Deposits and withdrawals of the MCO token on Binance.com will be enabled from 3 pm HKT on Tuesday, August 22. Trading begins 3 pm HKT on Wednesday, August 23.
Founded in June 2016, Monaco is based in Switzerland with operations in Hong Kong, and Singapore. Its cryptocurrency platform allows users to spend Bitcoin and Ethereum at interbank exchange rates anywhere Visa cards are accepted.
The company claimed it recently raised over $26.7 million through its token sale.
Monaco co-founder and CEO Kris Marszalek, said they believe Binance will enable its users in China to trade the MCO token conveniently and securely.
“Since the successful closing of our token sale earlier this June, our team received thousands of inquiries from Chinese users regarding a local listing of the MCO token,” Marszalek said, noting they reached the top 10 global digital asset exchanges by trading volume within 30 days of launch.
Binance CEO Changpeng Zhao, said the cryptocurrency community needs initiatives that will drive adoption globally, and the company is confident in Monaco team’s ability to deliver a fantastic product.
“We are supportive of Monaco’s vision to bring cryptocurrency to every wallet,” Zhao said. “Monaco is perfectly aligned with Binance’s mission to allow everyone to exchange digital assets seamlessly.”
Binance reported it raised $15 million in July 2017 and is rapidly gaining market share in digital asset trading. It claims to be capable of processing 1.4 million orders per second.
Zhao and the rest of the Binance team present themselves as experienced both on Wall Street and in crypto finance.