Will the AABB Gold Token Save El Salvadorians Millions in Transactions Fees?
Companies that are willing to grow and embrace these changes will benefit from the always shifting crypto environment. Asia Broadband, Inc. is one of the most notable companies in the world right now (OTC: AABB). The company is seeking to establish a foothold in Central America, and it stands behind its AABB Gold (AABBG) token, which is 100 percent backed by gold and is a hybrid token. Following the announcement that the government of El Salvador will accept cryptocurrencies, AABB is attempting to persuade merchants and other financial processing firms to accept the AABBG cryptocurrency.
El Salvador has joined the ranks of other countries in the Central and South American area that have recognised cryptocurrency as an asset and a medium of exchange by allowing cryptocurrencies for use in domestic transactions. Furthermore, its government is likely to embrace a crypto-focused economic growth model in which AABB can participate, which will benefit the company.
To help El Salvador resolve its banking problems, the AABB Gold token may prove to be quite beneficial. Currently, more than 70 percent of the country’s population does not have access to financial services or institutions. This population, on the other hand, has access to mobile and internet services, making it an excellent candidate for the use of a cryptocurrency wallet such as the AABB Wallet.
El Salvador can benefit from the adoption of the AABBG for overseas remittances. The United States is home to nearly one-fifth of the country’s total population. This demographic contributes to the economy by remitting money back to it, which accounts for roughly 20% of the GDP. High transaction fees, on the other hand, are a source of concern. In addition, the service fees that are charged can reduce the amount of money by up to 50% of the total. El Salvador residents can save money by using the AABB Wallet in conjunction with the AABBG token, which eliminates the need to pay transaction fees in the traditional sense. Additionally, instead of having to wait for days to receive their money, customers will be able to access it immediately.
AABB Exchange Expected to Launch in September
AABB Exchange is an acronym that stands for American Association of Business and Industry. To Be Available in September 2021, Asia Broadband, Inc. will establish an AABB cryptocurrency exchange, which will be available on mobile devices such as iOS and Android as well as computers. It will be possible to purchase, sell, and store a variety of various crypto assets through the AABB crypto market. The native token will also be able to be traded with other major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, according to the exchange.
The price of the AABB Gold token will fluctuate in tandem with the rest of the cryptocurrency market, just as it does with other cryptocurrencies. Following the opening of the exchange, there is a possibility that the token price would rise as a result of greater demand. The announcement of the company’s expansion into Central America is anticipated to raise the value and circulation of the token.
The AABB realises that users are eager for cross-border and retail transactions that are both inexpensive and expedient. The AABBG is well-positioned to be used by retailers and the immigrant population remitting money back to El Salvador in order to accomplish this.