AABB – Asia Metals Inc. Signs Memorandum of Understanding To Proceed With Gold-Backed CryptoCurrency Coin Development Agreement

LAS VEGAS, Nov. 12, 2020 (GLOBE NEWSWIRE) — Asia Broadband Inc. (AABB), through its wholly owned subsidiary Asia Metals Inc., announced today that the Company has signed a Memorandum of Understanding (MOU) and has agreed to the terms of a development agreement with a digital assets and crypto wallet creator to produce a gold-backed cryptocurrency coin. AABB is continuing its discussions with the developer to plan the details of the design, branding, implementation and milestone events schedule for the gold-backed crypto coin under the agreed terms prior to initiating the development process. Viewed as a revenue diversification project to create liquidity and monetize gold production, the Company is excited to release further details of the gold-backed crypto coin project next week after the definitive development agreement is completed.

AABB is planning to market its branded gold-backed cryptocurrency coin extensively to large population and high growth markets worldwide including India and China. The economic fundamentals of India’s high demand and interest in physical gold and China’s expanding use of its national digital currency and digital wallets could naturally lend themselves to the future use of a AABB’s gold-backed cryptocurrency coin.