The growing advancement of digital technologies including the cryptocurrencies world, in its present expansion of cryptocurrencies has become a very high requirement one of which as an official payment includes the use of debitcard with cryptocurrencies & fiat like Monaco Card.
What is Monaco VISA® Card and difference with other debitcards ? Monaco card is simple currency exchange, you can used physical card for online and offline purchases at more than 30m merchants who accept VISA® globally. Every time you spend with the Monaco VISA® Card, you will be given perfect interbank exchange rates without markups or fees.
This is some feature from Monaco VISA® Card
- Spend your Ether or Bitcoin with a physical Monaco VISA® Card, wherever VISA® cards are accepted, both online & offline
- Only the exact amount that you spend with your Monaco VISA® Card will be incrementally exchanged from ETH/BTC in real-time when you swipe your card, with rest being securely stored in your wallet to which only you have access
- Exchange money at perfect interbank exchange rates using Monaco App
- Enjoy the same perfect interbank rates whenever you spend on Monaco VISA® Card
- Send money from Monaco App in 23 currencies to 120 countries worldwide for free
- Sending money between Monaco App users is free & real-time, with the money being instantly available for the recipient on their Monaco VISA® Card
- Customer onboarding can be done entirely via the mobile App – a process taking less than 3 minutes
Monaco Card designed with multi function for used Ether or Bitcoin with a physical Monaco VISA® Card and send in 23 currencies to 120 countries in the world. Monaco will cover the cost of BTC & ETH exchange (the maker/taker fees traditionally charged by cryptocurrency exchanges).BTC equivalent will be converted to ETH at prevailing rates without any exchange fees and credited to the MCO Asset Contract.
For support Monaco VISA® Card project, monaco team will sale MCO tokens as an asset, MCO tokenss will create use Ethereum smartcontract base ERC20. At any time, a holder of MCO can “Redeem and Burn” the MCO for their pro-rata share of each token held by the MCO Asset Contract. The holder will irrevocably destroy the MCO, and in exchange, the MCO Asset Contract will transfer the underlying tokens to the holder. MCO token will have a market value at or above the assets contained in the MCO Asset Contract. If the value goes below, market participants will be incentivized to purchase MCO and burn it; this will then push the value of MCO back up.
Roadmap use of fund from crowdsale
- 35% – R&D and Product Development Includes opening of an R&D center in Shenzhen with approximately 20-30 engineers.
- 20% – Marketing and Customer Acquisition The marketing budget is not significant compared to the target number of customers we intend to acquire. The key source of new customers is going to be word-of-mouth, as the product gives users a very strong commercial incentive to download the App and get the Monaco VISA® Card. There are natural network effects built into the product around the P2P money sending function, which will lower the average customer acquisition cost (CAC) substantially.
- 15% – Initial Capex, including costs of e-Money licenses, compliance and architecture setup Some of our key partners are listed in section 4 of the document. There is a substantial cost associated with integrating all those partners, acquiring all the necessary licenses across multiple jurisdictions, building out compliance teams, legal fees and general technical architecture setup.
- 30% – Working Capital Our product – the first and only Universal Money App – is bridging the gap between the worlds of crypto and fiat currencies. In order to offer our users real-time access to funds and perfect exchange rates without mark-up, we will have to bridge funding gaps between multiple parties using our own balance sheet
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