Monaco, the pioneering payments and cryptocurrency platform, today announces that its prepaid card program has received the green light from the card issuer, a FinTech leader in payment processing and issuing products in Singapore.
"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," said Kris Marszalek, co-founder and CEO of Monaco. "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. With perfect interbank exchange rates, and 0.75 percent cryptocurrency cashback on all transactions, the Monaco Visa prepaid card will become the card of choice for consumers. More perks will be added over time to turn the Monaco Visa prepaid card into a dominant force in payments."
iOS and Android users in Singapore can download the Monaco app, select a Monaco Visa prepaid 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, 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.
For more information, please visit Monaco's website at www.mona.co. The Monaco app is available for download for iOS and Android users.
Founded in June 2016, Monaco is the pioneering payments and cryptocurrency platform allowing users to buy, exchange and spend bitcoin and ethereum at perfect interbank exchange rates. Customers can use Monaco Visa prepaid cards anywhere Visa® cards are accepted. Monaco raised over US$26.7 million through one of the most successful Token Sale events to date. The company is headquartered in Switzerland with operations in Hong Kong and Singapore. For more information, please visit www.mona.co.