Monaco and Binance Enter Into Strategic Partnership

With a view to expanding in the crowded crypto market, the two firms are leveraging each other's resources to attract

Today, the cryptocurrency payment platform Monaco and the cryptocurrency exchange Binance have announced a strategic partnership. Under this partnership, Monaco will extend support of the Binance-issued token BNB to its platforms, the mobile app and VISA debit card. Binance will introduce MCO/BNB trading on its crypto exchange platform.

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The partnership comes after the MCO token was listed on Binance on the 23rd of August this year. The platform will start MCO/BNB trading on the 26th of December.

Commenting on the partnership, Kris Marszalek, co-founder and CEO of Monaco, said: “Since the successful listing of our token in August, our team has worked very closely with Binance to extend and deepen this partnership. Today’s announcement is the first step in this direction. The Binance platform has been growing by leaps and bounds and we are delighted to have their support as we continue to pursue our vision of bringing cryptocurrency to every wallet.”

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Changpeng Zhao, CEO of Binance, said: “We are supportive of Monaco’s goal to expand the ecosystem and drive cryptocurrency adoption globally. Mutual support for our tokens is an important first step as we continue to explore ways to broaden our integration.”

Monaco is pushing very hard to expand its business. Earlier this month, Monaco listed its token on three more exchanges. Aiming for global expansion, Monaco also appointed Brent Diehl as Senior VP in October.

In November, Monaco introduced the long-anticipated VISA prepaid card in Singapore. The firm had been dropping hints about this partnership since early 2017 but did not confirm anything officially. Due to the unofficial hints, the MCO token also got a boost earlier this year. This ultimately attracted a lot of critics too.

The token has seen a huge surge in value since the start of December. In this month alone, the token has gained more than 267 percent and is now trading at around $20.62, according to coinmarketcap.com.

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