Asia Broadband (OTCMKTS:AABB) stock is trading lower in the opening session on Thursday after the news.
Market Action
As of 10:41, AABB stock down by 5.29% at $0.1610. The stock has traded 9.77 million shares, compared to its average volume of 51.97 million shares. The stock opened at $0.1710 and moved in a range of $0.1600 – 0.1727.
Asia Broadband Proprietary Cryptocurrency Exchange Development Update and Distinctive Features
- 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.
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