless production and distribution system.
Unlike other financial outfits, AABB uses a vertical integration approach in its sales transactions. The approach makes it one of the most valuable as it creates distinct value for shareholders.
The gold-backed AABBG token is one of its latest investments. After years of working in the precious and base metals sector, it is best placed to make it work with the relatively new crypto assets. Being operational within various regions, AABB understands how to grow a project to reach worldwide success.
The success of the AABB gold token launch is a sign of the other great things to come from the project. No other currency currently offers the gold-backed features of the AABBG. Only the stablecoins coins come close. However, they still struggle with regulations and acceptance. Most of the crypto users don’t believe stablecoins have the physical backing of the dollar as claimed. This gives AABBG an edge over them due to the trust of users.
El Salvador’s acceptance of Bitcoin as legal tender along the USD is the launchpad for the AABB Gold token not only in the country but also in the whole of Central and Southern America. The crypto-focused economy makes it easier to integrate the various retailers and other financial processing services. Even though currently still low on value, the coin will develop into a formidable asset with several use cases. That is to say, AABBG is currently one of the most undervalued crypto projects.
