On a recent Beincrypto podcast, we chatted with Coca co-founder Pavel Matveev about the newly launched Coca 2.0. This app is set up to make Stablecoin payments as easily as using your favorite banking app.
We explored why Coca is ticking, why Stubcoin has achieved status, and how this can lead the code to a larger crowd.
Stablecoins are built for real-world spending
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Matveev began the discussion by highlighting the growing momentum around Stablecoin payments.
Unlike many speculative focuses in the crypto industry, he says, Stablecoins offers grounding utilities with fast, accessible, cost-effective transactions.
Stablecoins is not a new innovation in the industry, but he specifically pointed out that 2025 is the turning point for this segment.
“We see an increase in the number of use cases this year. We’ll see more focus and hype about stubcoin payments,” he told Beincrypto.
In the past, he said he has tried to build payment solutions that have few adoption by many companies and ecosystems.
What makes 2025 different, according to Matveev, is that its clarity of regulations and a stronger blockchain infrastructure can now offer a payment experience like Web2 with Stablecoins.
Matveev has spent years on payments and banking, and considers Stablecoins to be the key to Crypto’s next chapter.
He compared it to the rise of apps like Revolut a decade ago. Today, some of these startups are more valuable than traditional banks.
For him, Stablecoin Banking represents a similar moment, only on a large scale.
“At this point, for Stablecoin payments and Stubcoin banking, this is a similar moment, but in reality the outcome and impact is ten times higher, because Stablecoin not only covers the banking experience, but also covers wider payment use cases (A),” explained Matveev.
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Scepticism is not a deterrent, he added. “We’ve been in the industry for a long time, so we’re growing at this moment and the results are ten times bigger,” he asserted.
Reconstruct coca from scratch to catch stable waves
This vision of Stubcoin as a new financial infrastructure is precisely what prompted Coca to make bold decisions to rebuild its apps from scratch.
The first version of Coca was an independent MPC wallet for audiences from crypto, but the team realized that fundamental changes were needed to serve the wider market.
Matveev explained: “But at some point, there’s a wallet or exchange and when I add a card or crypto card, it doesn’t look like a banking app.”
Instead of bolting the function, the team shifted direction. “We want to create a banking experience from scratch with stablecoins,” he said.
This meant that traditional banking flows would move to the front of the app and push the crypto native mechanic into the background.
To achieve this seamless Web2-like experience, Coca directly addressed three historical points of friction that hindered mainstream cryptography adoption.
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The first is the complexity of private keys and seed phrases, which are major barriers to the average user.
Coca solved this using multi-party computing (MPC) technology and biometric encryption, eliminating the need for users to manage complex seed phrases.
The second is the pain in gas prices for on-chain transactions. At Coca, these are sponsored entirely by the platform.
Matveev said, “For the consumer, they don’t see it again, but in reality there’s a transaction happening on the blockchain. So, because funds are deducted from the account abstraction, this transaction is in the chain and gas is sponsored by Coca.
Finally, the problem of fluidity fragmentation across different chains is solved by Coca’s support for multiple networks.
Trust through services and rewards
For Matveev, building trusts are just as important as building technology. “When it comes to dealing with people’s money, trust is very important,” he said. “In retail applications, there’s only one chance to make a first impression, so that’s very important.”
To provide that reliability, Coca has invested in the global user base’s 24/7 support, making sure no one waits.
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Trust has also been extended to the way people choose their primary card. “You need to develop a very good loyalty or incentive program. So, in reality, customers have an incentive to use the card, not the other cards,” explained Matveev.
Therefore, COCA 2.0 offers cashback of up to 50% on purchases, hotel discounts and subscriptions for your selected platform.
The approach is already shaped by those using the app. “We have wealthy individuals who spend a lot of money on buying things like plane tickets and travel, and some people buy cars,” Matveev says.
“We also have a segment of customers like freelancers. They get paid in stablecoins and use it… they pay for products and services.”
Mass market users are also involved, and are often portrayed as cashback perks. The average Coca user is 32, and 80% are male.
Matveev emphasized that integration with Visa allows Coca cards to be used for everyday purchases.
Users can use stubcoin in both online and offline stores of 80 million merchants worldwide, covering everything from groceries and restaurants to travel, including everyday spots like McDonald’s.
Coca 2.0 is live on iOS and Android and is ready to make Crypto as easy as a banking app. Curious? For more information, see coca.xyz.
Catch all the complete podcast episodes of Pavel Matveev’s Insights and subscribe to Beincrypto’s podcasts to give you the main voices of Crypto and give more talks.
