LAS VEGAS, June 03, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has continued to achieve numerous development milestones in the initial months of building its proprietary cryptocurrency exchange (the “Exchange”). Subsequent to the recent launch of the Company’s AABBG gold-backed token, created with developer Core State Holdings, Corp. (CSHC), AABB’s own proprietary cryptocurrency Exchange version of AABB Wallet has been under development. The Exchange will allow AABB Wallet users to complete quick two-way exchanges of their AABB Gold tokens for major cryptocurrencies such as Bitcoin, Ethereum and Litecoin. The proprietary Exchange will also add tremendously to transaction fee revenues and allow for the price appreciation of AABBG beyond the price of gold, influenced by market demand and the limited supply of tokens released into circulation.
After several months of development, the Exchange completion timeline is on path for testing in mid-August with the live Exchange launch expected in early September. At that time, users will have two forms of exchange available for transactions. The Quick Exchange will allow for the rapid trade of one currency for another at the best offered price and the Advanced Exchange will allow users to manually set buy or sell orders at a selected price.
The Exchange will also have at least 20 trading pairs and the major cryptocurrencies also being paired with AABB Gold (AABBG) token. With the recent rise in gold, and decline of major cryptocurrencies, AABBG has become a promising currency. As gold increases in price, so does the minimum price of AABBG, making it an ideal store of value investment and future method of payment for purchase transactions.
Subsequent to the Exchange launch, the continued development collaboration between CHSC and Asia Broadband, Inc. will facilitate the creation of a next-level modular Digital Assets Exchange. It will be capable of implementing various modules, including broker modules, functionality allowing for the issuance of crypto-secured loans, a credit/gift card module, and a module that connects retail chains.
Concluding the second month of the Exchange development has led to the completion of the following milestones and the imminent uploading of new versions of the AABB Wallet application to the iOS and Android platforms that will include the updates below:
– Blockchain network upgrade will allow users to instantly display transactions on their account
– Upgrade to add the Ripple (XRP) network to increase the platform’s bandwidth to reduce the direct fees charged to users and the platform
– Entire Ethereum network upgrade and all 16 tokens, including AABBG, to increase throughput, transaction speed and allow adding any token to the Exchange to create another trading pair for AABBG
– Know Your Customer optimization is completed and a new KYC form will…