While some altcoins have been losing it big today, ABBC Coin (ABBC) is doing fantastic. Alibabacoin ABBC Coin has seen over 30% price increase at some point today, jumping to the 66th position in the coin market.
The digital asset is changing hands at $0.153187 USD after seeing over 23% gain in the last 24 hours.
The progress is coming few months after a United State federal court turned down Alibaba Group Holdings Ltd.’s lawsuit filed against a Dubai cryptocurrency company Alibabacoin Foundation purposely to bar it from using the Alibaba name for its Alibabacoin digital currency.
A ruling by Judge Paul Oetken at the Southern District of New York overruled the Alibaba’s motion on jurisdictional basis, maintaining that it fell short of provable evidences to confirm that using Alibabacoin as a brand would affect Alibaba’s business opportunities across New York or would affect its trademarks in the region.
Afterward, another court turned the ruling down, stating that ABBC Coin change its name immediately.
With the help of blockchain technology, ABBC is proudly designed for distribution, finance, shopping, and security.
The digital asset is planning to launch facial recognition blockchain payment system in nothing less than 20 Shopping malls this 2019 Q1.
ABBC is fashioned for combining global platforms. International companies and even small shop operators can use a single facilitated payment system in a more safe way using cryptocurrencies through the help of ABBC Foundation’s online shopping and crypto exchange business.
ABBC Coin ecosystem is made of an innovative e-learning platform that covers a wide spectrum of financial topics that are not limited to cryptos, trading, the stock exchange, financial analysis and some others.
ABBC Coin is widely regarded as a digital asset profit-sharing system centered on delivering life-changing values.
The launch of ABBC Coin signals the beginning of crypto adoption, however, the lawsuit it was first faced with made the coin appear like something that will die too soon.
In the past, there were widespread rumour that Alibaba Group China is acquiring ABBC Foundation, but the rumour is not true as stated by the Chief Executive Officer of ABBC Foundation, Jason Daniel Paul Philip.
In a statement made by the CEO purposely to disprove the rumour, it was mentioned that the foundation only discussed with Alibaba Group China on the settlemt of the trademark fight brtween the two.
Jason Daniel Paul Philip said:
“After all the controversies regarding the name of our company and the constant disclaimers we put about not being related to the Chinese Alibaba Group”. Some people and media have misunderstood it as a possible acquisition by Alibaba Group, however, there is no such discussion about it, as of now.”