LAS VEGAS, Nov. 12, 2020 (GLOBE NEWSWIRE) — Asia Broadband Inc. (AABB), through its wholly owned subsidiary Asia Metals Inc., announced today that the Company has signed a Memorandum of Understanding (MOU) and has agreed to the terms of a development agreement with a digital assets and crypto wallet creator to produce a gold-backed cryptocurrency coin. AABB is continuing its discussions with the developer to plan the details of the design, branding, implementation and milestone events schedule for the gold-backed crypto coin under the agreed terms prior to initiating the development process. Viewed as a revenue diversification project to create liquidity and monetize gold production, the Company is excited to release further details of the gold-backed crypto coin project next week after the definitive development agreement is completed.
AABB is planning to market its branded gold-backed cryptocurrency coin extensively to large population and high growth markets worldwide including India and China. The economic fundamentals of India’s high demand and interest in physical gold and China’s expanding use of its national digital currency and digital wallets could naturally lend themselves to the future use of a AABB’s gold-backed cryptocurrency coin.
Asia Broadband Inc. (OTC : AABB), through its wholly owned subsidiary Asia Metals Inc., is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Guerrero, Mexico, to our client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of Asia Broadband and differentiates the Company to its shareholders.
Contact the Company at:
Email: [email protected]
Parkin Investor Relations
Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.