Will the AABB Gold Token Save El Salvadorians Millions in Transactions Fees?

Transaction Fees

The ever-changing crypto world favors companies that are willing to evolve and embrace these changes. One of such outstanding entities now is Asia Broadband, Inc. (OTC: AABB). The company is looking to create a presence in Central America and vouches for its 100% backed by gold hybrid AABB Gold (AABBG) token. Following the news that the government of El Salvador will be accepting cryptocurrencies, AABB is hoping to target retailers and other financial processing services to embrace the AABBG token. 

El Salvador joins other countries in the Central and South American region to recognize crypto as an asset and a medium of exchange in accepting cryptocurrencies for national transactions. In addition, its government is likely to adopt a crypto-focused economic growth model that AABB can participate in. 

The AABB Gold token can become instrumental in helping solve El Salvador’s banking issues. Currently, the country has a population of more than 70% that cannot access banking facilities. However, this population has access to mobile and internet services, making it a perfect candidate for using a crypto wallet like the AABB Wallet

El Salvador can gain from AABBG’s use for international remittance. The country has almost a fifth of its population living in the US. This population remits back money to the economy, accounting for nearly 20% of the GDP. However, there is the concern of high transaction fees. In addition, the service charges involved can also reduce the money by up to 50%. By using the AABB Wallet along with the AABBG token, El Salvador natives can save the money that would normally go towards transactions fees. Also, instead of waiting for days to receive their money, they will access it instantly. 

AABB Exchange Expected to Launch in September  

Asia Broadband, Inc. is launching a AABB crypto exchange, to be available on iOS, Android, and desktop in September 2021. The AABB crypto exchange will support the buying, selling, and storing of different crypto assets. The exchange will also allow the trading the native token with other popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin. 

Like other cryptos, AABB Gold token’s price movements will mirror the prevailing crypto market movements. The token price will potentially increase due to the increased demand after the launch of the exchange. The news of the expansion into Central America is likely to increase the token’s value and circulation. 

AABB understands that the users are looking for affordable and faster cross-border and retail transactions. For that, AABBG is well-positioned for use by retailers and the immigrant population remitting money back to El Salvador. 

For people who are relying on remittances, a significant reduction in transaction fees and the speed of transfers can drastically improve lives and open doors to new opportunities.  

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