COCA, a UK-based self-banking application with over one million users across 75 countries, has released COCA 3.0, adding bank accounts and real-time yield to its existing platform of a Visa card, stablecoin wallet, and cashback rewards.
The update makes COCA one of the first consumer finance applications to combine a full neobank product suite with non-custodial fund ownership, in which the company has no technical ability to move, freeze, or access user funds.
Live features in COCA 3.0 include personal EUR IBANs for SEPA transfers, allowing users to receive salaries, pay bills, and send and receive money globally. Funds begin accruing yield immediately upon arrival. A 5% APY on spendable card balances accrues continuously with no minimum balance, no lock-up, and no staking requirement, generated via Morpho, an audited DeFi lending protocol, with risk management provided by Gauntlet. A redesigned app interface brings balance, live APY, a Visa card, and a bank account into a single view, with Banking, Crypto, and Rewards sections allowing users unfamiliar with crypto to use the platform as a conventional bank account without engaging with on-chain functionality.
Product roadmap and existing capabilities
USD accounts with ACH support and card-to-card transfers are described as arriving within weeks. COCA's existing platform includes a Visa card supporting fiat and stablecoin spending with up to 8% cashback on everyday purchases and 50% cashback on subscription services, hotel discounts of up to 65%, and a self-custodial crypto wallet supporting more than 350 tokens across 12 blockchains with zero fees.
The non-custodial model distinguishes COCA structurally from conventional neobanks, including Revolut, N26, and Nubank, which hold customer funds on institutional balance sheets, and from custodial stablecoin payment applications. COCA targets crypto holders seeking to spend and earn on stablecoins without surrendering custody, professionals receiving crypto income who need primary banking infrastructure, and consumers in high-inflation markets seeking stable accounts outside institutional control.
Commenting on the news, Vasili Paulau, CEO of COCA, noted that the platform removes the trade-off between banking convenience and fund ownership, and describes COCA 3.0 as what self-banking means in practice.
