MCO

What is MCO

The functionality of Monaco Card makes it a must-have item not only for every Ether or Bitcoin holder, but also for everyone who spends money in foreign currency. Core features:

In order to receive the Monaco Card, our customers need to download Monaco Android / iOS App and go through a simple 3 min onboarding process, including remote KYC. We will issue and send the Monaco Cards to customers free of charge. The physical card can be used both for online and offline purchases at more than 30m merchant locations globally. Every time you spend with the Monaco Card, you will be given perfect interbank exchange rates without markups or fees. In practice that means savings of EUR30-40 on every EUR500 spent, compared to high street banks.

You can fund your account with Ether and Bitcoin, instantly and for free. You can also use fiat currencies, topping up your account by bank transfer or with a debit/credit card. Finally, you can also apply for a credit limit from our App and receive a decision within 48 hours. A top-up credit limit effectively turns the Monaco Debit Card into a credit card, as you will only pay interest on amounts of credit that you use, but don’t repay in a timely fashion.

Spending your ETH/BTC with Monaco Card is seamless. You keep ETH/BTC balances in your wallet, which you can view at any time in the Monaco App. Every time you swipe your Monaco Card, we will only exchange the incremental amount of ETH/BTC that is required to settle the fiat currency transaction. The rest of your ETH/BTC balances remain in your wallet. There are no monthly or annual fees for usage of the Monaco Card. Access to perfect inter-bank exchange is free. Monaco will not charge fees for global ATM withdrawals within Fair Usage Limits. There is a 1% fee for all transactions (swipe and exchange) of ETH/BTC. These earnings will accrue in the MCO Smart Contract, the rights to which will be held by community members who hold MCO tokens.