One of the most influential Asian fintech heavyweights, Asia Broadband, offers a Gold-backed cryptocurrency token to help investors hedge against increased volatility.
New Gold-backed token on Ethereum (ETH): Introducing AABBG
AABBG, the latest addition to the global ecosystem of stablecoins, is fully backed by real-world Gold (XAU) stored by its issuer, Asia Broadband, Inc.
Asia Broadband, Inc. is a flagship company in the segment of real-world assets trading; its aggregated AUM (assets under management) metric is over $100 million in equivalent. As such, its assets are backed by a solid basket of “safe haven” assets despite the unmatched volatility of crypto markets in this Crypto Winter cycle. The firm is also an official partner of a high-grade gold mine in Buen Pais, Mexico.
To protect investors from this volatility, in 2021, Asia Broadband, Inc. issued AABBG, a Gold-backed stablecoin on Ethereum (ETH), the largest smart contracts network. AABBG is an ERC-20 token; initially, it was backed by $30 million in real-world Gold (XAU).
Over recent months, due to increased demand, Asia Broadband, Inc. minted additional batches of AABBG tokens: its circulating supply eclipsed $5.4 million.
Building multi-product ecosystem for Web3 enthusiasts
On its Web3 journey, Asia Broadband, Inc. has released a number of products to accompany AABBG token and integrate it into a one-stop hierarchy of products. Meanwhile, AABBG remains the backbone of its ecosystem as it underpins its tokenomic design.
Namely, Asia Broadband, Inc. helmed the development of AABB Wallet, a new-gen crypto storage and exchange instrument designed for holders of Bitcoin (BTC) and major altcoins. AABB Exchange is set to guarantee all enthusiasts of Asia Broadband, Inc.’s ecosystem a secure, low-cost and resource-efficient permissionless exchange of digital assets.
Last but not least, PayAABB Payment Gateway is set to introduce Web3 payment instruments to no-coiners and real-world businesses worldwide. Asia Broadband, Inc. ecosystem expects various entrepreneurs to integrate PayAABB Payment Gateway into their e-commerce websites.
The hotly anticipated PayAABB Payment Gateway stack’s release is expected to be announced as soon as July 2022.