Crypto.com (formerly Monaco): Payment Solutions and MCO Token

Crypto.com, previously known as Monaco, offers an array of payment solutions including the MCO Visa card, MCO wallet, and MCO token embrace. The MCO Visa card allows users to fund it with cryptocurrency, enabling everyday purchases similar to a regular Visa card. Transactions involve manual conversion of cryptocurrency to fiat currency. The card is currently in a pre-launch phase, with waitlists in Europe and Asia.

Card Drawbacks: One notable drawback is that users need to first purchase MCO tokens to have the card delivered, introducing an additional layer of complexity. This contrasts with the typical aim of prepaid card industry, which seeks to provide user convenience in exchange for a fee. Additionally, MCO tokens are not listed on major fiat-to-crypto exchanges, necessitating acquisition through crypto-to-crypto exchanges like trading Bitcoin for MCO.

Fee Advantage and Partnerships: The card boasts lower fees compared to competitors, a significant selling point. The company has a notable team and partnerships, including Thomson Reuters assisting with KYC/AML compliance. Furthermore, Crypto.com aims to extend credit to users with at least $10,000 in MCO coins on the exchange.