Monaco, the pioneering payments and cryptocurrency platform, this evening kicks off its 5-star sponsorship at Money20/20 Asia by revealing further details about its credit and investment products – Monaco Credit and Monaco Auto Invest – as it completes final preparations for the launch of Monaco’s Wallet App and Monaco VISA card that will further promote everyday adoption of cryptocurrency.
These products, part of Monaco’s 2018 roadmap, add another facet to Monaco’s vision of Cryptocurrency in Every WalletTM.
Monaco Wallet App Now Available in Closed Beta
The Monaco App is now available to Monaco community members today as a part of a closed Beta. The app features both fiat and cryptocurrency wallets, ability to manage the upcoming Monaco Visa card, a live coin tracking dashboard, and Monaco University - a beginner’s guide to cryptocurrency.
Monaco Auto Invest
Auto Invest, Monaco’s new automated cryptocurrency investment feature, allows anyone to easily start their cryptocurrency portfolio with as little or as much investment as they prefer, with no setup or withdrawal fees. Ideal for beginners who don’t want to handpick from hundreds of digital assets - Monaco’s proprietary technology will build a personalized portfolio that can be managed based on users’ preferences and investment goals. Users can cash out at any time and Monaco will never take money from deposits or losses.
Seeking a modern way to allow customers to deposit their cryptocurrency and get credit to spend, Monaco Credit will offer credit lines based on the deposited collateral of either Monaco (MCO) tokens or bitcoin (BTC). Indicative levels of collateral value have been set at 60% for MCO and 40% for BTC respectively. With no monthly payment statements and a 30-day grace period unlockable with tokens, users can now enjoy the benefits of holding onto their cryptocurrencies, while having instant access to cash whenever they need it - the ultimate way to have your cake and eat it, too.
Kris Marszalek, Co-Founder and CEO of Monaco said, “Monaco is proud to anchor our presence at Money20/20 Asia, an important financial industry event, by beginning our closed Beta program and officially introducing two more products in our pipeline that will change the way everyday consumers view the future of money. Monaco Auto Invest and Monaco Credit are the perfect extension of the Monaco Card and Monaco Wallet app. Together, they form a complete suite of revolutionary financial products and position Monaco as the first global financial institution built on blockchain, as well as, a destination platform for anyone interested in cryptocurrency.”