Coba is a Fintech (financial technology) company. This means that we don’t have any banking license, but rather, we partnered with Bangor Savings Bank, FDIC Member. This helps us to offer banking products and services, and secure up to $250,000 USD(*) per depositor.

A Digital Wallet won’t have the same flexibility and security that the banking system can offer.

* Coba is a financial technology company, not an FDIC insured depository institution. Banking services provided by Bangor Savings Bank, Member FDIC. FDIC insurance coverage protects against the failure of an FDIC insured depository institution. Pass-through FDIC insurance coverage is subject to certain conditions.