Why Stablecoin Banking Will Be ‘10 Times Bigger’: A Conversation with Pavel Matveev Co-founder of COCA
In a latest BeInCrypto podcast, we chatted with Pavel Matveev, co-founder of COCA, about their newly launched COCA 2.0. This app units out to make stablecoin funds as simple as utilizing your favourite banking app.
We explored what makes COCA tick, why stablecoins are gaining floor, and the way this might deliver crypto to a wider crowd.
Stablecoins Are Built for Real-World Spending
Matveev kicked off the dialogue by highlighting the rising momentum round stablecoin payments.
According to him, not like the speculative focus of a lot of the crypto trade, stablecoins offer grounded utility with quick, accessible, and cost-effective transactions.
While stablecoins usually are not new improvements within the trade, he particularly identified that 2025 is a turning level for this section.
“This 12 months we see a rise within the quantity of use instances, we see extra focus or extra hype about stablecoin funds,” he informed BeInCrypto.
In the previous, he famous, many firms and ecosystems tried to construct fee options with little adoption.
According to Matveev, what makes 2025 completely different is that regulatory readability and stronger blockchain infrastructure now make it potential to ship a Web2-like fee expertise powered by stablecoins.
Having spent years in funds and banking, Matveev sees stablecoins as the important thing to crypto’s subsequent chapter.
He in contrast it to the rise of apps like Revolut a decade in the past, when folks scoffed at challenger banks taking over the massive names. Now, some of these startups are price greater than conventional banks.
For him, stablecoin banking represents the same second, solely on a bigger scale.
“Stablecoin for the time being for stablecoin funds and for stablecoin banking, this can be a related second, however really end result and impression shall be 10 occasions extra as a result of stablecoin isn’t just overlaying the banking expertise, but it surely’s overlaying [a] broader vary of fee use instances,” Matveev defined.
Skepticism, he added, isn’t any deterrent. “Being within the trade for a protracted, very long time, we are going to develop for this second, and the end result shall be 10 occasions greater,” he affirmed.
Rebuilding COCA from Scratch to Catch the Stablecoin Wave
This imaginative and prescient of stablecoins as the brand new monetary infrastructure is exactly what prompted COCA to make the daring resolution to rebuild its app from scratch.
While the preliminary model of COCA was a self-custody MPC pockets geared towards a crypto-native viewers, the workforce realized a elementary shift was wanted to serve a broader market.
Matveev defined, “But in some unspecified time in the future we realized… when you’ve gotten a pockets or trade and also you add a card or crypto card to it, it’s not likely turning into like your banking app.”
Instead of bolting on options, the workforce shifted path. “We need to create a banking expertise from the bottom up powered by stablecoins,” he mentioned.
That meant shifting the normal banking flows to the entrance of the app and pushing the crypto-native mechanics into the background.
To obtain this seamless Web2-like expertise, COCA has straight addressed three historic friction factors which have hindered mainstream crypto adoption.
The first is the complexity of non-public keys and seed phrases, a serious barrier for the typical consumer.
COCA solved this by utilizing Multi-Party Computation (MPC) know-how and biometric encryption, eliminating the necessity for customers to handle a fancy seed phrase.
The second is the ache of fuel charges for on-chain transactions. With COCA, these are sponsored totally by the platform.
Matveev defined the mechanics, stating, “For shoppers, once more, they don’t see it, however a transaction really occurs on the blockchain… so funds are debited from account abstraction, this transaction goes on the chain and the fuel is sponsored by COCA,” he elaborated.
Lastly, the issue of liquidity fragmentation throughout completely different chains is solved by COCA’s help for a number of networks, which abstracts away the complexity of managing completely different stablecoin variations.
Trust Through Service and Rewards
For Matveev, constructing belief is as crucial as constructing know-how. “When it involves dealing with folks’s cash, belief is essential,” he mentioned. “With retail purposes, it’s extraordinarily vital as a result of you’ve gotten just one probability to make a primary impression.”
To ship that dependability, COCA invested in 24/7 help for its international consumer base, guaranteeing nobody is left ready.
Trust additionally extends to how folks select their main card. “You have to develop an excellent loyalty or incentives program. So really prospects have some incentives to make use of your card and never the opposite card,” Matveev defined.
That is why COCA 2.0 provides cashback on purchases, resort reductions, and as much as 50% off subscriptions to chose platforms.
The strategy has already formed who makes use of the app. “We have high web price people who spend huge cash on shopping for issues like airplane tickets or journey. We have folks shopping for vehicles as properly,” Matveev mentioned.
“We even have a section of our prospects who’re like freelancers. They’re receiving a wage in stablecoins after which they only use it… pay for items and providers.”
Mass-market customers are becoming a member of too, typically drawn by cashback perks. The common COCA consumer is 32, and 80% are male.
Matveev highlighted that the COCA card can now be used for on a regular basis purchases due to its integration with Visa.
Users can spend their stablecoins at each on-line and offline shops throughout 80 million retailers worldwide, overlaying every thing from groceries and eating places to journey, together with on a regular basis spots like McDonald’s.
COCA 2.0 is stay on iOS and Android, able to make crypto as simple as your financial institution app. Curious? Check out coca.xyz for extra particulars.
Catch the total podcast episode for all of Pavel Matveev’s insights, and subscribe to BeInCrypto’s podcast for extra talks with crypto’s main voices.
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