Buy digital dollars &
earn 5% annual yield

Cenoa is a borderless superwallet that improves access to dollar-based products. Cenoa aims to serve the billions of people hit by inflation in emerging markets. Our first product helps you buy digital dollars & earn a fair yield - easily, securely and with zero fees. We aim to add US Dollar-based debit cards and instant money transfer to our product offering.

Our 1st product is focused on inflation because it is one of the biggest and most acute problems in the world right now. Inflation is highest in 40 years. Billions of people in emerging economies are facing currency meltdowns. Limited options force them to store savings in US dollars. But the existing financial systems in many countries make buying dollars very difficult and very expensive and offer almost no yield. 

Our mission is Bringing fair, empowering and innovative financial services to everyone. 

Because Cenoa is founded with the purpose of leveraging modern technologies to bringing solutions to 3 huge problems: 1) growing inflation and devaluation, 2) increasing financial inequality and 3) lack of financial inclusion. Cenoa's initial set of digital dollar-based products aims to address the first problem and serve the billions of people hit by inflation in emerging markets.

Read our blog to learn more about our mission, the problems we are passionate about and why we started the Cenoa movement.

No, Cenoa is not a bank or a licensed financial institution. 

And we do not want to be a bank. Because infrastructure and business models in traditional finance and banking haven’t changed since the 1970s, despite all the rapid technological advancements, shifting economic landscape and growing customer problems.  Everyday people in emerging markets suffer deteriorating living standards and are neglected in a world of rising prices.  The existing financial system fails to offer solutions and makes buying USD either very difficult or very expensive while offering almost no yield.

Cenoa is a software company, a technology company.

Cenoa gives people a superwallet, a tool, that helps people fight inflation. Cenoa superwallet introduces a borderless and non-bureaucratic way to access a digital dollar product without any fees and earn an inflation-resistant yield. This compares to less than 1 percent in most traditional banks, which also take hefty fees and often require paperwork for simple currency exchanges. 

With the US Dollar at its strongest in 40 years, and emerging markets setting the highest USD saving demand, Cenoa’s non-custodial blockchain wallet is helping users make their assets devaluation-proof and increase savings growth. 

Many financial institutions can ACTUALLY pay a higher yield rate, but they just don’t for 2 main reasons. First, they have an expensive and outdated infrastructure. Traditional banking systems were built in 1970's, with many intermediaries to pay, inefficient processes and costly branch networks. So in simple terms, banks have a higher cost base. Second, and more importantly, they just DON'T want to pay higher or fairer yields & they know they can get away with it. The FED (the US Central Bank) sets the benchmark for yields in USD, and right now it is around 5%. So, in a fair world, banks should charge 5-6% to borrowers and offer 4-5% to depositors. Instead, US banks charge ~10% to borrowers and offer only ~0.1% yield to depositors. Because they’ve learned they can generally get away with it, especially after 2008.

Cenoa can offer zero-fee digital dollars & fair yields because of 2 reasons. First, we want people to access fair financial products. For example if FED already offers ~5% yield, then we believe depositors should automatically get fair yields such as 4-5%. Second, Cenoa uses modern and efficient technologies like blockchain and decentralized finance platforms (also known as open finance, or peer-to-peer finance). They cutout inefficient procedures, banks and other intermediaries as well as their fees. In summary, we think what people can access via Cenoa is only fair, nothing unreasonable.

Cenoa is for everyone who wants to protect their savings towards inflation.
We are currently available across 35 countries mostly in Europe, with plans to launch to new markets in Latin America, Africa, Southeast Asia in 2023.
To get started with Cenoa, there is no requirement for a minimum amount of funds. However our trusted financial partner in Europe require a minimum transaction amount of $30. 

Cenoa superwallet enables easy-access to digital dollars and inflation-resistant yields because Cenoa's non-custodial solution cuts out the costs for branches, intermediary fees, and other inefficient procedures of traditional banking. Cenoa achieves this by helping you access modern technologies such as blockchain and decentralized finance platforms (also known as open finance, or peer-to-peer finance). 

Cenoa superwallet aims to make your entire experience super easy, secure and cost-free, so it is integrated and partnered with multiple third party services. Licensed fintechs connect Cenoa with the local banking systems and enable you to deposit and withdraw money easily. Blockchain-based peer-to-peer platforms such as Aave help you buy/sell digital dollars and earn higher yields. 

To learn more about how Cenoa works, scroll down to "How does Cenoa Work? (Advanced Version)"

Cenoa is different from traditional financial institutions. Cenoa's main source of income is not mark ups, fees, spreads in exchange rates or commissions paid by its users. 

Cenoa generates revenue only through one of its partner third party services. When the realized yields are higher than 5%,  the partner makes a profit and it pays a revenue share to Cenoa superwallet.

Cenoa is founded by a world-renowned team, made up of experts from Getir, Garanti BBVA, Facebook, Amazon, Google and McKinsey - who have previously managed global businesses with 50+ million customers.
We're also backed by top global venture capital investors - who backed some of the most iconic Fintechs before.
This team got together all with the common goal of creating something incredible. To learn more about us and our investors, find more about us from our page and do not hesitate to reach out to us from hello@cenoa.com

We believe biggest benefit of blockchain is empowering people to cut-out banks and gain control. So we built Cenoa superwallet as a non-custodial wallet to give you full control.  If the worst happened to Cenoa as a company and Cenoa superwallet disappeared, you could still easily access, manage and withdraw your digital dollars using another wallet.

First of all, Cenoa is not a bank and traditional finance institution. So, customers using Cenoa superwallet actually get rid of some of risks they are already taking such as savings losing value due to inflation and devaluation, or savings getting frozen by banks in the worst-case scenario.

Second, the one of the biggest benefits of blockchain is it cuts out  rent-seeking intermediaries (like banks).  Users never give up full control when using Cenoa superwallet, as it is a non-custodial wallet. If Cenoa as a company went bankrupt, customers could still easily access, manage and withdraw their digital dollars - simply by using another wallet. 

At the same time, as Cenoa is a software company,  cybersecurity is a potential risk just like any software. We ensure cybersecurity by:

• Being built and regularly audited by world-class security experts
• Using best-in-class security solutions, just like many other technology companies and mission critical systems
• Integrating and partnering only with leading and battle-tested decentralized finance platforms such as Aave; and regulated fintechs such as Transak.
• Keeping  blockchain development fully transparent and open source - customers can check themselves how the system works and manage their digital dollars
• Never holding customer funds. They are safely stored away on the blockchain which is programmed to pay back the principal and a fixed yield

Cenoa superwallet enables easy-access to digital dollars and inflation-resistant yields because Cenoa's non-custodial solution cuts out the costs for branches, intermediary fees, and other inefficient procedures of traditional banking. Cenoa achieves this by helping you access modern technologies such as blockchain and decentralized finance platforms (also known as open finance, or peer-to-peer finance). 

Cenoa superwallet aims to make your entire experience super easy, secure and cost-free, so it is integrated and partnered with multiple third party services. Licensed fintechs connect Cenoa with the local banking systems and enable you to deposit and withdraw money easily. Blockchain-based peer-to-peer platforms such as Aave help you buy/sell digital dollars and earn higher yields. 

Let's discuss in more detail how the solution works and what partners help it work:

1. Opening an account in Cenoa superwallet mobile app: 

Cenoa superwallet helps you open an account on Avalanche blockchain in just 1 minute. It gives you an interface to manage your digital money (also known as digital assets). Cenoa superwallet is a non-custodial blockchain wallet, which means it can never control, move or invest your digital assets. Only you can control, move or invest your digital assets. 

2. Depositing money to Cenoa superwallet:

Cenoa superwallet is integrated with fintechs (such as BiLira or Transak -a UK Financial Conduct Authority licensed fintech) so that users can connect with the local banking systems and  deposit/ withdraw money easily within Cenoa superwallet app.

When a user wants to deposit money to Cenoa superwallet account, she sends money to the integrated fintech (e.g., Transak) via local banking system and in local fiat currency (e.g., Euro). The integrated fintech converts the money to digital money (also known as digital asset) and sends it to the user's account on Avalanche blockchain. The user can view and manage the received digital asset by using Cenoa superwallet. 

3. Buying digital dollars   

When a Cenoa user wants to buy digital dollars and earn yield, she approves a transaction in Cenoa superwallet mobile app to move her digital assets to the automated investment module. 

This module is developed and published to Avalanche blockchain by a trusted software developer partner. It is a fully-automated, immutable and decentralized software (also known as smart contract). This means nobody can change the rules or logic in the software, including the software developer. This provides transparency and security to the user, because the user can see how her digital dollars will be managed by the software and can know nobody can touch her digital dollars.

The module uses only USDC as digital dollars. USDC is known as a fully-reserved stablecoin, every digital dollar of USDC on the internet is 100% backed by cash and short-dated U.S. treasuries, so that it’s always redeemable 1:1 for U.S. dollars. USDC is issued by Circle,  a fintech that is regulated as a licensed money transmitter under U.S. state law just like PayPal, Stripe, and Apple Pay. Circle’s financial statements are audited annually and subject to review by the Securities and Exchange Commission in the US. Circle holds more than $43 Billion in reserves and enabled $9 Trillion in transaction volume.

First, the module swaps her local digital money for digital dollars using real market rates via a blockchain-based peer-to-peer exchange platform named TraderJoe that operates on Avalanche blockchain. 

4. Earning yield 

Second, the module stakes the digital dollars to decentralized platforms that allow peer-to-peer lending and borrowing, such as Aave, Benqi and Stargate to earn yield. The module automatically manages allocation of digital dollars to these yield platforms based on the defined rules to minimize risk and optimize returns. 

5. Ensuring a fixed yield rate

Cenoa integrated with a liquidity provider to ensure the yield rate is fixed for users. The automated investment module does not allow user deposits, unless the fixed yield rate defined in its code is already locked by a liquidity provider into the module. 

For example, if someone wants to deposit 100 USDC and the coded rate is 8% annual yield, the module does not accept customer deposit unless it has 2 USDC already locked by a liquidity provider. (The 2 USDC in this example refer to the standard 90 day investment cycle. Annualized this will be 8 USDC.) 

Customers get the fixed yield rate defined in the code regardless of what the automated investment module generates. The liquidity provider takes both upside and downside risk regarding the yield rate.

The liquidity provider deposits digital dollars as liquidity into the automated investment module on day 1. The liquidity provider can withdraw digital dollars only after the module's 90-day active period ends. And the liquidity provider can withdraw only the excess amount, which is the difference between the amount owed to users (principal and yield) and the existing amount. 

Summary

In summary, the Cenoa superwallet enables people to buy dollars and earn a fair yield securely and with zero fees via blockchain-based decentralized finance platforms. At the same time, it integrates these platforms to create a seamless customer journey and greatly moderate risk. 

Even in the absolute worst case scenario of Cenoa superwallet going bankrupt and our wallet app disappearing – customers can still easily access, manage and withdraw their digital dollars through another wallet.