COCA, an application for self-banking based in the UK and operating in over 75 countries with more than one million users, has introduced COCA 3.0, which now offers bank accounts alongside its existing suite of services including a Visa card, stablecoin wallet, and cashback rewards.

This update positions COCA as among the first consumer finance applications to integrate a comprehensive neobank service with non-custodial fund ownership, ensuring that the company cannot interfere in user transactions or control their funds.

Key features of COCA 3.0 include personal EUR IBANs for SEPA transfers, enabling users to receive salaries, pay bills, and conduct international payments effortlessly. Once funds are received, they start earning a yield immediately at an annual percentage yield (APY) of up to 5%, which is generated through Morpho, a reviewed DeFi lending protocol, with risk oversight provided by Gauntlet.

Enhanced User Interface and Features

The updated app interface consolidates balance, live APY, the Visa card, and the bank account into a single view. The Banking, Crypto, and Rewards sections are designed to make it easy for users unfamiliar with cryptocurrency to manage their accounts just like traditional bank accounts without interacting directly with blockchain technology.

Future plans include the addition of USD accounts with support for ACH payments and card-to-card transfers within weeks. COCA’s existing services already feature a Visa card that supports both fiat and stablecoin transactions, offering up to 8% cashback on daily purchases and 50% cashback on subscription services, along with hotel discounts as high as 65%. Users also benefit from a self-custodial crypto wallet supporting over 350 tokens across 12 blockchains at no additional cost.

Unlike traditional neobanks like Revolut, N26, and Nubank that hold customer funds on institutional balance sheets or custodial stablecoin payment applications, COCA offers a non-custodial model. This appeals to crypto holders who wish to spend and earn in stablecoins without relinquishing control over their assets, professionals receiving crypto income needing reliable banking services, and consumers in high-inflation regions looking for stable accounts beyond the reach of institutional influence.

Vasili Paulau, COCA’s CEO, emphasized that this platform removes the dilemma between convenience in banking and maintaining ownership over funds. He stated that COCA 3.0 embodies what self-banking truly means in practice.