We provide everything you need to integrate our digital euro into your business. The integration is hassle-free thanks to our dedicated onboarding team, sample apps, and well-documented APIs.
For new users to onboard and start using the EURD, Quantoz Payments published a mobile EURD wallet app (on Android and iOS). This app provides a secure EURD wallet to fund, hold, redeem, receive and pay with EURD. The wallet provides by default an “internal” blockchain account, where the key is managed by Quantoz Payments (additional self-managed accounts can be added optionally). The user does not need to know anything about blockchain and does not need to own any cryptocurrency as Quantoz takes care of blockchain fees.
To secure the wallet the user has a username (email address) and a password, and the mobile device is whitelisted by Quantoz Payments. The user can clone the wallet to other devices by use of a one-time passcode. The wallet can be funded with EURD by making a euro bank transfer with the account code as description to the Quantoz Foundation. The user can convert the EURD back to euros on their bank account by creating a redemption/payout transaction in the wallet app.
The purpose of the Quantoz Payments mobile wallet app is to provide a simple EURD wallet for consumers and to enable professional users to securely create API keys and add self-managed blockchain accounts (where the private keys are managed by the users themselves).
In the mobile wallet app the API keys are managed that professional or business users can apply to integrate and automate payment requests for online payments, accepting payments and redemption/payout of EURD. Larger organizations can also automate the creation and management of self-managed blockchain accounts and creation of financial reports.
The API cannot be used to create direct EURD payments from a consumer’s internal account (where the key is managed by Quantoz Payments) to accounts of other EURD users. This is because of regulatory requirements on consumer protection and multi-factor authentication of such payments by the regulator. Business customers can use the API to automate any direct EURD payments.
A test key-pair, and test customer and account codes are available for testing purposes.
To simplify integration of accepting EURD in web-shops or other online payment applications, Quantoz will provide an SDK. This can be used to add EURD as payment method to existing web-shops, online games or (mobile) apps.
Professional users, both consumers and businesses, can add and whitelist self-managed Algorand blockchain accounts (where users manage the private key of the accounts themselves). With self-managed accounts the EURD users have full control, but also full responsibility on keeping the private key of their account secure. Quantoz Payments cannot be responsible for loss of keys of self-managed accounts. Recovery of “lost” EURD funds is possible, but Quantoz Payments will charge a fee for such procedure. As Quantoz Payments cannot sign the blockchain transactions for self-managed accounts, the users also have to provide the Algo blockchain transaction fee themselves for these accounts.
By using self-managed EURD accounts it is possible to use existing third party applications or even build new ones that unlock all possible features of the Algorand blockchain for EURD. Like DeFi solutions or OTC transactions with atomic delivery vs payments of tokenized financial assets.
It is assumed the users have a third party Algo wallet app (like the Pera wallet) or build their own application on Algorand. To add and whitelist a self-managed EURD account, the user follows the following steps:
1. On the Algo account in their third party app the user performs an opt-in transaction on the EURD token (allowing their Algo account to hold EURD).
2. In the Quantoz Payments app the user starts the “add self-managed account” page, and provides the Algorand address of the account that has the EURD opt-in. Then the app will check this opt-in and show an OTP code (valid for 30 seconds).
3. In the third party app the user creates a “self-transfer” of 1 Algo from the provided Algorand address to the same address, with the OTP code as Note field.
4. Quantoz Payments will notice this transaction and if it has the correct OTP code, this new address will be whitelisted by Quantoz Payments and unfrozen for EURD. In the Quantoz Payments app the new “self-managed” account is shown.
The whitelisting actions of step 2 and 3 can also be automated with the Quantoz Payments API. From the Quantoz Payments app it is also possible to un-whitelist self-managed accounts, but only if the account does not hold any EURD.