LAS VEGAS, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) ("AABB" or the "Company") is pleased to announce that the Company recently began the planning and development of a new silver-backed cryptocurrency token expected to be launched early next year. The Company's continued increases in quarterly silver production, along with numerous silver market price growth fundamentals, led to management's commitment to create a new silver-backed token. World governments' inflationary policies and Samsung's plans to mass produce a silver-based electric vehicle (EV) batteries are just a few of the major demand influences that are expected to drive a silver price rally for years to come. Furthermore, approximately half of the Company's quarterly mining production is silver, which will expand immensely when the new ore stockpile processing plant begins throughput operations in Etzatlan, Mexico. AABB began the accumulation of silver bullion from its production in the third quarter of this year to back the new AABBS silver token release, in the same way as the Company created its gold-backed AABBG cryptocurrency.
"With so many strong economic forces moving in the direction of higher silver demand and prices, we are excited to prepare for the launch of our silver-backed token at such a favorable and strategic time. Additionally, we will be ramping up our production of silver and gold considerably when our new stockpile processing plant begins operating at Etzatlan," stated Chris Torres, AABB President and CEO.
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