In just a few months, you will be able to spend your digital currency anywhere Visa is accepted and get 10% cashback on all purchases. This will soon be a reality with the Monaco Visa card and App.
Switzerland-based Monaco Visa announced this week the cards will be available on August 31, 2017. The new Visa card can be funded with Ether or Bitcoin but other supported cryptocurrencies will be announced in June.
Being able to make everyday purchases with digital currency is not the only selling point. For the first time ever, users can put 10 percent back into their pockets from Monaco Visa’s Cryptocurrency Cashback Rewards Program. Imagine, getting a 10 percent off discount on your movie tickets, dinner out, a new pair of jeans… every single purchase you make – that is the value proposition being offered to consumers.
Currently, the company is accepting 999 “Founding members” who each will receive a Limited Edition Monaco Visa Black card. These founding memberships are being divvied up between two rounds of Ether contributions. The first 499 cards are being issued to the highest bidder, while the remaining cards will be issued to those who make the first Ether contribution.
But the company is not only trying to reach cryptocurrency users, it is also targeting the fiat-only consumer base. For instance, people who travel frequently can benefit by not having to exchange their money to foreign currencies.
Using the card will also help travelers save on bank fees. For every EUR500 you spend or send globally, the Monaco Visa card will save you EUR30-40. These perfect interbank exchange rates means it is the perfect solution for inbound remittance payments as well.
Monaco Visa is particularly eager to reach Chinese digital currency users. In 2016, China’s mainland had over 100 million outbound travelers. Since Asian countries like China are quickly adopting digital currencies, the Monaco Visa card could be a big hit with people who want to fund their travel with digital currency.
Monaco Visa also announced earlier this month its MCO token sale. Early buyers can purchase MCO at a discount until June 18th.
Images: Monaco Visa