If you've signed up for Monaco, the payment and cryptocurrency platform, then I'm sure you got the email that announced they were rebranding to Crypto.com. The move is meant to reflect the company’s commitment to helping the world transition to cryptocurrency. The company also released a new version of their white paper that gives an updated overview of the company’s financial products and services.
Earlier this week, Monaco purchased the Crypto.com domain from Matt Blaze, University of Pennsylvania professor who purchased the domain way back in 1993, who is notorious for his disinterest in selling the sought-after domain. That he finally sold the domain is really surprising. It is thought that this domain could be worth as much as $10 million USD.
Monaco’s original mission statement was “putting cryptocurrency in every wallet”.
The rebrand will compliment the original mission, rather than replace it. Monaco has a portfolio of crypto-related products, including a wallet app and a Visa payment cards. The rebranding will not affect the rollout of these products, however, the portfolio will be rebranded to MCO to go along with the company-wide rebrand.
Meanwhile, as the rollout of the company’s highly anticipated Visa card approaches, MCO’s values rose by almost a net 50% last week, with the price of the MCO token doubled, reaching a high of $8.36 for the week. While interest in payment cards peaked last summer, the surge in MCO’s price indicates that there is still a lot of interest in crypto debit cards, and especially in the products and services that Monaco will soon be launching.
Monaco expressed a desire to “carry the torch.” More than just a name, the new name for their rebrand represents the entire cryptocurrency community. They look forward to being able to explore new ways to make an impact on the crypto community, and I am also excited to see their expansion and growth.
Monaco can be obtained and traded on Binance.