Gold-backed tokens can benefit from both gold and cryptocurrency features while maintaining the potential for price appreciation from both markets. While AABBG is not a stablecoin, it has the stability of a token price supported at 0.1 grams of the spot price of gold.
October 10, 2021
Since the infancy of the cryptocurrency trading market, developers have had an interest in creating a gold-backed digital currency. To have that type of digital currency means you link 1 token or coin to a specific quantity of gold. The gold is then held in reserve, usually by a third party. The significant advantage of having a gold-pegged digital currency is that the baseline or minimum value of the token will always be equal to the fixed amount of gold. The gold-backed digital currencies offer protection against a considerable drop in value. So how do new investors looking for more stable cryptocurrency investment opportunities find an avenue to these gold-backed digital assets?
One company that has connected cryptocurrency and precious metal assets is Asia Broadband Inc. (OTC: AABB), which focuses on the production, supply, and sale of precious and base metals. The company employs an innovative distribution process that has led to the release of its AABB Gold (AABBG) freshly minted mine-to-token gold-backed cryptocurrency and is developing its proprietary digital exchange. AABB expects its token to become a worldwide standard of exchange that is stable, secured, and trusted with 100% physical gold.
You can learn more about AABB Gold Token and the AABB Wallet at www.aabbgoldtoken.com.
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