Combining the liquidity and decentralization of cryptocurrencies with the financial stability of gold has become a reality through Asia Broadband, Inc.’s (OTC:AABB) AABB Gold token. The company is touting the new cryptocurrency as having the stability quality of a stablecoin with the token price supported by a minimum of 0.1 grams spot price of gold with a current value of $6.09 USD.
Asia Broadband is a high-margin resource company focused on producing, supplying and selling precious and base metals to primarily Asian markets. The company has focused on the acquisition of highly prospective gold projects in established mining camps in Mexico. The company has $100 million in assets and holds physical gold that back the AABBG 100%, drawn from the company’s mining production segment.
AABBG, which is housed on the Ethereum blockchain, became available in March 2021, selling more than $1 million in its first two weeks of launch. AABBG being backed by gold ensures pricing stability and at the very least, low volatility with the value based on market demand and gold assets.
In September 2021, thanks to the partnership between Core State Holdings Corp. and Asia Broadband, Inc., AABB’s next-level modular digital assets exchange will be available, making AABBG tradeable for other cryptos. The exchange will be capable of implementing various modules, including broker modules, functionality allowing for the issuance of crypto-secured loans, a credit or gift card module and one that connects retail chains.
Once the proprietary exchange is launched, the company believes AABBG will have the same potential for price appreciation as major cryptocurrencies, like Bitcoin, based on market demand combined with the limited supply of tokens in circulation.
With the rise of gold and the slow descent of Bitcoin, AABBG has become a prime focus for the company. Asia Broadband is betting that as the price of gold slowly increases, so will AABBG, making it ideal for storing investments and making a sale or purchase-related transaction.
People can purchase AABBG by downloading the AABB Wallet app from the iOS or Android store. You can get more information on the Asia Broadband gold token here.
We are six months into the year, and the cryptocurrency market has been on a wild ride. Record highs have been hit by most of the top ten cryptos by market cap, followed by huge pullbacks of over 50%.
In the more serene world of old-school finance, gold has been quietly doing what gold always does, watching the fun and slowly increasing in value while everybody else goes crazy. Gold may lack some of the built-in excitement that trading cryptos brings with it, but it’s a historically great bet against inflation, and the price chart is almost always trending in the right direction.
The problem with gold is that owning it can be quite a challenge physically. This can be because of your geographical location or concerns about safely storing it later on. The idea of holding physical gold may appeal, but the reality brings with it several complications.
In this context, it’s easy to see why gold-backed crypto projects are experiencing such a surge in popularity. Instead of worrying about physically holding the gold, you can now purchase crypto-backed gold. In some cases, you may redeem the tokens for actual gold. While in others, you simply trade in and out of the token when it’s time to take profit or buy some more.
With the price of these cryptos tied to that of gold, a large part of the wider crypto market volatility is negated. While the steady growth in the spot price of gold is rewarded in the same way as if you had a vault full of it in your study.
Here’s a quick breakdown of three of the most interesting gold-backed crypto projects in 2021.
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