Asia BroadbandInc. (OTC: AABB) is a resources company centered on the production, supply and sales of metals, with a primary focus on the Asian market. They acquire promising gold projects in Latin America and distribute products through their extensive global sales network.
Asia Broadband now has more than $100 million in assets, a 500% increase from last year. The company is in consolidation mode and hit a new high in February, sending shares up more than 1,500% year-to-date.
Recently, the company Announced receipt of $2.8 million. Their new source of funding came from the four directors of Asia Broadband for the purchase of preferred shares.
The 28 million shares of non-convertible preferred stock, issued at $0.10 per share, have 100 votes and participate equally with common stock in all future dividends.
Asia Broadband President and CEO Chris Torres purchased $2.4 million of the total preferred stock offering and stated: “Our entire management team is committed to the company’s growth and profitability, which we have underscored through substantial long-term investments to drive the expansion of our gold production and digital asset divisions. With our capital contributions, we have The focus and determination to succeed is now enhanced.”
All funds received will be allocated to Asia Broadband’s capital expansion plans.
In addition to metal trading, Asia Broadband also has several digital asset fields, including digital asset wallets and gold-linked digital assets.
Last year, Asia Broadband launched its own digital asset wallet called AABB wallet. The wallet is designed to keep your digital assets safe and data private. AABB wallets do not collect any data and every transaction made through them is completely invisible to third parties.
AABB Wallet is open for trading and purchases to those who wish to transfer AABB Gold Tokens (AABBG) to other AABB Wallet users.This is done to increase AABB Gold Token Once AABBG is publicly tradable, circulate and generate revenue to support and stabilize the token price.
This wallet has many great features that make it a unique choice among other digital asset wallets. This includes sending and receiving digital assets instantly, with no deposit fees and low transaction fees. The iTransfer feature allows users to securely send AABB Gold and other digital assets via email, text, social media, and more.
The wallet will also release merchant API functionality, allowing B2B and B2C transactions using the AABB wallet. This feature will allow merchants to build loyalty programs while also allowing customers to earn cash back.
Finally, Asia Broadband is developing an online digital asset payment processing solution that allows businesses to accept global digital assets from their sites.
Mentioned previously AABB Gold It is the digital asset of Asia Broadband, backed by physical gold. Pegging to gold allows the asset to benefit from the properties of both gold and digital assets, ensuring that it maintains the price appreciation potential of both markets.
While AABB Gold is a traditional digital asset, it has the qualities of a stablecoin. The token’s price is backed by a spot price of at least 0.1 gram of gold and is backed by $30 million in physical gold.
The most unique aspect that sets AABB Gold apart from other digital assets is its vertical integration of Mine-to-Token gold support. Asia Broadband holds physical gold assets to fully back the company’s mining production arm of tokens.
As the company grows, it will continue to optimize the use of its capital by implementing its mining production and acquisition strategies in the Mexican region. Additionally, the company’s digital asset divisions, such as AABB Gold Token, AABB Wallet, AABB Exchange and NFTs, will continue to expand and develop at an accelerated rate over time.