During the Money20/20 Asia conference, on Monday, Swiss cryptocurrency startup Monaco Technology revealed details of two new products it is working on, Monaco Credit and Monaco Auto Invest, as the company completes final preparations for the launch of the Monaco Visa Card and the Monaco Wallet App.
Monaco Begins Closed Beta Testing for Wallet App, Reveals Details of Investment and Credit Products
The mobile wallet is already available in closed beta and features both fiat and cryptocurrency wallets, a live cryptocurrency tracking dashboard, and Monaco University, a beginner’s guide to cryptocurrencies. When the app will be fully operational, it will allow customers to manage their Monaco Visa cards as well as buy and exchange cryptocurrencies such as bitcoin and ether at “perfect interbank exchange rates.”
Monaco Auto Invest, an automated cryptocurrency investment feature, will enable users to easily start a cryptocurrency portfolio with no minimum investment required, and no setup or withdrawal fees. Similarly to a robo-advisor, Monaco Auto Invest will use proprietary technology to provide customers with personalized portfolios based on their investment goals and risk profile. Users will be able to cash out and withdraw their investments any time, and “Monaco will never take money from deposits or losses,” the startup said.
Robo-advisors are digital platforms that offer automated, algorithm-driven financial advice or investment management online with little to no human supervision. A typical robo-advisor collects information from clients about their financial situation and future goals through an online questionnaire, and then uses the data to offer