Founded in 2016, Crypto.com aims to accelerate the transition to cryptocurrency payments worldwide. Its key products are the MCO Visa Card which is a metal card for storing cryptocurrencies, the Crypto.com Wallet & Card App, cryptocurrency exchange, and the Crypto.com Chain. It is powered by two different cryptocurrencies, MCO and CRO.
The project was launched by a group of Hong Kong specialists founded in Monaco and initially, it was bearing the name of Monaco Coin. Two years after the launch, a Monaco Visa Card was issued with an option for storing cryptocurrencies. MCO coin was added into the loop to pay commissions and convert cryptocurrencies. The project was rebranded in July 2018 changing its domain name to “cypto.com” and giving the same name to its native cryptocurrency. Crypto.com products The development of the Crypto.com Chain platform was announced in 2018. According to developers, the platform is quite simple to facilitate the adoption of cryptocurrencies and help companies integrate their tokens into the real economy sector.
The Crypto.com Card is also pretty simple. It supports a large selection of assets and comes with the enhanced security of clients’ funds. Also, unlike Bitcoin, it would have pretty high throughput indices and be able to process up to 50 thousand transactions per second.
The Crypto.com wallet allows its users to easily deposit, withdraw, store and send cryptocurrencies. At the time of writing, it supports 7 fiat currencies and 53 digital coins. MCO use cases MCO coins can be used in several different ways within the ecosystem:
Better conditions for cards’ usage. A better rate for the credit service when using MCO as a collateral A possibility to vote for new cryptocurrencies to be added to the wallet Participating in airdrops Cashback paid in MCO Crypto.com ICO statistics The ICO started on the 16th of May, 2017, and lasted for a month. The project has managed to raise 26.7 million USD having distributed 30% (~16.7 million) of all tokens among investors.
Since the project runs on the Ethereum platform, its tokens have the ERC-20 standard. Crypto.com team Kris Marszalek has been the CEO of the project ever since its launch in 2016. Prior to Crypto.com, he has founded a few other successful projects, such as a Hong Kong-based mobile application Yiyi, an e-commerce platform Beecrazy and an online discount retailer Ensogo.
His colleague and co-founder of the project Rafael Melo has worked together with him on Ensogo. Before that, he had been working at the top management positions in a few financial companies such as Embraer and Mobile Payment Solutions incubated by MasterCard.