BOVEUR operating framework

From approved EURC deposit to redemption.

1. Onboard and approve

AYOV records the institution, authority and controlled wallet in the eligibility registry before a controlled vault route is used.

2. Fund the eligible wallet

An approved primary issuer, custodian or liquidity provider delivers EURC to the eligible wallet. The underlying asset remains visible on Ethereum.

3. Deposit and issue

The eligible wallet deposits EURC into the verified BOVEUR ERC-4626 vault. The vault issues the matching BOVEUR shares in the same Ethereum transaction.

4. Redeem and settle

The eligible holder redeems BOVEUR shares for EURC from the vault. Any bank-cash payment follows only under a separate accepted settlement instruction and is recorded with a non-sensitive reference.

5. Reconcile

AYOV reconciles wallet eligibility, EURC vault assets, BOVEUR share supply and completed settlement cases. Return to the BOVEUR public verification page.