COCA (COCA) is the utility token linked to COCA, a self-custody wallet and payments app focused on stablecoin-based spending, fiat account features and rewards. The app combines a crypto wallet with banking-style functions such as virtual and physical cards, IBAN/SEPA top-ups, card top-ups and stablecoin deposits. COCA describes the banking account as a blockchain smart wallet controlled by the user, with the app providing the interface, card access, support and compliance processes.

The COCA token is an ERC-20 token issued on Polygon PoS and Base. It has 18 decimals, a fixed total supply of 1,000,000,000 COCA and a circulating supply of 63,500,000 as of December 2025. The official contract addresses are 0x7B12598E3616261df1C05EC28De0d2fB10c1F206 on Polygon and 0x959fC04DBf97A27073F89237cd62605F4d1b906D on Base.

COCA’s token allocation is split across treasury, team, partnerships, liquidity, research and development and an AI layer. The allocation is 27% for treasury, 20% for team, 15% for partnerships, 15% for liquidity, 13% for R&D and 10% for the AI layer. COCA’s documents also state that new token distributions are paused until 1 December 2026 and that team vesting runs until December 2034.

COCA Wallet is designed to let users hold crypto, use a banking-style account and spend through a card from the same app. The banking account supports top-ups by IBAN/SEPA transfer, card payment and supported stablecoins. Users can then spend through COCA’s virtual or physical card, add the card to Apple Pay or Google Pay and use it where cards are accepted, subject to regional availability.

The product also includes crypto account functions. COCA’s product documentation says users can manage, buy, send, receive and swap more than 350 coins and tokens across 14 blockchains. Its card documentation says crypto can be used to fund card spending, with conversion handled in the background.

COCA presents its model as different from a traditional bank because the user’s money is held in a wallet rather than on COCA’s balance sheet. The app supplies a bank-like interface, while funds remain in a smart wallet controlled by the user. When a card payment is made, COCA describes the payment flow as an authorisation for a specific amount and merchant rather than open access to the full wallet balance.

COCA describes the wallet as non-custodial, meaning users are meant to keep control of their funds rather than transferring custody to COCA. The website says COCA uses Multi-Party Computation (MPC) cryptography to avoid common seed phrase and private-key handling issues. COCA’s MPC article describes a two-part key structure, with one shard generated on COCA infrastructure and another on the user’s device, so a complete private key is not stored in one place.

COCA also refers to Privy as part of its non-custodial wallet and authentication infrastructure. In that model, users do not manage a traditional seed phrase, while wallet actions still require user authorisation. The same documentation states that Privy does not have custody of funds, COCA cannot move user funds by itself and wallet actions require approval.

The wallet also uses smart wallet features for user controls. COCA’s documentation says users can set limits, permissions and spending controls, and that payments can be approved in a way that avoids manual blockchain steps each time. This is designed to support blockchain payments through a banking-style interface while keeping user control over funds.

COCA is mainly used as a membership and utility token inside the COCA app. The token’s documentation says users lock COCA to unlock tiers, access features and take part in governance. The same section states that staking in COCA is not presented as lending tokens for yield, but as locking tokens to hold a membership level.

COCA is also linked to governance. The governance documentation says token holders can take part in decisions that affect the wallet’s direction. COCA’s public documentation does not specify the exact voting process, voting weight or scope of live governance beyond the general role assigned to token holders.

COCA materials also describe the token as part of transaction fee management through a Universal Gas Token model. This feature is meant to help users pay network fees without needing to hold the native coin of each blockchain used in the wallet.

The token is also tied to user benefits in the app. COCA documentation links token balances or locked COCA to tiered access, higher cashback rates, higher APY balance limits, subscription rebates and support levels. The benefit available to a user depends on the tier and the amount of COCA staked.