Tria's Impressive $20 Million Beta Launch: A New Era for Self-Custodial Neobanking

In just three months, Tria, a self-custodial neobank established on BestPath AVS, has facilitated $20 million in on-chain transaction volume, significantly outpacing early competitors by a factor of 13. With over 50,000 users and the ability to make seamless cross-chain payments, CEO Vijit Katta explains how Tria is revolutionizing digital asset banking and setting the stage for a user-centric financial future.

Key Takeaways

Tria processed $20 million in on-chain volume during a closed beta, which is 13 times more than its closest competitor, EtherFi.
The simplicity of use and broad asset support are major drivers behind Tria's rapid adoption.
Tria allows users to manage their assets without facing traditional barriers, making on-chain assets more accessible for real-world purchases.
The platform’s design prioritizes user experience and control, positioning self-custody as a practical alternative to traditional banking.
Tria's recent funding round attracted significant interest, indicating a strong market shift towards utility in on-chain finance.

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

Tria's Remarkable On-Chain Volume Growth

What Factors Contributed to Tria's $20 Million Beta Success?

Katta: The key factors were simplicity and versatility. Many existing crypto cards often lead users into limited spending routes or complicated account setups that hinder everyday usage. In contrast, Tria is designed for daily transactions on a large scale, allowing users to top up using more than 1,000 assets while retaining complete self-custody. Users can utilize their cards in over 150 countries where Visa and Mastercard are accepted, functioning like a traditional global bank card instead of a crypto workaround.

Vijit Katta, co-founder and CEO of Tria

Insights on Reaching First Million Daily Spend

Katta: Achieving our first $1 million in daily spending on November 19 was the result of both organic growth and strategic activation efforts. As more users adopted Tria as their primary card, usage naturally increased. We also initiated targeted campaigns, such as the Tria Treasure during the holiday shopping season, where users could qualify for a daily purchase refund. This initiative effectively boosted both user activity and retention.

Why Now for On-Chain Assets?

Katta: Consumer readiness for using on-chain assets for everyday purchases has finally aligned with a seamless experience. Users no longer want to deal with complex processes like bridging, gas fees, or switching between chains just to make a purchase. Tria simplifies this; users can easily top up and spend, while BestPath takes care of cross-chain actions behind the scenes. By eliminating operational hurdles, on-chain assets evolve from mere collectibles to practical financial tools, especially with lower fees compared to traditional cards.

Challenges in Cross-Chain Execution

Katta: The most significant challenge was ensuring payment-grade reliability while managing intricate cross-chain executions. Transforming a simple user action into a smooth, bridge-free payment across different blockchain ecosystems requires not just technical innovation, but also economic and security considerations. Each blockchain functions uniquely, with varying finality times, fee structures, liquidity issues, and error scenarios. Our approach was to create a self-custodial system that thrives in such complexity, utilizing BestPath to optimize transaction routes and create a competitive marketplace of solutions.

Making Self-Custody Feel Safe and Familiar

Simplifying Self-Custodial Banking

Katta: We designed Tria to have the appearance and functionality of a modern banking app, rather than a Web3 product. The crucial distinction is user control; individuals hold their keys, can move assets whenever needed, and are not confined to a single platform. Tria serves as the interface for practical self-custody, enabling users to spend, earn, and trade while retaining ownership and decision-making authority.

User Engagement and Product Adoption

Understanding User Behavior for Engagement

Katta: Many users have long desired real-world utility for their on-chain assets, but previous solutions were often too cumbersome or custodial. When provided with a genuinely user-friendly, transparent, and empowering product, users not only try it but fully adopt it. Our ambassadors aren’t just excited due to hype; they engage actively because Tria facilitates daily routines and offers experiences worth sharing.

Response to Oversubscription in Funding Round

Katta: The overwhelming interest in our recent funding round indicates a market pivot toward utility-focused solutions. While stablecoins have shown product-market fit, both users and investors seek more comprehensive financial products that allow self-custodial exposure to assets while providing a range of spending, trading, and earning options in a single place.

What Sets Tria Apart from Other Crypto Solutions

Tria as a Pioneering Financial Operating System

Katta: Tria distinguishes itself by being a fully self-custodial execution layer, rather than simply a crypto card that is an add-on to a wallet. It’s designed from the ground up to enable real-world spending power with on-chain assets. Unlike other solutions that necessitate bridging or custodial control, Tria's BestPath background technology automatically manages cross-chain transactions without burdening users with gas fees or friction.

Plans for Global Expansion While Ensuring User Control

Scaling Tria's Global Presence

Katta: Our strategy for scaling involves maintaining a consistent and reliable product while tailoring our services to meet the demands of each market. Consumer habits and regulatory environments can differ significantly, yet the fundamental need remains: users desire global access while retaining control. We are committed to expanding into new countries while upholding our self-custodial principles and high user experience standards. Excitingly, we are set to launch in Argentina, the UK, and Nigeria this week.

Envisioning the Future of Consumer Finance

Mainstream Acceptance for On-Chain Banking

Katta: Our early growth suggests that on-chain banking may soon become a prominent category in everyday finance. This shift indicates that financial experiences will be more open, programmable, and cost-effective. On-chain mechanisms can minimize friction and expenses, broaden access to global markets, and increase direct ownership for users. In the coming five years, we believe Tria will emerge as the principal on-chain consumer finance platform accessible to everyone, not just those familiar with crypto.