# Coco Wallet

> Coco Wallet (YC S19) is a global dollar account powered by stablecoins. Founded by Venezuelan entrepreneur Kevin Charles and his co-founders, it lets Latin American migrants and their families send, spend, save, and earn in digital dollars from a mobile app - combining the simplicity of a neobank like Nubank or Revolut with the freedom of self-custodial Web3, so people can access stable, borderless money without a traditional bank.

- **Founded:** 2019
- **Headquarters:** San Francisco, California, United States
- **Founders:** Kevin Charles (Co-Founder & CEO), Victor Charles (Co-Founder & CFO), Francisco Jose Martin Toro (Co-Founder)
- **Team size:** Approx. 50-80 employees
- **Products:** Coco Wallet app, Stablecoin remittances, Merchant payments network, Dollar savings, Coco Mercado
- **Notable:** Founders built Surbitcoin, Venezuela's first Bitcoin exchange (2014)., Selected for Y Combinator Summer 2019 batch., Won first place at Celo Camp and raised $500K from Web3 investors.

## Products & services

- **Coco Wallet app** — A mobile, self-custodial wallet that lets users send, spend, save, and earn in digital dollars (stablecoins) using just a phone number. Available on iOS and Android as 'Coco Wallet - Banca Digital'.
- **Stablecoin remittances** — Cross-border money transfers settled in seconds via stablecoins, cutting the cost and delay of traditional remittance channels.
- **Merchant payments network** — Recipients can spend directly at Coco-affiliated merchants - supermarkets, pharmacies, and convenience stores - or exchange stablecoins for local currency.
- **Dollar savings** — Hold value in dollar-pegged stablecoins (USDC/USDT) as a hedge against local inflation and currency volatility.
- **Coco Mercado** — Earlier product from the same team - an online marketplace for food and medicine, launched to serve Venezuelan families.

## Achievements

- Founders built Surbitcoin, Venezuela's first Bitcoin exchange (2014).
- Selected for Y Combinator Summer 2019 batch.
- Won first place at Celo Camp and raised $500K from Web3 investors.
- Processed $21M+ in cumulative transactions with 60,000+ users across 100+ countries.
- Reported transaction growth of 120% week-over-week after 2022 launch.

## Latest updates

- **2022-02** — Official launch in Venezuela, with expansion to Mexico the following month.
- **2022-02** — Opened a Wefunder community round at an approximately $12M valuation.
- **2023** — Rebranded and positioned as Coco Wallet - a global dollar account for send/spend/save/earn in stablecoins.

## Links

- Website: https://cocowallet.app
- LinkedIn: https://www.linkedin.com/company/cocowallet
- Twitter/X: https://twitter.com/cocowallets
- Instagram: https://www.instagram.com/cocowallets/
- Facebook: https://www.facebook.com/cocowallets/

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Profile page: https://yespress.io/coco-wallet-yc-s19
Published by YesPress — https://yespress.io
Last updated: 2026-07-31