What is the initial backing for the AABBG token release?

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The initial release of the AABBG token is backed by US$30 million in physical gold held by the company.

The AABB Gold (AABBG) cryptocurrency token, developed by Core State Holdings Corp (CSHC) and launched by Asia Broadband Inc (AABB), has an initial release backed by US$30 million (RM123 million) in physical gold currently held by the company. The token's price is designed to be tied to and supported by the company at a minimum of the market price of gold. As the price of gold fluctuates, the minimum supported price of the AABBG token will adjust accordingly, while its potential upside price will be influenced by market demand.
Token Purchase Requirements

To purchase AABBG tokens, users must update their AABB Wallet app to the latest version and successfully complete the Know Your Client (KYC) process. The tokens can only be bought in exchange for other major cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Purchasers are required to hold existing cryptocurrency in a third-party wallet, such as Coinbase or Binance, before depositing it into their AABB Wallet for the exchange.
Token Pricing Mechanism

Purchasers can acquire AABBG tokens by depositing cryptocurrency from their external wallets into their AABB Wallet. The exchange rate is based on the current price of 0.1 gram of gold, which is approximately US$5.60, plus a small transaction fee. The company has stated that the token price is supported at a minimum by the market price of gold, with fluctuations in gold prices directly impacting the token's minimum supported price.
Future Exchange Development

Asia Broadband Inc is currently collaborating with CSHC to develop its own proprietary cryptocurrency exchange. This upcoming platform is intended to enable AABB Wallet users to swiftly exchange their AABB Gold tokens for other major cryptocurrencies, further integrating the token into the broader digital currency market. Further details regarding the company and its developments are available on its website, www.AsiaBroadbandInc.com.

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What is the initial backing for the AABBG token release?

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