Asia Broadband Begins Strategic Development Of Silver-Backed Cryptocurrency, as Mining Operations Silver Production Expands and Silver Price Fundamentals Strengthen
LAS VEGAS, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company recently began the planning and development of a new silver-backed cryptocurrency token expected to be launched early next year. The Company’s continued increases in quarterly silver production, along with numerous silver market price growth fundamentals, led to management’s commitment to create a new silver-backed token. World governments’ inflationary policies and Samsung’s plans to mass produce a silver-based electric vehicle (EV) batteries are just a few of the major demand influences that are expected to drive a silver price rally for years to come. Furthermore, approximately half of the Company’s quarterly mining production is silver, which will expand immensely when the new ore stockpile processing plant begins throughput operations in Etzatlan, Mexico. AABB began the accumulation of silver bullion from its production in the third quarter of this year to back the new AABBS silver token release, in the same way as the Company created its gold-backed AABBG cryptocurrency.
“With so many strong economic forces moving in the direction of higher silver demand and prices, we are excited to prepare for the launch of our silver-backed token at such a favorable and strategic time. Additionally, we will be ramping up our production of silver and gold considerably when our new stockpile processing plant begins operating at Etzatlan,” stated Chris Torres, AABB President and CEO.
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company's industry and business integration in Mexico and its asset diversification are unique strengths of AABB that differentiate it from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its own proprietary AABB Wallet and the unique Golden Baboons Mining Club and Shorts Rascal Club Non-Fungible Token (NFT) collections. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies and digital asset developers.
Contact the Company at:
| General Email: Token Support: Company Websites: | |
| Phone: | 702-866-9054 |
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.
