Last year, Monaco (CRYPTO.com) became one of the most highly anticipated cryptocurrency projects after achieving a license with VISA for pre-paid debit cards that users could load with cryptocurrency by exchanging to their native coin MCO, which is currently at #73 in total market cap value. This was associated with a well designed, but basic mobile app to track MCO and value left on the cards.
However, today the company has announced a total rebrand to CRYPTO.com, that also includes a wide range of new financial services, and overall vision for the company reflecting its mission to accelerate the global development, adoption, and transition to cryptocurrency.
“CRYPTO.com gives us a powerful new identity in line with our original vision to put cryptocurrency in every wallet. As the name we are taking on is also representative of the entire space, it comes with a huge responsibility to carry the torch. We will strive to deliver impact worthy of the name and build infrastructure that enables growth of the ecosystem, delivering on the promise of a decentralized future.” – Co-Founder and CEO Kris Marszalek
New Products and Services
The MCO Visa Card allows users to spend cryptocurrency anywhere Visa is accepted. The MCO Wallet App now lets users to buy, exchange, and send four cryptocurrencies and seven fiat currencies, with an additional portfolio tracker for over 200 coins as well. The launch came with an entirely new whitepaper:
“…which unveils a comprehensive and integrated suite of consumer financial services built on and enabled by blockchain. Collectively, these products will change how customers spend, move, and invest money. We are very fortunate to have built a world-class team over the last year and I couldn’t be more proud of what the team has delivered.”
As CRYPTO.com, the MCO product brand has established a unified identity for its new consumer product and service offerings:
- MCO Crypto Invest: a robo-advisory cryptocurrency investment tool
- MCO Crypto Credit: a crypto credit service that allows customers to deposit their cryptocurrency and receive credit to spend with their MCO Visa Card
- MCO Private: a bespoke concierge for high-net-worth cryptocurrency investors;
- Platinum Referral Reward Program, a unique peer referral program, offering up to a never-before-seen US$10,000 sign-on bonus per cardholder
- Crypto Wallet Cashback: program offering up to 1% cashback rewards for all purchases and exchanges of cryptocurrency in the MCO Wallet
- Crypto Airdrops: ad-hoc token airdrops to users for selected tokens listed in the MCO Wallet App
New Card designs and minimum MCO quantities are also available:
- Icy White (5,000 MCO)
- Jade Green (500 MCO)
- Royal Indigo (500 MCO)
Monaco has historically been in direct competition with TenX, however with their new line of products and services, this business model is competitive with that of Circle Pay and Square. The universal mobile wallet of Ethos, which brought the coin into headlines reaching as high as +400% could also bring competition if company made partnerships for debit cards.