Monaco, a startup cryptocurrency payments platform announced today that its Visa prepaid card program has received the green light from the card issuer, a leading company in payment processing and issuing products in Singapore. With the Monaco app, users will be able to buy and exchange cryptocurrencies including bitcoin and ether.
The Monaco Visa prepaid cards work anywhere Visa is accepted, allowing users to spend legal tender currency converted from cryptocurrency without currency exchange fees. All cryptocurrency exchanges to legal tender currency will be managed by Monaco before users transact on the Visa network.
iOS and Android users in Singapore can download the Monaco app, select a Monaco Visa prepaid card from five available options, including the Monaco Visa Platinum prepaid cards, and complete the three-minute onboarding process to register for the waiting list.
Kris Marszalek, co-founder, and CEO of Monaco said:
“The demand for the Monaco Visa prepaid cards has exceeded our expectations with over 17,000 cards reserved, based on word of mouth alone. With perfect interbank exchange rates, and 0.75 percent cryptocurrency cashback on all transactions, the Monaco Visa prepaid card will become the card of choice for consumers. More perks will be added over time to turn the Monaco Visa prepaid card into a dominant force in payments.”