Asia Broadband reported an increase in its assets by 500% – Bits Media

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Asia Broadband сообщила об увеличении своих активов на 500% - Bits Media

on 500% – Bits Media />

Asia Broadband Company, mining precious metals in Latin America and owner of the AABB Exchange cryptocurrency exchange, reported a fivefold increase in capital.

Asia Broadband (AABB), engaged in the extraction and sale of precious metals, announced an increase in the company's assets to $100 million, What's on 500% more, than last year. The company is trading in consolidation mode and reached new highs in February 2022 of the year, as a result, the share price increased by more than 1 500%. Additional contribution to company financing – approx. $2.8 million – was received through the issue and sale 28 million non-convertible preferred shares of the Asia Broadband directorate.

“Our management team is confident in the company's growth and profitability, and we have made long-term investments, to drive the development of our gold and digital assets divisions", - Chris Torres said (Chris Torres), President AABB.

In addition to precious metals mining, the company is developing several areas in the field of digital assets, including the AABB Wallet mobile application for the AABB Exchange cryptocurrency exchange and AABB Gold, its own digital asset with a physical link to gold.

Кошелек AABB Wallet позволяет продавцам цифровых активов создавать программы лояльности, а также реализовать функции Merchant API для совершения транзакций B2B и B2C. AABB Gold has the qualities of traditional digital assets and stablecoins. Its price is maintained at no less than 0.1 grams of the spot price of gold and is backed by the integration of Mine-to-Token gold collateral worth approx. $30 million.

In February, cryptocurrency market data provider Kaiko reported, that amid high inflation and ongoing geopolitical tensions, the popularity of gold-backed stablecoins is growing. According to Kaiko experts, largest stablecoins by trading volume, backed by gold, steel PAX Gold (PAXG) with a market capitalization of $420 million and Tether Gold (XAUT) with a market capitalization of $200 million.