MCO, formerly Monaco, have recently began testing their VISA payment cards. The solution will allow users to spend a variety of cryptocurrencies anywhere in the world providing the merchant accepts VISA payments.
This article will cover the following points
- What is the MCO Card and project?
- How to reserve your MCO card
- The various card options available
- Recent MCO updates and announcements
- When will the MCO cards be distributed? Distribution date?
So what is MCO?
The project has come a long way from the ICO back in early 2017. There were many rumours online about the project potentially being a scam, both during the ICO phase, and at the end of 2017 when the team were unusually quiet about any further developments. There was also concern over the possibility of them being rejected by VISA, however it now seems the project is in full swing, with live testing happening as we speak.
The MCO project aims to house everything under one roof. The App acts as a wallet for your cryptocurrency, as well as an exchange platform enabling trading between the various cryptocurrencies. You will be able to send and receive funds, as well as buy and sell direct to your bank account should you choose to do so.
The various MCO Card options available.
There are a variety of different cards available, some free, some require users to lock up a set amount of MCO tokens in the app to reserve the card, and all have different benefits for using the card.
Below is a list of the various MCO cards available!
MCO coin has bee tradeable on most major cryptocurrency exchanges now since the end of their ICO. It initially began trading at $2.25, and within 5 weeks had increased by 976% to its current all time high price of $24.22.
We’re now in July 2018, 12 months after it landed on exchanges, and the price is currently sitting around the $7.5 mark, still 233% higher than the original price.
Below is a chart from coinmarketcap.com showing the past 12 months of trading history since the beginning of trading.
When will the MCO cards be distributed? – MCO Card distribution date?
Although there is no official launch date for the MCO cards to be distributed, we do know that the team plan on launching them in stages based upon the demand from each Continent.
The first MCO cards will be distributed across Asia, with no MCO card distribution date set in stone at the moment, we’re expecting this to happen by late 2018. The next rollout will be across Europe, followed by the United States. More information regarding when the MCO cards will be distributed will be released via notifications through the MCO app so be sure to download it and select your card to be notified further. Download MCO app.
Why is MCO so exciting?
MCO is a very exciting project in the cryptocurrency world because it enables crypto to be used anywhere in the world by anyone. It will work just like a traditional debit card from your bank, they even have the contactless payment feature!
MCO updates so far
Back in September MCO announced they are an approved Visa program manager
Being a Program Manager makes us the owner of the card program which enables us to manage the marketing, distribution, KYC/AML, customer support and all other operational aspects of the card program, including working with a processor on transaction authorisation and processing. Being a Program Manager is different from being a Card Issuer as the latter is responsible for meeting local regulatory requirements and settlements to VISA. – Yvonne Kua
MCO buy the domain Crypto.com
MCO recently bought the domain crypto.com during their successful rebrand from Monaco. Despite the owner of crypto.com Matt Blaze turning down offers in excess of $10 Million USD earlier in the year, the deal with MCO is now official, and although no amount has been released yet, MCO CEO Marszaled made the following announcement.
This is a very powerful identity that we are taking on. It’s representative of the entire category so it comes with a huge responsibility on us to carry the torch. We don’t take it lightly and this is one of the things that I think we conveyed successfully, that, as a company, we do have a higher purpose.”
Partnership with Gemalto
It is common knowledge that MCO will be releasing Visa debit cards at some point in the future… But MCO have already secured a partnership with Gemalto to produce metal cards. Gemalto are one of the the largest producers of debit cards and SIM cards worldwide. The card will offer high security features as well as being available in a range of different styles and colours.
“By partnering with Gemalto, we are able to produce a highly functional yet beautiful product that users can be proud to use and display at the top of their wallets as their go-to cards.” – Kris Marszalek, Co-Founder and CEO of MCO
Bringing on board a highly successful team
Back in December MCO announced they had hired for four key positions within the company; COO, CCSO, CMO and a Platform Architect. However they are also advertising a range of other jobs currently on LinkedIn, so if you are interested in applying it may be worth checking out. This is another positive for investors as it demonstrates they are looking to expand their operations and would be harder bringing new members on board if they were not intending to follow through with the project.