NetworkNewsBreaks – Asia Broadband Inc. (AABB) A
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Posted On: 03/09/2021 4:21:35 PM
NetworkNewsBreaks – Asia Broadband Inc. (AABB) Announces Characteristics of Gold-Backed Crypto Token
Asia Broadband (OTC: AABB), a resource company focused on the production, supply and sale of precious and base metals, today specified the characteristics of the company’s AABB Gold (“AABBG”) cryptocurrency wallet and token developed by Core State Holdings Corp. (“CSHC”). According to the update, the AABBG token is backed 100% by physical gold held by the company in several high security, private locations in Mexico. AABB will continue to back the token 100% by additional physical gold acquired from future mining production and gold purchased from cash reserves or credit. The initial token release will be backed by $30 million in physical gold the company currently holds. At today’s gold price, the initial release will be approximately 5.5 million tokens at the one-tenth (0.1) gram of gold price for each AABBG token. The token price will also be tied to and supported by AABB 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, and the potential upside price of the token will be driven by market demand.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Asia Broadband (OTC: AABB), a resource company focused on the production, supply and sale of precious and base metals, today specified the characteristics of the company’s AABB Gold (“AABBG”) cryptocurrency wallet and token developed by Core State Holdings Corp. (“CSHC”). According to the update, the AABBG token is backed 100% by physical gold held by the company in several high security, private locations in Mexico. AABB will continue to back the token 100% by additional physical gold acquired from future mining production and gold purchased from cash reserves or credit. The initial token release will be backed by $30 million in physical gold the company currently holds. At today’s gold price, the initial release will be approximately 5.5 million tokens at the one-tenth (0.1) gram of gold price for each AABBG token. The token price will also be tied to and supported by AABB 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, and the potential upside price of the token will be driven by market demand.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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