COPco & Rewards

Hold COPco balance and earn daily rewards backed by Cobre's investment activity

COPco is Cobre's COP-denominated Cobre Balance, currently in its closed-loop phase. It lets businesses hold pesos in a Cobre Balance and earn a daily reward generated from Cobre's own investment activity, while still being able to move funds in and out using their COP fiat balance. This feature is enabled via API and Portal.

1. What Cobre Enables with COPco & Rewards

With COPco, Cobre enables businesses to:

Hold a COP-denominated balance (COPco) as a Cobre Balance

Earn a daily reward on the COPco balance, automatically and without manual enrollment steps beyond activation

Convert between COP fiat and COPco on demand (on-ramp / off-ramp)

Track reward payments as a distinct, identifiable transaction type

Operate COPco using the same conceptual primitives as other Cobre flows:

Cobre Balances

Money Movements

Transactions

2. COPco & Rewards in the Cobre Model

This capability fits into Cobre's ecosystem as a reward-generating COP balance:

Cobre Balance (COPco) is the balance that holds COP-denominated value and accrues rewards

Cobre Balance (Colombia, COP) is the fiat counterpart used to fund and withdraw from the COPco balance

Money Movements represent on-ramp and off-ramp conversions between the two balances

Transactions reflect both the conversions and the daily reward credits on the COPco balance

COPco is the tokenization of an internal Cobre ledger, not a stablecoin — it does not move on-chain between clients, and it does not support external wallets or on-chain payins/payouts. This document covers the closed-loop phase only.

3. Key Capabilities / Options

3.1 Holding COPco (Closed Loop)

The only way to hold COPco is through a Cobre Balance of type COPco. Supported operations:

Hold COPco balance and earn daily rewards

Convert COP fiat to COPco (on-ramp) and back (off-ramp)

Transfer COPco between the client's own Cobre Balances

Convert between COPco and usd_stable (FX Spot)

Not supported in the closed-loop phase: self-custodian wallets on COPco balances, on-chain payins/payouts in COPco, and transfers of COPco between different clients.

3.2 Daily Rewards

Rewards accrue automatically once a COPco balance is enrolled, based on the balance held. The calculation uses a snapshot of the balance from the last business day, and the resulting credit shows up as a distinct transaction type on the balance.

For non-business days, the reference balance used for the calculation is the lower of that day's balance and the prior business day's balance — this avoids crediting rewards on funds a client withdrew over a weekend or holiday before the calculation runs.

In rare occasions the reward can be 0, but it will never be negative.

4. Core Concepts and Terminology

COPco: Cobre's COP-denominated Cobre Balance, currently in a closed-loop phase — not a stablecoin

Closed Loop: The current phase where COPco lives only within Cobre Balances, without external circulation, wallets, or on-chain payins/payouts

Reward: The daily credit applied on a COPco balance, sourced from a share of Cobre's investment return — not a fixed yield or interest rate

Entitled balance: The balance snapshot used to calculate a given day's reward credit

Mint / Burn: The on-chain issuance or destruction of COPco that backs each on-ramp or off-ramp conversion

5. Speed, Settlement & Reliability

Rewards are calculated and credited daily, including for non-business days, using the entitled balance rules described above. On-ramp is instant and free. Off-ramp is either standard (subject to settlement windows, free) or instant (real time, with an associated cost) — see Stablecoin Funding for details on that flow.

6. Typical Business Use Cases

Colombian businesses that want to hold COP-denominated reserves while earning rewards, instead of leaving idle balance in a non-reward-generating account

Treasury teams looking to generate a return on operating float held between payment cycles

Businesses gradually shifting COP liquidity into a reward-generating balance while retaining full on-demand convertibility back to fiat

This capability fits best when a business wants to earn a return on COP balances it would otherwise hold idle, without giving up the ability to convert back to fiat whenever needed.

7. Transactions, Reporting & Reconciliation

Each daily reward payment is recorded as a distinct, identifiable transaction on the COPco balance

The transaction includes the entitled balance used for the calculation and its reference date, so finance teams can independently verify the computation

On-ramp and off-ramp conversions generate their own transactions, separate from rewards, so funding activity and reward accrual can be reconciled independently

8. Governance, Controls & Auditability

Reward enrollment and the shared percentage are controlled per client, giving Cobre and the client visibility at any given time

Every reward credit is idempotent per balance and date, so retries or reprocessing cannot result in duplicate payments

The closed-loop design itself is a control: COPco cannot leave a client's Cobre Balances on-chain in this phase, limiting exposure to on-chain risk while still generating a reward

9. Summary — What Cobre Delivers with COPco & Rewards

Cobre enables businesses to:

Hold a COP-denominated Cobre Balance (COPco)
Earn daily rewards automatically, based on a transparent entitled-balance calculation
Convert freely between COP fiat and COPco on demand
Track rewards as a distinct, auditable transaction type
Rely on a closed-loop design that limits on-chain exposure while still generating a return

COPco gives Colombian businesses a way to earn a return on COP balances they would otherwise hold idle, with the controls and predictability expected from a payments platform.

COPco & Rewards

Hold COPco balance and earn daily rewards backed by Cobre's investment activity#

1. What Cobre Enables with COPco & Rewards#

2. COPco & Rewards in the Cobre Model#

3. Key Capabilities / Options#

3.1 Holding COPco (Closed Loop)#

3.2 Daily Rewards#

4. Core Concepts and Terminology#

5. Speed, Settlement & Reliability#

6. Typical Business Use Cases#

7. Transactions, Reporting & Reconciliation#

8. Governance, Controls & Auditability#

9. Summary — What Cobre Delivers with COPco & Rewards#

Hold COPco balance and earn daily rewards backed by Cobre's investment activity

1. What Cobre Enables with COPco & Rewards

2. COPco & Rewards in the Cobre Model

3. Key Capabilities / Options

3.1 Holding COPco (Closed Loop)

3.2 Daily Rewards

4. Core Concepts and Terminology

5. Speed, Settlement & Reliability

6. Typical Business Use Cases

7. Transactions, Reporting & Reconciliation

8. Governance, Controls & Auditability

9. Summary — What Cobre Delivers with COPco & Rewards