All that glitters can be gold with a new hybrid cryptocurrency. The AABB Gold Token by Asia Broadband, Inc is backed by gold mines and $30 million in physical gold reserves.
Cryptocurrency has proven itself to be a force to be reckoned with through the course of the Great Recession of 2020. According to Investopedia, Bitcoin and cryptocurrency prices skyrocketed to new highs in 2020 by as much as 200 percent, as fears of macroeconomic instability drove investors towards new asset classes. Crypto has also proven to be more than just a bubble, as 2021 is also turning out to be the year of the cryptocurrency. As stated by Statista,
…its explosion in value in 2021 can find its roots in October 2020, therefore the growth we see in this focus on 2021 is only really the tip of the iceberg. When counting from the first 7 days of October, Bitcoin has since grown by 426 percent.
So does that mean cryptocurrency can officially be considered mainstream? The answer is—somewhat. It is on the right track as it is working itself into the mainstream financial world, but it naturally still has its fair share of skeptics due to the volatility that is tied to the arena. This is where hybrid cryptocurrencies come into play.
Hybrid Cryptocurrencies: A New Gold Standard
Hybrid cryptocurrencies combine the positive features of centralized and decentralized exchanges while also addressing their respective shortcomings, offering perks that investors expect: usability, liquidity, anonymity, and security. One of the greatest benefits of hybrid crypto exchanges is the fact that the assets are not held in hot wallets. This makes cyber-attacks improbable, as funds are placed in cold storage.
Hybrid cryptocurrencies can also take form in unique applications, as seen in the case of the AABB Gold Token, a hybrid cryptocurrency backed by gold mines owned and operated by Asia Broadband, Inc (OTC: AABB). They are a Las Vegas-based resource company focused on the production, supply, and sale of precious and base metals to primarily Asian markets. They created AABB Gold in the spirit of merging gold stability with crypto innovation.
In the first two weeks of its launch, $1 million worth of AABBG tokens were sold. In May, Asia Broadband’s token website received over 9k users. The company has sold 245,412 tokens since March 2021, and they have a circulating supply of $5.4 million. The company has $100 million in assets and recently retired 107 million shares. The AABBG is backed by 100 percent physical gold due to the company’s vertically integrated mine-to-token concept, which is one of a kind due to the vertical integration.
Through AABB Gold, an ERC-20 gold-backed token, & through the AABB Wallet, Asia Broadband expects to become a leader in the world in providing a standard of exchange of excellent quality, secure, and transparent trusted by physical gold. Gold-backed tokens can benefit from both cryptocurrency and gold qualities while still having the ability to appreciate in value on both markets.
Practical for the Novice Investor
Novice investors can take comfort in the fact that AABB Gold can serve as a comfortable gateway into the world of crypto. This unification of crypto with blockchain provides individuals opportunities to invest in gold without storing physical gold.
The minimum token price is linked to the current spot price of gold, implying that the token advantages from the gold’s lower volatility than the cryptocurrency market, providing a sense of stability. The bull case for gold remains intact, owing to fears of depreciated fiat currencies, and AABBG could climb due to rising gold prices. While the price of gold fluctuates, market demand will determine the token’s potential upside price.
The AABB wallet enables investors to instantly send AABB Gold and other cryptos by email, SMS, or social media. It also securely manages B2B and B2C transactions and can be used as the main currency for all gold-related transactions.
Additionally, unlike most other gold-backed token projects, Asia Broadband, Inc. has extensive knowledge of the precious metals business. Beginning with mining, in association with the production process, gives an innovative network that stretches from acquiring gold projects in Mexico to large client sales networks in Asia. Global sales partnerships boost the potential for AABBG demand.
As cryptocurrencies continue making waves across numerous spaces and places worldwide, now is the time for investors to look into options such as AABB Gold, especially while it’s still early in the game.