Monaco which is a cryptocurrency payment platform has rebranded itself to CRYPTO.com. They bought this domain at an undisclosed amount. The domain was in demand since a long time but now it has come into the power of Monaco.
Monaco was founded in 2016 and it allows the traders to buy, exchange, and spend fiat and cryptocurrencies including Bitcoins and Ethereum which is common and the most famous cryptos. Monaco has its headquarters in Switzerland and has their offices in Hong Kong and Singapore. They raised $26.7 million in the last year that too in its initial coin offering(ICO).
The founder of CRYPTO.com, Matt Blaze registered the domain in 1993 and it has drawn a lot of attention from the cryptocurrencies worldwide but no business was done. In 2018, Blaze cleared that the domain is related to cryptography, network security, and computers and is not at all related to cryptocurrencies. But, on Friday, Monaco suddenly announced the acquirement of this domain. The details of the deal is closed though but ye the deal has been done. The estimated value of the domain range from $5 million to $10 million.
The co-founder and CEO of CRYPTO.com, Kris Marszalek believes that this domain will make their identity powerful and will help them achieve their goal.
Monaco has a new vision of including the wallet app and Visa payment cards, that will be branded as “MCO” to align with the company’s token as its name. The CEO also claimed that the rebranding will not affect their token, MCO.
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