diff --git a/cadence/transactions/evm/create_new_account_with_coa.cdc b/cadence/transactions/evm/create_new_account_with_coa.cdc
new file mode 100644
index 00000000..65f31685
--- /dev/null
+++ b/cadence/transactions/evm/create_new_account_with_coa.cdc
@@ -0,0 +1,60 @@
+import Crypto
+
+import "EVM"
+
+/// Creates a new Flow Address with a single full-weight key and its EVM account, which is
+/// a Cadence Owned Account (COA) stored in the account's storage.
+///
+transaction(
+    key: String,  // key to be used for the account
+    signatureAlgorithm: UInt8, // signature algorithm to be used for the account
+    hashAlgorithm: UInt8, // hash algorithm to be used for the account
+) {
+    let auth: auth(BorrowValue) &Account
+
+    prepare(signer: auth(BorrowValue) &Account) {
+        pre {
+            signatureAlgorithm == 1 || signatureAlgorithm == 2:
+                "Cannot add Key: Must provide a signature algorithm raw value that corresponds to "
+                .concat("one of the available signature algorithms for Flow keys.")
+                .concat("You provided ").concat(signatureAlgorithm.toString())
+                .concat(" but the options are either 1 (ECDSA_P256), 2 (ECDSA_secp256k1).")
+            hashAlgorithm == 1 || hashAlgorithm == 3:
+                "Cannot add Key: Must provide a hash algorithm raw value that corresponds to "
+                .concat("one of of the available hash algorithms for Flow keys.")
+                .concat("You provided ").concat(hashAlgorithm.toString())
+                .concat(" but the options are 1 (SHA2_256), 3 (SHA3_256).")
+        }
+
+        self.auth = signer
+    }
+
+    execute {
+        // Create a new public key
+        let publicKey = PublicKey(
+            publicKey: key.decodeHex(),
+            signatureAlgorithm: SignatureAlgorithm(rawValue: signatureAlgorithm)!
+        )
+
+        // Create a new account
+        let account = Account(payer: self.auth)
+
+        // Add the public key to the account
+        account.keys.add(
+            publicKey: publicKey,
+            hashAlgorithm: HashAlgorithm(rawValue: hashAlgorithm)!,
+            weight: 1000.0
+        )
+
+        // Create a new COA
+        let coa <- EVM.createCadenceOwnedAccount()
+
+        // Save the COA to the new account
+        let storagePath = StoragePath(identifier: "evm")!
+        let publicPath = PublicPath(identifier: "evm")!
+        account.storage.save<@EVM.CadenceOwnedAccount>(<-coa, to: storagePath)
+        let addressableCap = account.capabilities.storage.issue<&EVM.CadenceOwnedAccount>(storagePath)
+        account.capabilities.unpublish(publicPath)
+        account.capabilities.publish(addressableCap, at: publicPath)
+    }
+}