The functionality of Monaco Card makes it a must-have item not only for every Ether or
Bitcoin holder, but also for everyone who spends money in foreign currency.
Every time you spend with the Monaco Card, you will be given perfect interbank exchange rates without markups or fees. In practice that means savings of EUR30-40 on every EUR500 spent,compared to high street banks.
At any time, a holder of MCO can “Redeem and Burn” the MCO for their pro-rata share of each token held by the MCO Asset Contract. The holder will irrevocably destroy the MCO, and in exchange, the MCO Asset Contract will transfer the underlying tokens to the holder.
MCO token will have a market value at or above the assets contained in the MCO Asset Contract. If the value goes below, market participants will be incentivized to purchase MCO and burn it; this will then push the value of MCO back up.