SACRAMENTO, Calif. – Continued upswing is reflected by the Monaco (MCO) price this week. Trading at $13.44 at the time of writing, the latest upbeat developments for the 2-year-old, Switzerland-based coin are giving it a promising streak.
April 19 marked the commencement of the MCO coin’s availability for trading at Bithumb. This resulted in an astronomical gain of 101% in the cyber-currency’s value in just a short period. One of the massive virtual currency exchanges in South Korea, Bithumb boosts the fledgling MCO with its stature in the cryptocurrency industry. MCO will, hence, earn more visibility to investors as it is now procurable through sending, receiving, purchasing, as well as live trading.
According to its official website, the Monaco platform and the MCO token developers target the promotion of cryptocurrency debit cards. In addition, they also intend to contribute to the large-scale adoption of these digital assets.
MCO creators are quite zealous in the widespread adoption as well as heightened scalability and convenience of the special debit cards. Hence, Singapore, one of their locales of operation, is considered as the starting place to realize their initiative.
After getting the official authorization from the American multinational financial services corporation, Visa, the Monaco development group collaborated with their Singaporean counterparts in creating Visa debit cards. These plastic payment cards would initially be available for use in the Asian country. However, the group understands that more work is expected to be done as setbacks are inevitable in the integration of cryptocurrencies with the debit cards.
According to its official website, the MCO coin was developed by Monaco Technology GmbH, a Swiss company, and claims that it is not affiliated with the Principality of Monaco. Founded in June 2016 by Kris Marszalek, it is headquartered in Switzerland and operates in Singapore and Hong Kong.
Tailwinds have certainly been unprecedented for the MCO coin since its September 2017 breakout trading at a flattering $24. MCO’s position as the 78th digital currency at the time of writing in Coinmarketcap.com is still anticipated to improve. The Monaco (MCO) price is expected to surge further north as well, making it competitive with popular cryptocurrencies like Ethereum and Bitcoin.