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AABB Transitions GoldAxis Wallet, Urges Self-Custody
Asia Broadband (AABB) is switching GoldAxis wallet providers after operational failures and Phase 2 delays, urging users to move digital assets to self-custody wallets.
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Asia Broadband (OTC: AABB) is switching the technology provider behind its GoldAxis Wallet after a review found the current infrastructure could not meet the company's security and reliability standards in time. The company recommended that all GoldAxis users transfer their digital assets to an independent self-custody wallet until the new platform becomes available.
“As our responsibility is to guarantee the security, reliability and quality of service of the GoldAxis platform for our users, it became clear for us that the transition to a new service provider was inevitable when the additional standards of infrastructure, operation and service could not be provided in a timely manner and with the continued delays in the development of Phase 2,” said Chris Torres, AABB President and CEO. “For the time being, we are advising our users to maintain their digital assets in an independent self-custody wallet.”
The decision follows several months of operational and reliability problems with the current wallet technology. Development of Phase 2 of the GoldAxis Wallet also faced repeated delays, raising concerns about the timeline and execution quality, the company said.