Monaco is a payment and cryptocurrency platform that rebranded itself in 2018 as Crypto.com, traded on cryptocurrency markets under the symbol MCO. Blockchain-backed debit cards and a mobile wallet app are supported by Crypto.com. In late 2019, Crypto.com has already revealed a proposal to launch its own crypto exchange that it plans to be online by the end of 2020. Crypto.com is contentious. At its founding, it promised to merge the blockchain and fiat economy, but it was granted a checkered image by the company’s lack of accountability and its underperformance on promised initiatives.
1. Understanding Monaco
Crypto.com originally launched as Monaco in 2017 with its own cryptocurrency trading under the symbol MCO. As of September 2020, MCO is the 125th largest cryptocurrency by market cap, according to CoinMarketCap. Its price has fluctuated between an all-time high of $27.10 and an all-time low of $0.64. Crypto.com has also issued a second token, Crypto.com Coin (CRO) that is the 9th largest cryptocurrency by market cap and has traded between $0.011 and $0.18 as of September 2020. Monaco’s ICO of the Monaco token was conducted in mid-2017. The sale raised $26.7 million worth of Ether (ETH) at the time.