LTC will be the first coin introduced since the platform underwent its rebranding from Monaco (MCO), as well as the first one to be added after MCO launched its mobile application last month.
Prior to its rebranding, MCO offered support for the following coins: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and the platform’s proprietary token MCO (MCO).
“By adding Litecoin to the MCO platform, CRYPTO.com is enabling MCO users to spend LTC, among other cryptocurrencies, with the MCO Visa Card once it becomes available in their market. Using the MCO Wallet App, users can buy, exchange, sell, and track their cryptocurrencies,” Crypto.com posted on its blog.
The MCO Visa Card and Wallet App was downloaded more than 100,000 times on Google Play Store for devices that function on the Android operating system. Crypto.com is one of the rare examples of crypto spending card projects that did not encounter any glitches during the launch of its VISA cards. MCO wallet lets its users track more than 200 digital currencies by offering data regarding their price, volume, market capitalization, charts, exchanges, and rates.
“Litecoin Foundation and CRYPTO.com share a common vision of accelerating the development and adoption of cryptocurrency. As Litecoin moves towards widespread acceptance as currency for a growing number of merchants, I’m excited to see Litecoin support added to the MCO Wallet App and the MCO Visa Card. We look forward to advancing the mission to expand cryptocurrency use together with CRYPTO.com by helping more users buy and spend Litecoins in their day-to-day lives,” said Charlie Lee, the founder and managing director of Litecoin Foundation.
According to earlier reports, crypto Visa card company Monaco the new domain that it purchased, crypto.com, was first registered in 1993 by Matt Blaze. The domain was bought for a sum of approximately $10 million. Monaco decided to use this web address because it attracted a large number of page visits, had a good image and promoted a concept they were interested in.
Kris Marszalek, the CEO of former Monaco said the following statement:
“This is a very powerful identity that we are taking on. It’s representative of the entire category so it comes with a huge responsibility on us to carry the torch. We don’t take it lightly and this is one of the things that I think we conveyed successfully, that, as a company, we do have a higher purpose.”
At the time of writing, Litecoin (LTC) is priced at $76.56 USD, with a 1.95% drop, and has a market capitalization of $ 4,415,066,583 USD, according to CoinMarketCap data.