Account
An account represents the concept of a digital wallet. It can optionally be created with a digital wallet's public key (address), enabling on-chain token exchange functionality.
A customer can have multiple accounts linked to them, and each account can, in turn, be linked to multiple tokens.
NOTE
Under MiCAR regulations, Nexus cannot control the private keys of accounts holding tokens on behalf of our client or their customers. For this reason, when you create an account in Nexus, only the public key needs to be provided. Securely storing the private keys of your customers' accounts sits outside of Nexus. This also means that any transaction signatures needed specifically from your customers' accounts to carry out on-chain token operations, needs to happen outside of Nexus, as to not expose the private key of your customer to us.
Statuses
In Nexus, an account can have the following statuses:
- New: The account has been created but functionality is limited. A New account requires activation before it can be used for Token Operations.
- Active: The account is fully operational and can perform all allowed Token Operations.
- Deleted: The account has been closed and is no longer active but is preserved for auditing purposes. A Deleted account cannot be used for any Token Operations.
NOTE
The different statuses above allow for a 4-eye principle to be applied in the portal to accounts, given that your operators' permissions and roles are set up correctly.
Types
In Nexus, we have three types of accounts. The key distinction between the first two, managed and unmanaged accounts, lies with allowing full on-chain platform support via Nexus APIs for managed accounts, while only some for unmanaged accounts.
The third option is a Virtual account. Where most of the actions can be executed on, however these are not reflected on the blockchain. Optionally an address can be supplied which allows on-chain receiving of tokens.
See below the definitions for each account type, as well as a table indicating the different functionalities allowed for each.
- Managed: Checks that the supplied address is new on the blockchain. Management of the address' private key normally lies with you. Managed accounts enable full on-chain platform support via Nexus APIs. Transaction signing is done locally and then pushed to a Nexus API.
- Unmanaged: Checks that the supplied address already exists on the blockchain. Management of the address' private key normally lies with your customers in an existing wallet. Unmanaged accounts have limited on-chain platform support via Nexus APIs and cannot perform operations requiring private key signatures pushed to the NEXUS API.
- Virtual: Supports platform functionality without blockchain transactions, maintaining off-chain balances within our platform. They can be created without an address, but providing one (new on the blockchain and managed by you) enables additional functionality like receiving on-chain transactions.
| Managed | Unmanaged | Virtual | |
|---|---|---|---|
| Opt-in an account to a token on the blockchain through Nexus | ✔️ | ✔️** | |
| Register a token on an account in Nexus, which already opted-in to that token outside of Nexus | ✔️ | ✔️ | ✔️*** |
| Freeze or unfreeze an account on the blockchain through Nexus | ✔️ | ✔️ | ✔️** |
| Fundings through Nexus | ✔️ | ✔️ | ✔️* |
| Customer-to-customer payments through Nexus | ✔️ | ✔️**** | |
| Payouts through Nexus | ✔️ | ✔️* | |
| Clawbacks through Nexus | ✔️ | ✔️ | ✔️* |
| Create payments in Nexus of existing onchain payments created outside of Nexus | ✔️ | ✔️ | ✔️*** |
| Create payouts in Nexus of existing onchain payouts created outside of Nexus | ✔️ | ✔️ |
*Performed off-chain.
**Performed off-chain for accounts without an address, and on-chain if it has an address.
***Requires an address linked.
****Mostly performed off-chain and only possible for virtual-to-virtual and virtual-to-nonvirtual payments. Nonvirtual-to-virtual payments possible, but only if the virtual account has an address.
NOTE
For virtual account customer-to-customer payments executed through Nexus, as well as external payments created outside of Nexus, the operations are mostly off-chain, but note that there are for certain scenarios some behind-the-scenes on-chain operations in order to keep the token balance virtual.
For external payments created outside of Nexus, Nexus only picks up payments sent to the virtual account, and not payments sent from the virtual account.
Types per Blockchain
Only certain account types are available to be created on the blockchains available in Nexus:
| Managed | Unmanaged | Virtual | |
|---|---|---|---|
| Algorand | ✔️ | ✔️ | ✔️ |
| Stellar | ✔️ | ✔️ | ✔️ |
| Ethereum | ✔️ | ✔️* | |
| Polygon | ✔️ | ✔️* | |
| Ripple | ✔️ | ||
| Xahau | ✔️ |
*Virtual account creation is allowed, but only when no address is specified during the creation.