COCA Unveils COCA 3.0, Expanding Its Self-Banking App With EUR Accounts, Real-Time Yield, and Non-Custodial Control
COCA has launched COCA 3.0, a significant product replace that brings bank-account performance, real-time APY, and a redesigned app expertise into its self-custodial finance platform.
The launch pushes COCA past the usual fintech mannequin by combining day-to-day banking instruments with user-controlled fund possession inside a single cellular app.
COCA now presents a self-banking expertise constructed round the concept customers can spend, save, and earn with out giving up management of their cash.
A broader banking product inside one app
COCA 3.0 introduces private EUR IBAN accounts for SEPA transfers, permitting eligible customers to obtain wage funds, pay payments, and transfer funds from inside the app. Funds start incomes APY as quickly as they arrive. USD accounts with ACH assist are coming subsequent. The new model is now reside on iOS and Android.
Non-custodial possession on the centre
A key a part of the launch is COCA’s non-custodial account mannequin. User funds stay in self-custodial wallets and can’t be accessed, frozen, or moved by COCA or one other middleman with out consumer authorization. This creates a transparent distinction between COCA and each conventional neobanks and custodial crypto cost apps.
“Consumers have spent years selecting between comfort and management,” stated Vasili Paulau, Chief Executive Officer at COCA. “With COCA 3.0, we’re bringing collectively on a regular basis banking, rewards, and yield in a format the place possession stays with the consumer. We see that as the subsequent step in private finance.”
Real-time APY on energetic balances
COCA 3.0 replaces the standard month-to-month rewards format with real-time APY accrual on spendable balances. APY accrues repeatedly, with out lockups or minimum-balance necessities. Yield is generated by means of Morpho, with danger administration by Gauntlet. Returns observe market circumstances somewhat than momentary promotional charges.
Designed for each crypto-native and mainstream customers
The up to date interface makes the app simpler to make use of for each crypto-native and mainstream customers. The new house display brings balances, reside APY, card entry, and banking instruments into one view, whereas the app is split into devoted Banking and Crypto sections. Users preferring a extra acquainted expertise can use COCA primarily as a banking app with out partaking with the crypto facet.
What comes subsequent?
The subsequent wave of updates contains prompt card-to-card transfers and USD accounts with ACH performance for customers throughout a number of areas. The wider COCA product suite already features a Visa card, cashback on spending, subscription rebates, lodge reductions, and crypto pockets performance spanning a whole bunch of tokens throughout a number of blockchains.
“Stablecoin-based cost rails and automated settlement open a extra environment friendly working mannequin than legacy banking programs,” stated Max Holub, Head of Product at COCA. “That helps create room for stronger rewards, energetic balances that earn, and a consumer expertise constructed round possession from the beginning.”
About COCA
COCA is a self-banking platform that mixes a checking account, pockets performance, cashback, and yield in a non-custodial setup. The platform permits customers to spend, maintain, and earn whereas retaining management over their funds. COCA’s ecosystem features a Visa card, IBAN performance, cashback applications, and app-based crypto providers.
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