HongKong based Monaco has rebranded to Crypto.com since it purchased the domain name for several million dollars and has announced its new cryptocurrency enabled MCO Visa card at TechCrunch.
MCO Visa Enables Purchases with Crypto
Kris Marszalek, CEO, and co-founder of blockchain-based startup Crypto.com is at the TechCrunch conference in Zug, Switzerland discussed his company’s new MCO Visa card that allows users to spend their cryptocurrency at over 40 million locations while offering the user benefits that he says reviles the world’s best credit cards.
Marszaleck was interviewed by CNN money about the new card which he said he had just used to buy two coffees while holding up the signature obsidian black elite card. He explained that by downloading their app which contains a wallet for both crypto and fiat currency users will be able to use the cards anywhere Visa is accepted.
The CEO spoke of Crypto.com’s mission “to accelerate the global development, adoption, and transition to cryptocurrency,” and added that with the MCO Visa card they are not only bringing utility to holders of cryptocurrency but also providing a gateway for those interested in but as yet hesitant to get into the space because of its technical aspects or volatile nature.
In addition to the standard MCO Visa card, Crypto.com is also introducing an exclusive cryptocurrency concierge service, MCO Private. This will be offered to high-net-worth clients in the crypto space, offering both specialized services and access. A few of these perks include dedicated customer service over the phone, exclusive access to crypto related events and advice and guidance through the platform.
CEO says New Visa Card Accelerates the Adoption of Crypto
The cards come in ice white available to those who purchase 5,000 MCO tokens or the elite, obsidian black for 50,000 MCO. The standard cards will provide benefits as well, such as; cash back rewards, referral bonuses, and airport lounge privileges.
The Crypto.com domain was first registered by University of Pennsylvania professor of computer and information science Matt Blaze in 1993 who held onto the name until he sold out to Monaco recently. Though the purchase amount has been kept confidential experts have estimated it may be worth as much as $10 million.
Speaking about the purchase of the name and the rebranding of the company Masrszeleck said:
“We will strive to deliver impact worthy of the name and build infrastructure that enables growth of the ecosystem, delivering on the promise of a decentralised future.”
For now, the MCO Visa card is finishing testing prior to availability in Asia, Europe, and the US. Its official launch is planned for later this summer.