In this section we elaborate on how you can use the Monerium (EURe) stablecoin solution, including customer onboarding, transaction monitoring and stablecoin redemption, directly via your NYALA API integration. Before you proceed, make sure that you have already integrated with the endpoints required by the basic integration.
All Monerium related operations can only be performed via API. It is not possible to onboard an investor or perform redemptions via the NYALA Web Portal.
**Prerequisites to use EURe ** Onboarding your investors to Monerium and triggering subsequent operations such as “redemption” via NYALA are only possible if your investors have wallets that are custodied at the custodian “Tangany”.
Available actions There are three types of actions available in relation to the stablecoin feature:
- Connecting to NYALA’s webhook notifications to receive status updates (fetch IBAN, fetch balance, redemption status)
- Signing up a customer for Monerium and receiving an IBAN
- Redeeming EURe against EUR (non-blockchain-based EUR)
Tell us for which of your clients would like to request a Monerium IBAN. You can do so by sending us the internal customer ID via the approve-for-monerium endpoint. If we already have all the required KYC data, we can call the Monerium API and forward them the investor’s data and the investor’s wallet address.
ℹ️ Note: Only send us a Monerium IBAN request after you have sent us the complete KYC data of your investor and if a wallet already exists for the investor. If one of the two items is missing, the Monerium IBAN creation will fail.
Upon receipt of the request, Monerium will perform an auto-check and link the IBAN with a Monerium profile and with the wallet of the investor.
POST /api/external/v1/customers/{customer-id}/approve-for-monerium
| Parameter | Description | Example |
|---|---|---|
| customerID | Required: The customerID of the investor. | 5f32a959-fe41-480c-b4db-c0e702e56154 |
| Project passphrase | Required: The passphrase provides a layer of security when triggering blockchain operations. It is required for further token operations. It must be min 10 character and contain at least one uppercase and one lowercase letter. You must safeguard it and not lose it, although it can be recovered by asking a TSE. | Passphraseprojectxyz |
The IBAN of the investor will be proactively returned to you via the NYALA Webhook.
You should then display the Monerium IBAN via your customer-facing interface to the investor. We advise that you create a short explanatory text for your users so that they understand that they now must perform a traditional bank transfer to the Monerium IBAN in order to receive on-chain EURe.
As soon as a bank transfer is successfully received and processed on the Monerium IBAN, EURe will directly be minted into the investor’s wallet. This will be happening instantaneously.
In unlikely cases it may be possible that Monerium require more data on the investor, in these cases your TSE will proactively reach out to you and request the additional documentation.
Legal persons also immediately receive an IBAN after calling our endpoint. You will receive the IBAN for legal persons via the NYALA webhook.
It is possible that Monerium may require more data on the entity, in these cases, your TSE will proactively reach out to you and request the additional documentation.
Error handling:
There are two possible error messages that you may face when you are onboarding investors at Monerium.
The first one is that your request was not received by NYALA. In this case you will receive the error message “Onboarding request failed. Please retry. If the error persists, contact NYALA.
The second possible error message will be received if the onboarding at Monerium itself failed. In this case you will receive the error message: Onboarding at Monerium failed. Please retry. If the error persists, contact NYALA.
NYALA does not cache your calls, meaning that you can and should call the endpoint again. If the error persists, contact NYALA so that we can look into the issue.
This process describes the exchange of blockchain-based EURe tokens against bank-based EUR. It is an action that is requested by the investor that want’s to off-ramp / cash out. It requires the on-chain burning of EURe.
Upon calling the monerium-redeem, a transaction will be signed on behalf of your investor and a request to Monerium is sent, to claw back EURe from an investor’s wallet, sending the tokens to a burning address and send the equivalent EUR amount as a bank transfer to the indicated IBAN.
ℹ️ Note: You may send us your investors reference IBAN for the redemption request.
POST /api/external/v1/customers/{customer-id}/monerium-redeem
| Parameter | Description | Example |
|---|---|---|
| customerID | Required: The customerID of the investor. | 5f32a959-fe41-480c-b4db-c0e702e56154 |
| Amount | Required: The amount of EUR that shall be transferred. | 300 |
| IBAN | Required: The destination IBAN to which EUR shall be transferred (This can be the customer’s reference account IBAN). | DE1245111201 |
The redemption state will be proactively returned to you via NYALA’s webhook.
The possible redemption states that you can receive are:
| State | Description |
|---|---|
| Placed | The order has been created but not yet processed. |
| Pending | The order is awaiting fulfillment (e.g., review, minting/burning tokens, or sending/receiving SEPA payment). |
| Processed | The order has been completed successfully. |
| Rejected | The order was rejected, possibly due to compliance reasons or insufficient funds. |
It is expected that a placed order is processed instantaneously.
Error handling: A possible error messages that you may face is that your request was not received by NYALA. In this case you will receive the error message “Order request was not received. Try again. If the error persists, contact NYALA.”
NYALA does not cache your calls, meaning that you can and should call the endpoint again. If the error persists, contact NYALA so that we can look into the issue.