Mass Adoption: An Interview with Sneh Bhatt, CEO of Monarch Token

“A customer should be able to pay with Visa, pay with PayPal, pay with Monarch. That’s how simple it should be.”—Sneh Bhatt

Image Source: – Sneh Bhatt Monarch Token – CEO

In the world of cryptocurrency, we are most likely familiar with names like Bitcoin, Ethereum, XRP, or Binance. While these are the most popular, and in the top 10 of cryptocurrencies—they are just a few of the thousands of cryptocurrencies now being traded. According to Yahoo Finance  “there are approximately 2,957 cryptocurrencies being traded with a total market capitalization of $221 Billion, as of October 8th, 2019.” The top 10 cryptocurrencies, continues Yahoo Finance, represents about 85% of the total market value.

To trade crypto one will need to sign on with a cryptocurrency exchange. To date, it’s estimated that there are over 500 exchanges. Cryptimi’s authors write that it’s difficult to know the exact number of exchanges at any given moment. With as many cryptocurrencies and exchanges in existence, it can be a daunting task to trade and maintain a portfolio of cryptocurrencies and exchanges.

 Monarch Introduces Wallet

Released in July 2018—Monarch released their first wallet which addresses many of the complexities of the current system of buying and trading cryptocurrency. Monarch is a wallet app that allows users to buy and sell any cryptocurrency on the market, and work with any exchange using a single Know Your Customer (KYC) process.

By February 11, 2019, as reported by Reuters—Monarch had over 200,000 downloads. The wallet supports Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Stellar (XLM) and all ERC20 tokens!

“On top of having what is deemed by many to be the best universal decentralized cryptocurrency wallet to date, Monarch continues adding more flexibility, streamlining, making their wallet more seamless, while adding more capabilities for their users.” (Reuters)

Sneh Bhatt at CIS

Image Source: – Sneh Bhatt (Right) – Robert Beadles (Center) – Aaron Beadles (Left).  Team Monarch was visible all over the event when they weren’t on stage they were at the their booth answering the public’s questions and spreading mass adoption!

At the recent 2019 Crypto Invest Summit (CIS) in Los Angeles, I had the opportunity to talk with Sneh Bhatt, co-founder of Monarch. We discussed a number of topics related to Monarch and the industry.

“Sneh Bhatt has been in the Cryptocurrency space since 2014. Serving as CEO and Co-Founder of, an investment platform and ICO marketing company. Cryptosomniac has worked with over 70 ICOs in various capacities and has thousands of users registered to the website.”

The Monarch Wallet

Today, with its decentralized universal crypto wallet, Monarch provides you with your own private key in your own possession and you will be able to withdraw at any time. The wallet holds all cryptocurrencies—including Steller, Ripple, NEO, Bitcoin, Bitcoin Cash, and Ethereum.

A key advantage to the Monarch Wallet says Bhatt is that you have your own key. The ecosystem offers a high level of security since it is “not hackable in any sort of way.” He described a few of the features of the Monarch Wallet. It uses a smart routing system with a number of institutional centralized exchanges, where one can buy and sell cryptocurrency at the best prices directly from your wallet with one KYC. Moreover, you can earn interest on your bitcoin. Unlike other ecosystems the user can earn interest in their interest account, with Bitcoin or Ethereum at the current annual rate of 4.6%.

Recurring Payment System

Bhatt shared with me that Monarch has developed the world’s first decentralized recurring payment solution, currently in beta. With this system of payments, users will be able to make monthly payments for their Netflix account. Using a push technology, it can be set up to make monthly payments in perpetuity.

Users and merchants can choose to accept payment in any stable token with a low fee compared to the typical credit card. It uses smart contracts to make payments. A key advantage for the merchant is that they will receive instant payments to their account, and not be faced with chargebacks.

Target Audience for Mass Adoption

I asked about Monarch’s primary audience. The goal for Monarch is to reach the average consumer and merchants. One shouldn’t think of the Monarch wallet as a day trading app, says Bhatt.

Bhatt cited Andreas Antonopoulos on mass adoption. We will recognize mass adoption when people start to think about transactions for goods and services—not in dollars—but in terms of Bitcoin, or in satoshi. Bhatt added that mass adoption will be evident when people stop “thinking in terms of paying for a product as ‘Hey this cost me $5, or $10’, but instead think in terms of ‘this cost me 10 satoshis, .002 Ethereum, or Bitcoin’. It will happen when we start thinking in terms of bitcoin, not in fiat.”

“Mass adoption will be evident when people stop “thinking in terms of paying for a product as ‘Hey this cost me $5, or $10’, but instead think in terms of ‘this cost me 10 satoshis, .002 Ethereum, or Bitcoin’” –Sneh Bhatt.

As the regulatory field develops more clarity and acceptance, we will begin to see mass adoption within the next 10 to 15 years. The industry is still in its infancy, with many issues needing to be resolved. The consumer still doesn’t understand cryptocurrency, how to get it, or how to spend it. Educating the public remains one the biggest challenges in this industry, and for Monarch. Bhatt says he enjoys speaking to organizations and crypto groups on campus at USC or UC Irvine.

He hopes that Monarch will play a part in moving the consumer to mass adoption by making it easy for every consumer to download the Monarch app on every single phone where they can hold their own assets and be able to trade it whenever the consumer decides.

Market Acceptance

One area that will support mass adoption is working closely with merchants. Bhatt says on working with merchants: “A customer should be able to pay with Visa, pay with PayPal, pay with Monarch. That’s how simple it should be.”  The system will be able to accept any cryptocurrency. Merchants decide which cryptocurrency they want to accept. They will be able to “pinpoint any cryptocurrency—like Bitcoin, Ethereum or any stable currency.”

The beauty of Monarch, Bhatt said, is that they can work with any exchange. “We will partner with everybody we deem is financially sound and trustworthy to benefit our users.” Monarch has over 350,000 users. With one KYC process, adds Bhatt, Monarch relays that information to the exchange. “So exchanges win because Monarch brings users to them, and users win by getting a whole new different type of service.”


With the complexities of cryptocurrency for the typical consumer—by having as many cryptocurrency and exchange options—it can be confusing for the consumer to get into cryptocurrency. Key to working toward mass adoption is user experience. It should be as easy as using a debit card, credit card, or QR code.

Monarch appears to be poised to make the user and merchant experience a whole lot easier to use and to adopt the ability to pay for a product by any means chosen by the customer and accepted by the merchant.


Samuel H. is an author, writer and speaker with over twenty years in the educational technology sector.

Contact Samuel


Recommended Stories

New Coronavirus Stimulus Bill Introduces Digital Dollar And Digital Dollar Wallets

WHO Encourages Use Of Contactless Payments Due To COVID-19

Blockchain Digital ID — Putting People in Control of Their Data

Why Bitcoin’s Safe-Haven Narrative Has Flown Out the Window

Unknown miners take over Bitcoin SV blockchain

CasperLabs Pivots Away From Ethereum to Fundraise With Its Own Blockchain

New Coronavirus Stimulus Bill Introduces Digital Dollar And Digital Dollar Wallets