Cryptocurrency platform Monaco as joined the Enterprise Ethereum Alliance (EEA) in order to boost its commitment to the security and efficiency of blockchain technology and to support the adoption of Ethereum in the enterprise.

Founded in June 2016, Monaco is a payments and cryptocurrency platform headquartered in Switzerland. It has raised US$26.7 million through its MCO token sale.

EEA is a leading open source blockchain initiative with over 400 member companies including the likes of Microsoft, J.P. Morgan, Cisco Systems, Deloitte, Thomson Reuters and others. Monaco will join these industry leaders to sharpen its own technology and financial products such as the Monaco Wallet App, Monaco Visa Card, Monaco Auto Invest, and Monaco Credit.

"We are delighted to join EEA members from Fortune 500 enterprises, startups, and academics to develop an open-source standard and, in turn, evolve Monaco's services in tandem with advances in public Ethereum. Keeping all businesses with a blockchain component accountable with a robust governance model aligns with Monaco's goal of honest financial products that improve lives,” Kris Marszalek, Co-Founder and CEO of Monaco said.