Risks
Last updated [Date of publication]
Mintoo is built so that only you control your money. That also means some things work differently from a bank account. Please read this before you add money.
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EURC is an e-money token, not a bank deposit
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.
Under the EU's Markets in Crypto-Assets Regulation (MiCA), Circle must hold reserves for EURC and redeem it at face value. If Circle failed, getting your money back would depend on those reserves and on insolvency proceedings, and could take time.
Payments are final
A payment can't be reversed or charged back once it's approved. Mintoo can't cancel it for you. Check the name and amount before you approve.
Sending to the wrong person
If you pay the wrong friend, only they can send the money back. If you send to an outside wallet address, double-check it: money sent to a wrong or unsupported address is usually lost.
Losing your phone or your sign-in
Your wallet is tied to your sign-in (email, Apple or Google), not to one phone. If you lose your phone, sign in on a new device. If you lose access to your email or Apple or Google account, you may lose access to your wallet. Keep your sign-in secure. Settings › Recovery explains your options.
From €500, payments also need Face ID or your fingerprint, so someone with your unlocked phone can't send large amounts.
Scams
Mintoo will never ask for your sign-in code, and never ask you to send money to “verify” or “unlock” your account. Only pay people you know. If someone pressures you to pay quickly, stop and check with them another way.
EURC could trade below one euro
EURC is designed to be worth one euro. In market stress, the price of a stablecoin on exchanges can move away from its target for a while. This is called a depeg. Your right to redeem with the issuer at face value stays.
The issuer can freeze tokens
Like other regulated stablecoins, EURC can be frozen by Circle at a specific wallet address, for example on a court or regulator's order. Mintoo has no such power.
Network and service outages
Payments rely on the Solana network and on our partners. If the network or a partner is down, payments may be delayed. Your balance stays in your wallet during an outage.
Rules can change
Laws for stablecoins and wallets are still developing. New rules could change which features we can offer, where, or under which conditions. We'll tell you in advance when a change affects you.
Taxes
You are responsible for any taxes on your payments. Mintoo doesn't give tax, legal or financial advice.