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Co-CEO, leading GrowthOctober 3, 2022

What is Cenoa?

Learn about Cenoa, a new and powerful fintech super wallet for making your savings inflation-resistant and devaluation-proof.

What is Cenoa?

All over the world, everyday people are dealing with the impacts of inflation and the high cost of living. They know there are great investment opportunities out there that can help with planning their financial future, but they don’t have the time to learn everything they need to know to feel comfortable getting into modern technologies and platforms such as decentralized finance (DeFi), which is also known as open finance or peer to peer finance.. 

You may be familiar with high yield savings accounts, which typically provide around 2% yield. Unfortunately they are available only to US residents and typically not available in emerging markets. Cenoa is a “superwallet” that allows you to see higher yields on your savings without the fees and hassle associated with traditional banks.

We’ll get into everything you need to know about Cenoa and fintech wallets.

What is the Cenoa Super Wallet?

Cenoa is a borderless super wallet 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 U.S. Dollar-based debit cards and instant money transfer to our product offering.

Our first 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 U.S. dollars. But the existing financial systems in many countries make buying dollars very difficult and very expensive and offer almost no yield

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 super wallet, a tool, that helps people fight inflation. The Cenoa Super Wallet 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 one percent in most traditional banks, which also take hefty fees and often require paperwork for simple currency exchanges. 

With the U.S. 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. 

Who came up with the idea for the Cenoa app?

Cenoa is co-founded by Bugra Cakmak, Emre Ertan, Seckin Caglin, and Sirri Perek.

Who are Cenoa’s investors?

Cenoa is supported by world-class investors with more than $5 billion in funds, like Underscore VC, Quiet Capital, Acrew Capital, Collective Spark, Ulu Ventures and Human Capital.

What will Cenoa offer for financial solutions in the future?

Stay tuned — Cenoa is working on expanding beyond what we shared above.