Swiss Company Pits Cryptocurrency Debit Card against Costly Exchange Services, Raises $10.2m ahead of ICO Closure

A company hailing from the hearts of Zug, Switzerland’s very own crypto-valley, claims that it can save users EUR30-40 on every EUR500 equivalent they spent on global transactions. The proposal has been so well received that this company has successfully raised a whopping $10.2m ahead of closing its ongoing ICO.

Monaco Technology, as the company is titled, is launched with an aim to protect customers from all bank charges and hefty currency exchange rates. The firm has reportedly spent 12 months in developing its proprietary VISA® card and mobile application of the same name.

“Monaco VISA® Cards,” reads the whitepaper of Monaco, “are going to be issued by one of the leading issuers and processing platforms globally, listed on Frankfurt Stock Exchange, with one of it’s subsidiaries holding a full banking license in Germany.”

Monaco ensures liquidity and access to the cheapest exchange rates through its association with 8 out of the top 10 banks by foreign exchange volume. The company’s developers have created proprietary algorithmic currency hedging strategies that keep a tab on both crypto and fiat market trends.

The whitepaper further details about Monaco’s association with a payment processing company based in UAE. They are MasterCard and Visa accredited processing company, and offer program management tools, bespoke software development, financial control and reconciliation, technical support and card-holder customer services.

“[Our] team worked incredibly hard over the last year to bring the Monaco VISA® Card & App to the market,” Kris Marszalek, the founder of Monaco, commented. “It’s a beautifully simple product that allows users to avoid all the bank charges and currency exchanges impose on them. We believe that every single person who holds Ether or Bitcoin needs one. It brings amazing value, transparency and peace of mind. You’ll never have to worry about exchange rates again, always getting the best deal physically possible.”

In addition to the cheapest exchange rates, Monaco also harnesses the power of P2P banking, and enables users to send and receive funds (both crypto and fiat) almost instantly across anywhere in the world.

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Source: Newsbtc