Monaco, the payments and cryptocurrency platform has revealed further details about its crypto credit and investment products soon scheduled for release as part of Monaco’s 2018 roadmap – Monaco Credit and Monaco Auto Invest.
Further, the Monaco wallet app is now available to Monaco community members as a part of a closed beta, its noted that V1 of the Monaco app will hold user’s private keys. The application features both fiat and cryptocurrency wallets, ability to manage the upcoming Monaco Visa card, a live coin tracking dashboard, and Monaco University – a beginner’s guide to cryptocurrency.
The team is completing final preparations for the launch of the Monaco wallet app and Monaco Visa card that will further support everyday adoption of cryptocurrency.
Monaco Auto Invest
Auto Invest, Monaco’s new automated cryptocurrency investment feature, allows anyone to easily start their cryptocurrency portfolio with as little or as much investment as they prefer, with no setup or withdrawal fees. Ideal for beginners who don’t want to handpick from hundreds of digital assets – Monaco’s proprietary technology will build a personalized portfolio that can be managed based on users’ preferences and investment goals. Users can cash out at any time and Monaco will never take money from deposits or losses.
Seeking a modern way to allow customers to deposit their cryptocurrency and get credit to spend, Monaco Credit will offer credit lines based on the deposited collateral of either Monaco (MCO) tokens or bitcoin (BTC). Indicative levels of collateral value have been set at 60% for MCO and 40% for BTC respectively. With no monthly payment statements and a 30-day grace period unlockable with tokens, users can now enjoy the benefits of holding onto their cryptocurrencies, while having instant access to cash whenever they need it – the ultimate way to have your cake and eat it, too.
Kris Marszalek, Co-Founder, and CEO of Monaco said:
“Monaco Auto Invest and Monaco Credit are the perfect extension of the Monaco Card and Monaco Wallet app. Together, they form a complete suite of revolutionary financial products and position Monaco as the first global financial institution built on blockchain, as well as a destination platform for anyone interested in cryptocurrency.”
A new update from Monaco before CEO Kris Marszalek discussed the Monaco Visa card on the Money 20/20 panel was that it joined the Enterprise Ethereum Alliance (EEA), the world’s largest open source blockchain initiative with over 400 member companies. Monaco joined EEA to further bolster its commitment to the security and efficiency of blockchain technology and to support the adoption of the Ethereum blockchain.