How Mintoo works
Last updated [Date of publication]
Mintoo is an app for sending and requesting euros with people you know, inside a chat. This page explains where your money is, who does what, and the rules that apply.
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Mintoo is in a closed beta. Balances are test money on a test network. They have no value and can't be cashed out.
Where your money is
Your balance is EURC, a euro stablecoin (an e-money token) issued by Circle Internet Financial Europe SAS, authorised in France. It's held in your own wallet; Mintoo never holds your money. EURC isn't a bank deposit and isn't covered by deposit insurance.
Your wallet is created when you sign up. Only you can approve payments from it. Mintoo can't move, freeze or recover the money in it, and we never see your private key.
Who does what
- Mintoo
- The app: chats, friends, payment requests and the screens where you approve a payment. Mintoo never holds your money.
- Privy
- Wallet technology. Creates your wallet and secures its key so that only you can use it.
- Verification and payments partner
- Coming soon: a licensed partner that will verify your identity and turn a bank transfer (SEPA) into EURC in your wallet.
- Circle
- Circle Internet Financial Europe SAS issues EURC. Holders can redeem EURC with Circle for euros at face value.
- Solana
- The public network that records payments. A payment settles in seconds.
Sending and requesting
- Add a friend with their invite link.
- In the chat, choose Send or Request and enter an amount.
- Check the name and amount, then approve the payment on your device. From €500, we also ask for Face ID or your fingerprint.
- The payment arrives in seconds. It can't be reversed, so check before you approve.
Adding money
Adding money by bank transfer and identity verification are coming soon. They'll be provided by a licensed verification and payments partner, which we'll name here before they start.
Until then, your balance comes from payments friends send you. When it starts, you'll send a bank transfer (SEPA) from an account in your name and receive the same amount in EURC in your wallet, minus any fee, which is shown before you confirm.
Cashing out to your bank account is planned. It isn't available yet.
Identity checks
You can send small amounts without verifying. Identity verification is coming soon. It will be carried out by a licensed verification and payments partner under its own terms, and it will unlock adding money and higher limits. Mintoo will only receive the result.
Limits
Limits protect you and help prevent fraud. Receiving money is never limited.
| Not verified | Verified (soon) | |
|---|---|---|
| Per payment | €150 | €10,000 |
| Per 30 days | €1,000 | €15,000 |
| Add money by bank transfer | No | Soon |
Higher limits are available after identity verification, once offered.
The 30-day limit counts what you sent in the last 30 days, so it frees up day by day.
Checks we run
To prevent fraud and money laundering, we look for unusual patterns, such as many payments in a short time. If we see one, we may ask you to verify your identity before you can send again. Mintoo isn't available in sanctioned countries. See Countries and Acceptable use.