Ever since the introduction of cryptocurrencies, stability has been one of the worst challenges. The crypto market is so volatile that it can change in minutes. Also, it can be affected by both the traditional market supply and demand factors and other external forces. For example, the movement on the traditional stock market impacts the crypto market. A rising stock market devalues the cryptos as investors take their money to the stocks from the crypto market.
With the volatility of cryptos, traders can never be sure of the security of their assets. You might be worth a million dollars in a minute, then rise further to hundreds of millions before crashing to even lower amounts you might have never imagined. This has made some traders grow cold feet towards cryptos. Most who invest are the ones who have the money they are willing to lose.
Now, what if there is a solution to the volatility concerns? A more stable token that allows you to gain from the cryptos without the accompanying volatility risks. Well, that is what Asia Broadband, Inc. (OTC: AABB) seeks to achieve with its AABB Gold Token (AABBG). The company has launched new crypto with its value supported by 100% physical gold. For every 1 AABBG token, there is a 0.1 gram spot of gold.
Asia Broadband is a high-margin resource company that produces, supplies, and sells precious and base metals, mainly in the Asian markets. In March 2021, they launched their AABBG token. It was such a success, selling more than $1 million in the first two weeks after the launch.
The token’s backing by gold means its price is pegged to that of the physical gold. Given the high stability of gold, the token is more stable than the other cryptos like Ethereum. Still, the token is open to price rise depending on the market demand.
Most of the most successful cryptocurrencies rely on top-notch marketing; AABBG is no different. The company is currently embarking on an international marketing campaign for brand exposure and to increase token sales. It also hopes to increase the AABBG wallet transactions and widen public awareness for more investments in its crypto asset.
Expanding into the Latin American market
El Salvador has recently approved cryptocurrencies as a legal tender. Asia Broadband looks to take advantage of the surge that comes with the increased crypto access and transactions.
With around 6 million people in El Salvador, up to 70% lack access to banking facilities. This is in contrast to the widespread mobile and internet services access. The population will then use their gadgets to access the cryptos as their preferred financial services.
The other issue is with money remission. The country has over 2 million of its people staying in the United States. This population sends back money to the country, making up almost 20% of its GDP. The money, however, gets reduced by almost 50% due to the service charges. It also takes longer before the recipients receive their cash. However, with the AABBG, they won’t have to struggle with the high cost of transactions and the long waits. AABBG is all about instant transactions without any increased charges.
AABB plans to build an open satellite office in El Salvador that will act as its gateway to the Central and South American market. It will use the office as its marketing and business development base. The office creation follows the earlier development of a Spanish version of the AABB Wallet.
The planned launch of the AABB Exchange
Around September, the company looks to launch their proprietary crypto exchange. This will be a crypto trading platform where traders can exchange AABBG tokens with other cryptos like Bitcoin, Bitcoin Cash, and Litecoin. The platform will support the buying, selling, and storing of the various crypto assets.
Even though the crypto exchange might face competition from the existing crypto exchanges like Binance and Coinbase, it is likely to gain a considerable market share. The company has invested in aggressive marketing to attract most of the unbanked population. The AABBG token is also a superior cryptocurrency due to its stability.
The launch of the exchange could not come at a better time. After some time of the sustained bull run, Bitcoin has, in recent times, been on a decline. The changes have since made gold become a better asset investment option. As the value of gold grows, AABBG is likely to rise due to its 100% gold backing. As such, it’s safe to say, AABBG is the crypto of the future.