Monaco Card Showcase At Money2020 Asia: No Card.
We’ve been closely watching the situation with Bitcoin debit cards. As we’ve been building the Bitcoin debit card list, we’d be getting comments about add Monaco card from time to time. Each time the commenter was talking about their “plans” and never about a working card.
As some point, a Reddit user promised that Monaco would be presenting their new prepaid card at Money2020 Asia fintech conference:
Well, 2 days of Money2020 Asia flew by, Monaco ran their presentation, and no they did not showcase any cards. That’s a bit ironic, considering all their social media accounts are called “Monaco Card”.
Instead, Monaco has announced an investment program. Which is extremely weird, because this is what ponzi schemes in crypto call themselves: “investment programs” where some mysterious bot is making money for everyone giving it some coin.
This has already caused some alarmist sentiments on Twitter:
You’re a card company (check your Twitter alias)!!! You have a Visa-partnership and now you’re gonna throw it all (by all I mean nothing real yet) away by becoming a credit/investment-app? Go ahead and paint a big SEC bullseye on your logo! Just another rabbit hole #fud#scamcoin
— Fud&Fomo (@FudFomo) March 12, 2018
Investment, like Bitconnect?
— D Pike (@coinvigilance) March 12, 2018
Monaco has uploaded the presentation of their app they showcased @ #M2020Asia – here it is:
The video goes on about buying Bitcoin within the app and exchanging it for other cryptocurrencies.
Suddenly, in the end there’s a reference to the Monaco debit card (or a virtual card? no one knows):
turns out the demo account’s card is looking great:
Well, it’s looking great on the phone screen, but this is not a “presentation of the card”. No one showed a single physical card, there was no info on the issuer, or the roadmap, like Wirex did, – nothing.
Until there are actual cards that arrive to people who order them, Monaco is not really a crypto debit card provider. It’s just an app to buy Bitcoin and a wallet to store it (and a good one as it seems!), – plus the dubious investment program that has to be explained by Kris. We’re all ears man!
UPDATE: The panel “Credit & Debit cards: maintaining growth and creating customer intimacy” will be held on March 14th – and Monaco’s CEO is scheduled to speak on something related to debit cards. Hopefully he’ll announce the debit cards, we’ll stay tuned – follow us on Twitter.