Monarch Wallet Review: How the Multi-Asset Crypto App…
By Damilola Esebame
AI summary of the source article
Monarch Wallet was developed as a non-custodial application supporting more than 3,000 cryptocurrencies alongside an integrated decentralized exchange and biometric security. Its creator, Robert Beadles, also introduced MonarchPay to provide decentralized recurring payments at a 1 percent processing fee. Despite reporting over 315,000 users in 2019 and assembling an advisory board with industry figures, MonarchToken currently trades at effectively zero with no volume recorded on CoinMarketCap. With no recent product announcements on social media, questions persist regarding its ongoing development, though existing users still retain access to their locally stored private keys.
Why it matters
Zero trading volume and absent development updates suggest the project may be dormant, highlighting risks for users evaluating the application despite its non-custodial architecture.
Key facts
- Monarch Wallet supports over 3,000 digital assets with non-custodial storage and decentralized exchange functionality.
- MonarchToken has 36.5 million circulating tokens out of a one billion total supply, with no tracked price or trading volume on CoinMarketCap.
- MonarchPay was launched as a decentralized recurring payment platform charging a 1 percent processing fee.