Fueling Growth in Stablecoin Payments
UAE-based COCA, a non-custodial payments platform, has secured a strategic investment from the Stellar Development Foundation (SDF) and FunFair Ventures. While the exact investment amount remains undisclosed, this funding marks a major milestone for the company, enabling it to rapidly scale operations and further integrate into the Stellar ecosystem.
Founded in 2023 by Pavel Matveev, COCA combines MPC (multi-party computation) security with a non-custodial debit card, making stablecoin and crypto payments seamless, secure, and accessible. With over 1 million users onboarded in just one year, the company has proven that stablecoins are shaping the future of digital transactions.
Expanding COCA’s Reach
With this fresh investment, COCA aims to accelerate its growth and make stablecoin payments as effortless as traditional banking. Its deep integration with the Stellar network allows users to spend stablecoins at over 80 million merchants worldwide through COCA’s non-custodial Visa debit cards and IBANs.
“This investment is not just financial—it’s a strategic milestone,” said Pavel Matveev, Product Advisor at COCA. “COCA and Stellar Development Foundation share a vision of making financial services more accessible. With Stellar’s support, we’re scaling faster, expanding our platform, and strengthening our position in the global payments space.”
What’s Next for COCA?
COCA is doubling down on innovation to create the best stablecoin payment experience possible. Here’s what users can expect:
- ✅ Seamless Stablecoin Payments – Spend stablecoins anywhere using COCA’s non-custodial debit cards and IBANs with zero intermediaries.
- ✅ Deep Stellar Integration – Tapping into Stellar’s ecosystem, including MoneyGram’s global remittance services and Soroban smart contracts.
- ✅ MPC Security & Anonymous Biometric Backup – Advanced security with no private keys to lose and biometric-based backup.
- ✅ Universal Gas Token (UGT) – A single token to pay gas fees across multiple blockchains.
- ✅ Zero-Fee Swaps & Cross-Chain Transactions – Sending stablecoins just got cheaper and easier.
- ✅ Crypto Cashback Rewards – Earn crypto cashback on every purchase made with the COCA card.
Investor Confidence in COCA’s Vision
Denelle Dixon, CEO & Executive Director of Stellar Development Foundation, expressed confidence in COCA’s potential:
“Stablecoins are revolutionizing payments and creating new economic opportunities for millions. COCA’s user-friendly, non-custodial approach is exactly what’s needed to drive mass adoption, and we’re proud to support them.”
With this investment, COCA aims to redefine stablecoin transactions—turning them into a true everyday payment method. No banks, no middlemen—just pure financial freedom.
