Monaco: Introducing Cryptocurrency to The Mass Market

The cryptocurrency industry is in its nascent stages with up to 6 million unique active users of cryptocurrency wallets, according to a report conducted by Cambridge University.

In such a context, companies like Monaco, a pioneering payments and cryptocurrency platform founded in June 2016 raising over US$26.7 million through one of the most successful Token Sale events to date, announced that its prepaid card program has received the green light from the card issuer, Visa.

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Kris Marszalek, co-founder and CEO of Monaco said:

Our team has worked incredibly hard over the past year to achieve this milestone. This is an important step towards Monaco’s vision to introduce cryptocurrency to the mass market.

He added:

We believe that the Monaco card program lays solid foundation for Monaco’s growth, and we’re grateful to all partners for their support. The demand for the Monaco Visa prepaid cards has exceeded our expectations with over 17,000 cards reserved, based on word of mouth alone.

iOS and Android users in Singapore can download the Monaco app, select a Monaco Visaprepaid card from five available options, including the Monaco Visa Platinum prepaid cards, and complete the three-minute onboarding process to register for the waiting list.

With the Monaco app, a press release states, users will be able to buy and exchange cryptocurrencies including bitcoin and ethereum. Monaco Visa prepaid cards work anywhere Visa is accepted, allowing users to spend legal tender currency converted from cryptocurrency without currency exchange fees. All cryptocurrency exchanges to legal tender currency will be managed by Monaco before users transact on the Visa network.