Monaco: Initial Coin Offering (ICO) - Most important facts summarized

4.5/5 - (4 votes)

Review: ICO – World’s best cryptocurrency card – Monaco VISA® Card

The Monaco Card is a must-have item not only for every Ether and Bitcoin holder but essentially for everyone who spends and sends money in foreign currency. Here is the most important information about the Monaco Initial Coin Offering:

Monaco (MCO)	ICO Status: Finished	18.06.2017
https://www.mona.co/ 4.5/5 - (4 votes)	Concept: The Monaco VISA® Card is more than your standard credit card. Applications/Features are multiple starting by the ability to fund/spend your Bitcoins or Ether on a physical card accepted by 30m merchants worldwide, wherever VISA® cards are accepted, both online & offline. The account can be topped up with Bitcoin or Ether as well as with fiat currencies through Bank transfer or with a debit/credit card. One of the many features of the App/Card is the Exchange money at a perfect Interbank exchange, meaning no fees or mark-ups and this as well while spending with your card. It means concretely an average on EUR 30- 40 on every EUR 500 spent, in comparison to high street banks. Another outstanding fact is that are no monthly or annual fees for the usage of the Monaco Card and no fees will be charged for global ATM withdrawals. There is a 1% fee for all transactions (Swipe and exchange) for ETH/BTC. These earnings will accrue in the MCO Smart Contract, and Token holders will have the right on it. In order to receive the Monaco VISA® Card, it’s a simple 3 min onboarding process including remote KYC, after downloading the Monaco App on Android/iOS. This is the first and only universal Money App- bridging the gap between the world of crypto and fiat currencies. Core features: • Spend your Ether or Bitcoin with a physical Monaco VISA® Card, wherever VISA® cards are accepted, both online & offline • Only the exact amount that you spend with your Monaco Card will be incrementally exchanged from ETH/BTC in real-time when you swipe your card, with rest being securely stored in your wallet to which only you have access • Exchange money at perfect interbank exchange rates using Monaco App Within Fair Usage Limits • Enjoy the same perfect interbank rates whenever you spend on Monaco Card • Send money from Monaco App in 23 currencies to 120 countries worldwide for free • Sending money between Monaco App users is free & real-time, with the money being instantly available for the recipient on their Monaco Card • Customer onboarding can be done entirely via the mobile App – a process taking less than 3 minutes Whitepaper: Get more information
Venture	Raised Capital: 71.392 ETH Venture Round: Round 1 Price 150-100 MCO = 1 ETH	ICO Token Distribution: • 30% Crowdfunding • 25% Monaco Card founders (Biggest & early contributers) • 10% Company • 5% Advisors • 30% Reserve Tokens
Mining	Supply: MCO token creation event • Only Ether can be contributed and turned into MCO • The Token Sale will continue 30 days • The creation will be soft-capped upon receipt of 150,000 ETH • The MCO tokens will be created in real time, in response to incoming ETH contributions • If the soft-cap is reached before the end of the 30 days, additional contributions will be accepted for 7 days • No more MCO will be created after this period	Usage: • 35% - R&D and Product Development Includes opening of an R&D center in Shenzhen with approximately 20-30 engineers. • 20% -Marketing and Customer Acquisition • 15% - Initial Capex, including cost of e-Money licenses, compliance and architecture setup • 30% - Working Capital
Initial Coin Offering	ICO Launch: 18. May 2017 at 09:30 UTC ICO Finish: 18. June 2017 at 09:00 GMT ICO Tradable on Exchanges since: still not tradable	Platform: TokenMarket
Offices/Locations	Unknown

Team behind Monaco

Kris Marszalek

Co-founder & CEO

Serial Entrepreneur in Southeast Asia Internet industry, 2x from $0 to
$100m in revenue and 2 exits CEO at Ensogo, Founder at BEECRAZY (sold
for US$21mm to iBuy Group in 2013)

Rafael Melo

Co-founder & CFO

15 years’ experience in finance, deep understanding of risk, compliance and Mobile Payments ecosystem in Asia. Led fundraising efforts as CFO at ASX-listed Ensogo, securing strate- gic investment from VIPSHOP (NYSE:VIPS) and raising over A$50m from blue chip institutions like Fidelity, Goldman Sachs and BlackRock. Prior to Ensogo, served as CFO at Mobile Payment MasterCard in Singapore and Finance Director at Embraer.

Gary Or

Co-founder & CTO

Hacker, Product Designer, Entrepreneur, 9 years of full stack engineering experience (RoR, Elixir, Golang), Keen interest in Machine Learning and AI Platform Architect and Ruby Lead at Ensogo, Engineer at BEECRAZY, Cofounder and CTO at EventXTRA

Bobby Bao

Co-founder & Managing Director

Extensive experience in investment banking, corporate development, investor relations. Head of Corp. Development at Ensogo, investment banker at China Renaissance, Deloitte, Merill Lynch. While at China Renaissance he worked on landmark deals, including merger of Didi and Kuaidi (now Didi Chuxing) as well as Special Corporate Development Projects for Richard Liu , Founder & CEO of JD.com (Nasdaq: JD)