Receive all Cointelegraph news immediately in Telegram.
After 12 months in stealth development, Monaco Technology GMBH unveiled it’s revolutionary Monaco VISA Card and App today.
May 17th, 2017 Zug, Switzerland. After 12 months in stealth development, Monaco Technology GMBH unveiled it’s revolutionary Monaco VISA Card and App today. Besides traditional funding sources, Monaco can be funded with Bitcoin, Ethereum and other ERC20 tokens.
Monaco allows users to spend and send money globally at perfect interbank exchange rates, saving EUR30-40 on every EUR500 equivalent spent. Monaco Card will work on the VISA network, giving it world-wide acceptance.
Kris Marszalek, Founder of Monaco Technology, commented: “The team worked incredibly hard over the last year to bring the Monaco VISA Card & App to the market. It’s a beautifully simple product that allows users to avoid all the bank charges and currency exchanges impose on them. We believe that every single person who holds Ether or Bitcoin needs one. It brings amazing value, transparency and peace of mind. You’ll never have to worry about exchange rates again, always getting the best deal physically possible. It’s an incredible feeling!”
Other features of the Monaco App include:
Together with the product reveal, Monaco announces it’s ICO, starting on May 18th. The Company targets contributions of 150,000ETH to fund customer acquisition goals and further product development.
Commenting on the ICO, Mr. Marszalek said: “In an industry that has a reputation for being opaque, we stand out with our mission: to build simple and honest ﬁnancial products that improve lives. This starts with how we develop the products, how transparent we are about pricing and is reflected in how we structured our ICO.”
Mr. Marszalek continued: “We’re fundamentally against the current industry practice of hyping-up ICOs for weeks, only to launch them and close in 30 minutes. Pre-sale discounts are not allowed in the Monaco ICO, giving all contributors a level playing ﬁeld on May 18th. In case the demand exceeds supply, the Company will continue selling tokens for another 7 days, to ensure fair and broad distribution of tokens and to improve potential secondary market performance of the MCO Token”
Blockchain community members who participate in the Monaco ICO will receive MCO tokens in exchange for ETH contributions. As MCO token holders, they will have a stake in the MCO Asset Contract.
The MCO Asset Contract is an absolutely essential part of how value will be created for MCO token holders. Every time Monaco VISA Card users spend their BTC, ETH or other ERC20 tokens, Monaco will charge a 1% software license fee. All these fees will be automatically sent to the MCO Asset Contract. Over time, as Monaco users spend on the platform globally, the value will accrue in the MCO Asset Contract. “A small license fee seems reasonable, as users are saving 5 to 8 times more on every transaction with Monaco VISA Card.”, Mr. Marszalek explained. “Monaco forecasts that with transaction volume growth and appreciation of the ERC20 tokens over the next 5 years, the value of the MCO Asset Contract may reach US$500MM”.
Limited Edition Monaco VISA Black Cards numbered 001 to 999 will be issued to participants of the MCO Token Sale. Black Cards numbered from 001 to 499 will be assigned to Top ETH Token Contributors. Black Cards numbered from 500 to 999 will be assigned to the fastest contributors, based on the time stamp of their ETH contribution. The Black Card Leaderboard will be available at Mona.co and will update automatically in real-time during the MCO Token Sale.
Besides the exclusive design, Monaco VISA BLACK Card holders will enjoy lifetime unlimited perfect interbank exchange rates and triple free monthly ATM withdrawal limits. More beneﬁts will be rolled out over time.
The person who contributes the highest number of tokens in the ICO will be rewarded with the Monaco VISA Black Card Number 001 and will receive a bonus 188,888 MCO Tokens from the Monaco Founder's Pool. The 188,888 Bonus MCO Tokens will not be subject to a lockup period.
To find our more about Monaco please visit a website.
White paper download here.
To pre-register for the Token Sale here.
LEAD ADVISOR: TokenMarket
MEDIA CONTACT: Freya Stevens Freya@TokenMarket.net
Follow us on Facebook
This is a paid press release. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
For updates and exclusive offers, enter your e-mail below.
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact: