Tria's $20 Million Beta Surge: Revolutionizing Onchain Finance with a Self-Custodial Neobank

In just three months, Tria, a self-custodial neobank built on BestPath AVS, has achieved $20 million in onchain volume, exceeding early rivals by 13 times.

Key Takeaways

Tria has processed $20 million in onchain volume during its closed beta.
The platform's simplicity and accessibility are key drivers for adoption.
Users appreciate being able to manage their assets without the complexity typically associated with cryptocurrency.
Tria aims to differentiate itself from other crypto cards by providing a fully self-custodial experience.
The neobank plans to expand globally, keeping user control central to its offerings.

Tria's $20 million beta surge: How a self-custodial neobank is redefining onchain finance - 1

With over 50,000 users and smooth cross-chain payment options, CEO Vijit Katta discusses how Tria is transforming digital asset banking and creating a user-focused financial future.

Tria's Impressive Onchain Volume in Beta

Tria recorded $20 million in onchain volume during its closed beta, outperforming competitors like EtherFi’s card by a significant margin. What factors are contributing to such remarkable adoption?

Katta: The primary factors are simplicity and versatility. Unlike many crypto cards that impose limited spending options or complicated account structures, Tria is designed for everyday use at scale. Users can top up their accounts with over 1,000 assets and enjoy services in more than 150 countries wherever Visa or Mastercard are accepted—offering a genuine banking experience.

Milestone of First $1 Million Daily Spend

Tria marked its first $1 million in daily spending on November 19. Was this milestone achieved through natural user growth, or did a specific event catalyze this surge?

Katta: It was a blend of organic growth and targeted initiatives. User engagement was already increasing as more people adopted Tria as their daily card. We also implemented focused campaigns for cardholders, such as Tria Treasure during the holiday season, which rewarded daily purchases by refunding one transaction. This incentivized activity and improved user retention.

Why Are Consumers Ready for Onchain Assets?

What has changed that makes consumers willing to use onchain assets for everyday purchases?

Katta: The experience has finally become acceptable. Users no longer want to manage complex processes like bridges, gas fees, or chain switches just to buy something. With Tria, users can easily top up and spend, while BestPath handles all the cross-chain technicalities seamlessly. When obstacles are removed, users start to view onchain assets as usable currency rather than just digital holdings. Moreover, the lower fees compared to traditional cards make this choice even more appealing.

Challenges of Building Seamless Cross-Chain Execution

Creating a system that enables automatic cross-chain execution without fees or user experience hurdles is complex. What was the toughest challenge in making this happen?

Katta: The biggest challenge lay in achieving payment-grade reliability while managing intricate cross-chain transactions efficiently. Transforming a user action into a smooth, gasless experience across varying ecosystems is not just a technical issue—it’s a matter of economic security and coordination. Each blockchain has unique characteristics like finality times, fee structures, and potential failure points. Abstracting these complexities while maintaining self-custody proved incredibly challenging. Most systems fail under multi-chain pressures, but Tria thrives in this environment through advanced algorithms and pre-calculated optimal routes, allowing users to interact without the traditional burdens of gas or bridging.

Making Self-Custody User-Friendly

Self-custody can seem daunting to many. How does Tria simplify self-custodial banking to resemble a traditional bank experience?

Katta: We designed Tria to function like a modern banking app first instead of a typical Web3 product. The primary distinction is that users maintain full control over their assets. They hold their keys, have the flexibility to transfer their assets at any time, and are not tied to one platform. Tria serves as an intuitive interface that enables self-custody, allowing users to manage their spending, earning, and trading seamlessly while retaining ownership.

High Engagement from Users and Ambassadors

Tria currently boasts over 50,000 active users and 5,000 ambassadors, which is remarkable for a product in its early stages. What insights have you gathered regarding user engagement?

Katta: Consumers have long sought practical everyday uses for onchain assets, but existing solutions were either cumbersome or overly custodial. By offering something simple, transparent, and user-controlled, Tria fosters genuine engagement. Our ambassadors are not just attracted to the latest trend; they are involved because the product integrates seamlessly into their daily lives and provides value worth sharing. They promote Tria because they comprehend our larger vision and recognize that this is merely the beginning.

Vijit Katta, co-founder and CEO of Tria

High Demand for Onchain Finance

In your latest funding round, Tria secured $66.7 million in commitments out of a modest $1 million allocation, with over 4,500 applicants. What does this substantial interest indicate about the future of onchain finance?

Katta: This high demand signals a shift in the market towards utility. While stablecoins have demonstrated their relevance, users and investors are seeking more than just stablecoin wallets. They desire a comprehensive financial product that allows them to retain exposure, remain self-custodial, and transact within one platform. This illustrates how ready the market is for functional onchain finance solutions.

Comparing Tria to Other Crypto Cards

What distinguishes Tria from existing crypto cards and neobanks, including Coinbase Card, Wirex, and EtherFi?

Katta: Tria is not merely another crypto card; it serves as a fully self-custodial execution platform. Unlike other services that may require bridging assets, swapping currencies, or sacrificing custody, Tria's BestPath negates these challenges by routing cross-chain transactions in the background. Users can pay with a simple tap, avoiding gas fees and retaining complete control.

What truly sets Tria apart is its foundational infrastructure. We have built a robust and scalable system that underpins everything from payments to trading and lending, making Tria unique. This self-custodial financial operating system is built on infrastructure that no other crypto card or neobank currently possesses.

Plans for Global Scaling

How does Tria plan to expand internationally while ensuring users retain full control of their assets?

Katta: Our scaling strategy involves maintaining product consistency and reliability while customizing the platform for local markets. Spending habits and regulations differ globally, but the fundamental demand for accessible control is universal. We intend to grow country by country as swiftly as possible while upholding our self-custodial promises and user experience standards. In fact, we are expanding into three new countries this week: Argentina, the UK, and Nigeria.

Future of Consumer Finance

Given Tria’s early success, what does this indicate for the future landscape of consumer finance in the next five years?

Katta: This suggests that the default financial experience will increasingly become open, programmable, and cost-effective. Onchain technology can reduce barriers and fees, broaden access to yields and global markets, and grant users greater agency over their finances. Over the next several years, we believe Tria will emerge as the leading platform for onchain consumer finance, allowing anyone, not just crypto enthusiasts, to save, trade, spend, and borrow effectively.