Published On: Fri, May 26th, 2017

Monaco Visa Card ICO Brings Crypto Token Spending To The Masses

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The cryptocurrency debit card market is gaining a new heavyweight as Monaco continues its 150,000 ETH ICO.
Debit Cards Take Advantage Of ICO Craze
Monaco, which is raising funds to launch its prepaid Visa card for spending Bitcoin and ERC20 tokens with fiat currency, has accrued around 26,000 ETH since the token sale began May 18.
The event marks the fully-fledged entry of crypto debit cards into the ICO realm, which has already seen startups with all manner of USPs benefit from millions of dollars in funding.
“Given the interest in the product over the past six months, it is likely demand will exceed supply,” bullish co-founder and CFO Rafael Melo said in an introductory video.
Speculation-Proofing ERC20 Tokens
Despite the mixed reactions to Ethereum startups’ ICOs in recent months, Monaco is hoping its multifaceted token plans will allay any fears among investors.

Sales of its MCO token are being performed on a sliding exchange rate to ETH, giving early investors an effective discount. Once the product is launched, a 1% so-called “software license fee” will send a portion of card transactions to a smart contract, generating value over time for MCO.
Incentive schemes such as lack of presale …

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