The only thing I don't understand is what's the difference between Monaco/Tenx and some other debit cards I've seen online like Uquid? Why is Monaco said to be the first?
TenX is basically offering a rebranded Wavecrest "MyChoice" VISA card. For TenX users, WaveCrest is the actual card issuer and TenX is just a middleman getting a cut of the fees generated.
https://mychoicecorporate.com/https://www.tenx.tech/card-terms.htmlMonaco is trying to establish themselves as an original card issuer, which means they have to meet the same VISA standards as any major bank.
https://usa.visa.com/dam/VCOM/download/about-visa/15-April-2015-Visa-Rules-Public.pdfMonaco is aiming to establish itself higher up the "credit food chain" than TenX has initially done. It is possible that in a few years TenX could switch from WaveCrest to Monaco as its actual card issuer.