Product Keynote: CopperX (Tarun Mangukiya)

A founder who started as a freelancer in a small Indian city is now building the solution he wished existed – a global bank that removes borders for money the same way WhatsApp removed borders for communication. At Breakpoint 2025, Tarun Mangukiya unveiled Coach by CopperX, a stablecoin-powered banking platform built on Solana that's already changing lives for freelancers in emerging markets.

Summary

Tarun Mangukiya, founder of CopperX, presented his company's flagship product Coach at Breakpoint 2025, drawing from his personal experience as a freelancer and entrepreneur who built Icon Scout, a design community serving over 30,000 designers and millions of users globally. His journey through emerging markets in India, Indonesia, Vietnam, and Nigeria revealed a critical insight: while talent has become truly global in the internet age, financial systems have not kept pace.

The problems freelancers face are substantial and often invisible to those in developed economies. Payments routinely get delayed for weeks, fees consume significant portions of hard-earned income, and basic business operations become impossible when payment cards decline on essential services like AWS. Mangukiya shared a testimonial from a freelancer who found that Coach removed "a lot of useful stress" by providing faster payments and significantly lower fees.

Coach addresses these pain points by leveraging Solana's blockchain infrastructure and stablecoins to create what the company calls "a global bank for freelancers and small businesses." The platform enables users to obtain US bank account details within five minutes, regardless of their location, allowing them to receive payments from global clients as seamlessly as any US-based business. This represents a fundamental shift in how cross-border payments can work for the underbanked population worldwide.

Key Points

The Global Talent vs. Financial Access Problem

The core thesis behind CopperX's Coach product stems from a fundamental disconnect in the modern economy. While the internet has democratized access to work opportunities, financial infrastructure remains fragmented and exclusionary. Freelancers in emerging markets like India, Indonesia, Vietnam, and Nigeria possess the same skills and deliver the same quality of work as their counterparts in developed nations, yet face dramatically different financial realities.

Traditional finance was never designed for the internet-native economy. Banking systems were built around physical presence, national borders, and legacy processes that create friction at every international touchpoint. This means talented professionals lose clients not because of their work quality, but because they simply cannot receive payments efficiently or access the tools they need to deliver their services.

Coach's Banking Infrastructure

Coach fundamentally reimagines banking for the global workforce by providing US bank account access to anyone, regardless of geography. Within just five minutes of signup, freelancers and small businesses receive account details they can share with international clients. This removes one of the most significant barriers to global commerce – the ability to receive money like a local entity.

The platform's value extends beyond just receiving payments. By utilizing stablecoin-powered cards, Coach enables users to instantly pay for global tools and services that were previously blocked due to capital controls in their home countries. This solves the practical problem Mangukiya highlighted in his presentation – the inability to pay for critical services like AWS that can derail entire projects and client relationships.

Solana-Powered Financial Innovation

CopperX has built Coach specifically leveraging Solana's capabilities and stablecoin technology to deliver on its promises of speed and low cost. The choice of Solana as the underlying infrastructure enables the near-instant transaction finality and minimal fees that make the service viable for small transactions – critical when serving freelancers who may be receiving relatively modest payments.

A particularly innovative feature announced at Breakpoint is the "pay later mode" designed specifically for Solana ecosystem participants. Users can deposit their SOL holdings as collateral and continue spending, deciding when to pay back – whether immediately or at a later date. This provides a form of crypto-backed credit that doesn't require selling assets, bridging the gap between holding digital assets and accessing everyday purchasing power.

Financial Inclusion as a Human Right

Mangukiya framed financial inclusion not as a nice-to-have feature but as "a fundamental human right." This philosophical foundation drives CopperX's mission and product development decisions. The company believes that earning, saving, and spending money should be accessible anywhere in the world, removing arbitrary barriers created by geographic location or citizenship.

The emotional impact of this mission was illustrated through a freelancer testimonial shared during the presentation. The user emphasized that freelancing is about more than money – it's about autonomy, choosing work, selecting clients, and pursuing meaningful projects. When financial friction is removed, freelancers can focus on what truly matters to them rather than constantly battling payment systems and banking limitations.

Facts + Figures

• Coach enables US bank account setup within 5 minutes for users anywhere in the world
• Icon Scout, Mangukiya's previous venture, built a community of over 30,000 designers serving millions of users
• CopperX serves freelancers and small businesses across emerging markets including India, Indonesia, Vietnam, and Nigeria
• The platform utilizes stablecoins and Solana blockchain for payment infrastructure
• Coach offers stablecoin-powered cards for instant global tool payments
• A "pay later" mode allows users to collateralize SOL holdings for spending
• The service promises no delays and no hidden fees for payment processing
• Traditional cross-border payments can delay freelancer payments for weeks
• Capital controls in many emerging markets prevent locals from accessing global services like AWS

Top quotes

• "Talent is global, but financial inclusivity is not."

• "Payments are often delayed for weeks. Fees are insanely high. People lose customers just because they can't receive payments."

• "Imagine not being able to deliver a project just because your card keeps declining at AWS. And this is reality for millions of businesses across the globe."

• "Financial inclusion is a fundamental human right."

• "The same way WhatsApp removed borders for communication, we are removing borders for the money."

• "For me, freelancing isn't only about money. It's about choosing how I work, who I work with, and knowing things I actually enjoy."

• "Payments came faster and the fees were much lower. It removed a lot of useful stress."

• "Traditional finance is fragmented. And it was never meant to be built for the internet dollar."

Questions Answered

What is Coach by CopperX?

Coach is a global banking platform built specifically for freelancers and small businesses, regardless of their location. It provides US bank account access, stablecoin-powered payment cards, and crypto-backed credit features, all built on Solana's blockchain infrastructure. The service aims to solve the fundamental problem of financial access for workers in emerging markets who face significant barriers to receiving international payments and accessing global services.

How quickly can someone get started with Coach?

Users can set up a US bank account within just five minutes through the Coach platform. Once registered, they receive account details that can be shared with global clients immediately. This rapid onboarding process removes one of the biggest friction points for freelancers – the lengthy and often unsuccessful process of trying to establish banking relationships that enable international payments.

What problems does Coach solve for freelancers in emerging markets?

Coach addresses several critical pain points that plague freelancers in countries like India, Indonesia, Vietnam, and Nigeria. These include payment delays that can stretch for weeks, excessive fees that eat into earnings, and the inability to pay for essential global services due to capital controls or card declines. By providing US banking infrastructure and stablecoin-powered cards, Coach enables freelancers to operate like any US-based business despite their physical location.

What is the "pay later" feature for Solana users?

CopperX has introduced a pay later mode specifically for Solana ecosystem participants. Users can deposit their SOL holdings as collateral and continue using their Coach card for purchases. The innovative aspect is the flexibility in repayment – users decide when they want to settle their balance, whether immediately or at a later date. This provides liquidity without requiring users to sell their crypto assets, effectively creating a crypto-backed line of credit.

Why did CopperX choose to build on Solana?

While not explicitly detailed in the presentation, CopperX's choice of Solana aligns with the platform's promises of fast transactions and low fees. Solana's high throughput and minimal transaction costs make it suitable for the frequent, often small-value transactions typical of freelancer payments. The integration of special features for SOL holders also demonstrates CopperX's commitment to the Solana ecosystem specifically, rather than treating it as just another blockchain option.

Who founded CopperX and what's their background?

Tarun Mangukiya founded CopperX, bringing personal experience that directly informs the product. He started his career as a freelancer from a small city in India and later built Icon Scout, a community serving over 30,000 designers and millions of users worldwide. This background across emerging markets gave him firsthand exposure to the financial challenges that talented workers face, ultimately inspiring the creation of Coach as a solution to problems he personally encountered.