# Centi and Zcash Shielded Assets - A Co-Creation Project **URL:** \ **Category:** Applications\ **Created:** [June 17, 2025, 9:03am UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493 "2025-06-17T09:03:01Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![vivek](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/vivek/32/19682_2.png) [@vivek](https://forum.zcashcommunity.com/u/vivek)\ **Post date:** [June 17, 2025, 9:03am UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/1 "2025-06-17T09:03:01Z")
Dear Zcash Community, As Zcash Shielded Assets (ZSAs) get closer to deployment, I’m excited to share with you all an exciting project from Centi that will work with ZSAs and even launch a ZSA stablecoin! I’d like to invite @BernhardCenti to tell us more about it and share the grant proposal here. We at QEDIT are excited to see this interest from Centi, and look forward to seeing this integration come to fruition! ---
**Author:** ![BernhardCenti](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/bernhardcenti/32/37980_2.png) [@BernhardCenti](https://forum.zcashcommunity.com/u/BernhardCenti)\ **Post date:** [June 17, 2025, 12:07pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/2 "2025-06-17T12:07:45Z")
@vivek many thanks for your post and please see all details in the actual proposal linked. And introduction to who we are right here and please see the full grant proposal linked at the bottom of this introduction: # Centi’s Introduction to the Zcash Community ## The Privacy Problem No One Talks About Privacy is not a luxury feature - it’s a financial necessity. Yet while billions of people desperately need financial privacy protection, most privacy solutions remain theoretical experiments disconnected from real-world payment infrastructure. **We’re here to change that.** ## Who We Are I’m Bernhard Müller, founder and CEO of Centi Ltd. My co-founder Ralf Zellweger and I built Centi specifically to solve cross-border payments where traditional banking fails people who need it most. My background is in bioengineering and compliance, Ralf brings vast payment systems experience from both acquiring and issuing sides. Here’s what makes us different: We’re the only privacy-focused payment platform operating under Swiss financial regulations - proving that privacy and compliance aren’t mutually exclusive. We’ve been doing this since 2019, processing real transactions for real people every day. ## What We Bring to Zcash - Day One Impact ### Immediate Access | Numbers | | | --- | --- | | **Active Users Ready to Use ZEC** | 25,000+ | | **Merchants Ready to Accept Zcash** | 500+ | | **Merchants Gaining Transaction Privacy** | 500+ | | **Reachable Wallets (Africa/S.America)** | 350 million | | **Proven Payment Corridors** | 20+ countries | | **Existing Stablecoin Infrastructure** | Swiss Bank Guaranteed | We’re not asking for funding to build a user base from scratch. **On day one of our integration, Zcash gains a functioning payment ecosystem with massive transaction volume.** ### The Regulatory Breakthrough Operating under Swiss financial regulations, we demonstrate daily that privacy-preserving payments work within institutional compliance requirements. This isn’t theoretical - we do it every day with existing digital currencies. **This matters because:** When other financial institutions see Zcash working under Swiss regulations (the global gold standard), adoption barriers disappear. We’re creating the regulatory template for global Zcash expansion. ## Why Zcash + ZSA Changes Everything When we discovered Zcash Shielded Assets, we realized this could be the privacy-preserving infrastructure our users have been waiting for. The Centi Franc is already a permissionless stablecoin guaranteed by Swiss Bank Guarantee. Using ZSA technology, we can make it truly private for all our users. **Commercial ZSA Validation:** We’ll implement the first large-scale commercial deployment of Zcash Shielded Assets - loyalty tokens, vouchers, and the CCHF stablecoin - proving the technology works for real businesses. ## Merchant Privacy - The Hidden Need **Critical insight:** Our 500+ merchants currently face a painful choice with stablecoins - accept digital payments but expose all transaction data, or stick with cash and lose digital convenience. With Zcash, merchants get both: Digital payment efficiency AND transaction privacy. No more forced disclosure of customer spending patterns, competitor intelligence, or sensitive business metrics. **This unlocks massive adoption:** Merchants have been waiting for privacy-preserving digital payments without realizing it. We’re giving 500+ merchants immediate access to what they actually need. ## African Market Access - Where Privacy Matters Most We’ve spent years building payment corridors into 20+ African countries, creating infrastructure that brings Zcash to populations who would benefit most from financial privacy. Our remittance network reaches 350 million wallets where traditional banking often exploits or excludes people. **Real impact:** Instant settlement versus 3-7 day traditional transfers, sub-1% fees versus 5-15% traditional fees, transaction privacy without sacrificing compliance. ## Our Commitment - Skin in the Game This isn’t a short-term project. We’re making Zcash core infrastructure at Centi because we believe privacy-preserving payments represent the future of ethical finance. Our $50,000 co-investment demonstrates our commitment, and our business model depends on this succeeding long-term. **Knowledge sharing:** Our integration patterns, compliance frameworks, and merchant tools will be available for other developers, accelerating Zcash adoption beyond our platform. ## Why Now ZSA is production-ready. We have the infrastructure. The market needs privacy. **This is the moment.** We’re not asking you to fund an experiment. We’re asking you to help us bring proven Zcash technology to proven payment infrastructure, creating immediate impact while building a model other financial institutions can follow. ## The Bottom Line We’re ready to make Zcash the privacy standard for 350+ million users across Europe and Africa. We have the regulatory standing, the infrastructure, and the user base. **Zcash deserves to be infrastructure that serves real people solving real problems.** Let’s discuss how to make this happen! * * * **Questions?** Post them as a reply here or reach us at bernhard@centi.ch - we’re excited to contribute to Zcash’s mission of bringing financial privacy to everyone who needs it. # Grant Proposal for the Zcash Community Grants > > > \### Terms and Conditions > > \- \[x\] I agree to the \[Grant Agreement\](https://9ba4718…c-5c73-47c3-a024-4fc4e5278803.usrfiles.com/ugd/9ba471\_f81ef4e4b5f040038350270590eb2e42.pdf) terms if funded > \- \[x\] I agree to \[Provide KYC information\](https://9ba4718c-5c73-47c3-a024-4fc4e5278803.usrfiles.com/ugd/9ba471\_7d9e73d16b584a61bae92282b208efc4.pdf) if funded above $50,000 USD > \- \[x\] I agree to disclose conflicts of interest > \- \[x\] I agree to adhere to the \[Code of Conduct\](https://forum.zcashcommunity.com/t/zcg-code-of-conduct/41787) and \[Communication Guidelines\](https://forum.zcashcommunity.com/t/zcg-communication-guidelines/44284) > \- \[x\] I understand all milestone deliverables will be validated and accepted by their intended users or their representatives, who will confirm that the deliverables meet the required quality, functionality, and usability for each user story. > \- \[x\] I agree to post request details on the \[Community Forum\](https://forum.zcashcommunity.com/c/grants/33) > \- \[x\] I understand it is my responsibility to post a link to this issue on the \[Zcash Community Forums\](https://forum.zcashcommunity.com/c/grants/33) after this application has been submitted so the community can give input. I understand this is required in order for ZCG to discuss and vote on this grant application. > > \### Application Owners (@Octocat, @Octocat1) > > @BernhardCenti, @krzysiekfonal > > \### Organization Name > > Centi Ltd > > \### How did you learn about Zcash Community Grants > > I learned about them from Jonathan Rouach (qed-it.com) and Jason McGee (Shielded Labs) > > \### Requested Grant Amount (USD) > > 350000 > > \### Category > > Infrastructure > > \### Project Lead > > \`\`\`project-lead.yaml > Name: Bernhard Frank Müller Hug > Role: General Manager > Background: Biology, Blockchain, Medical Diagnostics, Finance: https://www.linkedin.com/in/bernhard-m%C3%BCller-hug-6abb0992/ > Responsibilities: Project lead and administration, full responsibility for deliveries and timelines. > \`\`\` > > \### Additional Team Members > > \`\`\`team-members.yaml > \- Name: Krzysztof Fonal > Role: CTO - Centi, Implementation Lead > Background: PhD in Computer Science. Over 7 years of development and architecture experience in Web3: https://www.linkedin.com/in/krzysztoffonal/ > Responsibilities: Oversee architectural decisions ensuring optimal Zcash and ZSA integration > > \- Name: > Role: Ralf Zellweger > Background: MBA, Sales, Acquiring and Issuing: https://www.linkedin.com/in/ralf-zellweger-a26388129/ > Responsibilities: Collaborations, Partnerships, Outreach, Community, Media, Marketing, Adoption > \`\`\` > > \### Project Summary > > \*\*Executive Summary\*\* > > The Zcash ecosystem needs real-world adoption beyond speculation to fulfill its privacy-preserving mission. Centi Ltd offers the Zcash Foundation an unprecedented opportunity to integrate ZEC and Zcash Shielded Assets (ZSA) into an established, compliance-ready financial infrastructure serving 25,000+ active users and 500+ merchants across Europe and Africa. > > This integration will immediately transform Zcash from a theoretical privacy solution into a mainstream payment method, driving substantial transaction volume while demonstrating regulatory compliance in one of the world's most stringent financial jurisdictions. By partnering with Centi, the Zcash Foundation gains instant access to proven remittance corridors, merchant networks, and a user base actively seeking privacy-preserving financial solutions. > > Our commitment extends beyond integration – we will establish Zcash as the backbone of cross-border payments in underserved markets, launch the first regulatory-compliant ZSA stablecoin (CCHF), and create a replicable model for institutional Zcash adoption globally. > > \### Project Description > > This project integrates Zcash (ZEC) and Zcash Shielded Assets (ZSA) into Centi's established financial technology platform, creating the first regulatory-compliant, commercial-scale implementation of privacy-preserving payments in Europe. Over a 7-month development cycle, we will deploy a comprehensive Zcash payment ecosystem that serves real-world financial needs across consumer payments, merchant acceptance, cross-border remittances, and tokenized assets. > > \*\*Technical Implementation:\*\* We will develop a Zcash Wallet Proxy that seamlessly connects Centi's existing application infrastructure to the Zcash network, enabling 25,000+ existing users to immediately access ZEC transactions. The integration extends Centi's Direct Payment Protocol to support both ZEC and ZSA tokens, maintaining the platform's peer-to-peer transaction model while adding privacy-preserving capabilities. > > \*\*Commercial Deployment:\*\* The project transforms 500+ existing European and African merchants into ZEC-accepting businesses through enhanced point-of-sale systems, web payment integrations, and mobile payment tools. Merchants will gain the ability to issue their own ZSA tokens for loyalty programs, promotional campaigns, and voucher systems, creating a multi-token economy that demonstrates ZSA's commercial viability. > > \*\*Financial Infrastructure:\*\* We implement full exchange functionality allowing users to convert between fiat currencies, ZEC, and ZSA tokens with automated compliance reporting. Our remittance network integration enables ZEC-powered money transfers across 20+ African countries, providing instant settlement and sub-1% fees compared to traditional 5-15% remittance costs. > > \*\*Regulatory Innovation:\*\* The project culminates with the launch of CCHF, a Swiss Franc-pegged ZSA stablecoin backed by bank guarantees and full regulatory compliance. This creates the first institutional-grade bridge between traditional banking and the Zcash ecosystem, proving that privacy-preserving transactions can operate within existing financial regulations. > > \*\*Platform Integration:\*\* All Zcash functionality integrates natively into Centi's existing consumer mobile app, merchant portal, and web-based cashier systems. Users access ZEC and ZSA features through familiar interfaces without requiring blockchain expertise, while merchants manage Zcash payments through the same dashboard they use for traditional transactions. > > \*\*Deliverable Ecosystem:\*\* The completed integration provides a fully functional Zcash payment ecosystem including consumer wallets, merchant acceptance tools, tokenization platforms, exchange services, remittance capabilities, and regulatory-compliant stablecoin infrastructure. This creates immediate transaction volume while establishing a replicable model for Zcash adoption by other financial service providers. > > \### Proposed Problem > > \*\*Why This Matters for Zcash\*\* > > \*\*Immediate Ecosystem Growth\*\* > > ● 25,000+ new Zcash users from day one through existing Centi app base > ● 500+ merchants immediately accepting ZEC and ZSA tokens > ● Projected $50+ million annual transaction volume through established payment corridors > ● 20+ African countries gaining direct Zcash access through proven remittance infrastructure with direct corridors to over 500m+ African wallets > > \*\*Strategic Market Positioning\*\* > > Centi operates in the sweet spot where Zcash can thrive: cross-border payments requiring both privacy and compliance. Our Swiss regulatory framework proves Zcash can operate within institutional requirements while maintaining its privacy guarantees – a critical proof point for broader adoption. > > \*\*Regulatory Breakthrough\*\* > > This project establishes potentially the first fully compliant, institutional-grade ZSA implementation in Europe, creating a regulatory blueprint that other financial institutions can follow. Swiss financial compliance is recognized globally, making this integration a powerful reference case. > > \*\*Technology Validation\*\* > > Our real-world deployment will stress-test ZSA technology at scale, providing valuable feedback for the Zcash development community while demonstrating the practical utility of shielded transactions in commercial environments. > > \### Proposed Solution > > Centi proposes a comprehensive 7-phase integration that transforms Zcash from a privacy-focused cryptocurrency into a fully operational payment infrastructure serving real-world financial needs. Our solution addresses the critical gap between Zcash's technical capabilities and mainstream adoption by leveraging Centi's established, regulatory-compliant platform. > > \*\*Core Solution Components:\*\* > > \*\*Immediate Market Access:\*\* Rather than building adoption from scratch, we integrate Zcash into Centi's existing ecosystem of 25,000+ active users and 500+ merchants. This provides instant transaction volume and real-world usage patterns that demonstrate Zcash's practical utility beyond speculative trading. > > \*\*Regulatory Compliance Framework:\*\* Our Swiss-regulated platform serves as a proof-of-concept for institutional Zcash adoption. By successfully implementing ZEC and ZSA transactions within one of the world's most stringent financial regulatory environments, we create a replicable compliance blueprint that other financial institutions can follow globally. > > \*\*Cross-Border Payment Infrastructure:\*\* We solve Zcash's liquidity and utility challenges by integrating it into established remittance corridors serving African diaspora communities. Traditional remittance providers charge 5-15% fees with 3-7 day settlement times. Our Zcash-powered solution offers sub-1% fees with instant settlement while providing transaction privacy that current providers cannot match. > > \*\*ZSA Commercial Validation:\*\* We implement the first commercial-grade Zcash Shielded Assets platform, enabling merchants to issue loyalty tokens, vouchers, and promotional instruments. This demonstrates ZSA's real-world utility beyond basic currency transfer and validates the technology for broader tokenization use cases. > > \*\*Stablecoin Bridge to Traditional Finance:\*\* Our CCHF (Swiss Franc-pegged ZSA stablecoin) creates a regulated bridge between traditional banking and the Zcash ecosystem. Bank-guaranteed and fully compliant, CCHF enables institutional participation while maintaining the privacy benefits of shielded transactions. > > \*\*Scalable Integration Model:\*\* Rather than a custom implementation, we build on Centi's existing multi-chain architecture, ensuring the Zcash integration can scale efficiently and serve as a template for other payment processors and financial institutions seeking to add privacy-preserving payment options. > > \*\*Privacy-First User Experience:\*\* We maintain Zcash's core privacy principles while creating an intuitive user experience that doesn't require technical blockchain knowledge. Users can send private transactions as easily as traditional payments, removing the technical barriers that currently limit Zcash adoption. > > This solution directly addresses Zcash's three primary adoption challenges: lack of real-world utility, regulatory uncertainty, and limited merchant acceptance. By the project's completion, Zcash will have a proven use case in regulated cross-border payments, a thriving merchant ecosystem, and a replicable model for institutional adoption. > > \### Solution Format > > Our solution delivers Zcash integration through five core software modules that extend Centi's existing financial infrastructure. Each delivery represents a complete, production-ready software component that can operate independently while contributing to the overall Zcash ecosystem integration. > > \*\*1. Zcash and ZSA Infrastructure & Application Integration\*\* > Software delivery format: Native mobile application updates (iOS/Android) and web application modules with full Zcash wallet functionality. Includes Zcash Wallet Proxy service, user interface components for ZEC balance management, transaction history, and shielded address handling. Deployed as containerized microservices with automated testing suites and CI/CD pipeline integration. > > \*\*2. Zcash and ZSA Payment Collection System\*\* > Software delivery format: Enhanced Direct Payment Protocol implementation supporting ZEC and ZSA transactions across all merchant touchpoints. Includes updated point-of-sale terminals, web payment widgets, QR code payment systems, and merchant dashboard modules. Delivered as API extensions, JavaScript SDKs, and updated merchant portal interfaces with comprehensive payment processing capabilities. > > \*\*3. Zcash and ZSA Exchange Module Integration\*\* > Software delivery format: Complete trading engine and liquidity management system supporting ZEC/ZSA to fiat conversions. Includes automated market-making algorithms, compliance reporting modules, and treasury management tools. Deployed as high-availability trading infrastructure with real-time settlement capabilities and regulatory reporting automation. > > \*\*4. Zcash and ZSA Remittance Payment System\*\* > Software delivery format: Cross-border payment processing platform leveraging existing African corridor infrastructure. Includes KYC/AML compliance modules, multi-country regulatory reporting, and cash digitization integration tools. Delivered as scalable payment routing software with automated settlement and recipient notification systems. > > \*\*5. Centi Franc ZSA Stablecoin Implementation\*\* > Software delivery format: Complete ZSA token infrastructure including issuance, redemption, and treasury management systems. Includes bank integration modules for Swiss Franc backing, regulatory compliance automation, and multi-signature custody solutions. Deployed as institutional-grade token management platform with full audit trail and regulatory reporting capabilities. > > \*\*Technical Architecture:\*\* All deliveries follow microservices architecture patterns, utilize containerized deployment, and integrate with Centi's existing API gateway and authentication systems. Each module includes comprehensive testing suites, monitoring dashboards, and automated deployment pipelines ensuring production-ready software delivery. > > \*\*Integration Approach:\*\* Solutions are delivered as backward-compatible extensions to existing Centi infrastructure, ensuring zero downtime deployment and seamless user experience transitions. All modules support horizontal scaling and multi-region deployment to accommodate growth and regulatory requirements across different jurisdictions. > > \### Dependencies > > Our project success relies on several critical external dependencies, primarily related to Zcash infrastructure maturity and technical support availability. > > \*\*Critical Technical Dependencies:\*\* > > \*\*1. Zebra Rust Component Availability and Stability\*\* > We require access to stable, production-ready Zebra Rust components for wallet proxy implementation. Our integration timeline assumes Zebra's consensus validation, transaction processing, and network synchronization capabilities are fully operational and documented. Any delays in Zebra's stability or API changes could impact our Month 1 wallet integration milestone. We need confirmed API stability commitments and early access to release candidates for testing. > > \*\*2. ZSA Protocol Implementation Readiness\*\* > Some of our project phases depend entirely on Zcash Shielded Assets being production-ready with complete wallet integration capabilities. This includes ZSA token issuance, transfer, and redemption functionality through standard wallet interfaces. We require confirmed ZSA mainnet activation dates and comprehensive technical documentation. Any delays in ZSA deployment would cascade through 5 of our 7 project phases, potentially requiring timeline adjustments or scope modifications. > > \*\*3. Dedicated ZSA Technical Support Resource\*\* > Given ZSA's cutting-edge nature and our role as an early commercial implementer, we need guaranteed access to ZSA protocol developers for implementation guidance. This includes architectural consultation for token issuance patterns, integration best practices for payment processors, and troubleshooting support for edge cases we may encounter during real-world deployment. Without expert technical support, we risk implementation delays or suboptimal integration approaches. > > \*\*Secondary Dependencies:\*\* > > \*\*4. Zcash Network Performance and Scalability\*\* > Our projected transaction volumes ($50+ million annually) require consistent network performance and reasonable transaction fees. Significant network congestion or fee spikes could impact user adoption and merchant acceptance. > > \*\*5. Regulatory Clarity Maintenance\*\* > Our Swiss regulatory compliance approach assumes continued regulatory clarity around privacy-preserving cryptocurrencies in Switzerland. Changes in regulatory interpretation could require compliance architecture modifications. > > \*\*Mitigation Strategies:\*\* > We propose establishing formal communication channels with Zcash development teams, participating in ZSA testing programs, and maintaining flexible development timelines that can accommodate reasonable delays in upstream dependencies while preserving overall project deliverables. > > \### Technical Approach > > Our technical implementation leverages Centi's proven multi-chain payment architecture while integrating Zcash-specific privacy and shielded asset capabilities. We employ a modular microservices approach that ensures scalability, maintainability, and seamless integration with existing infrastructure. > > \*\*Core Architecture Strategy:\*\* > > \*\*Zcash Wallet Proxy Layer\*\* > We implement a dedicated Zcash Wallet Proxy service that acts as the bridge between Centi's application layer and the Zcash network. This proxy abstracts Zcash complexity from our existing payment infrastructure while providing native shielded transaction capabilities. The proxy utilizes Zebra Rust components for consensus validation and network communication, ensuring full protocol compliance and optimal performance. > > \*\*Extended Direct Payment Protocol\*\* > Our existing Direct Payment Protocol (DPP) is enhanced to support ZEC and ZSA transactions while maintaining its peer-to-peer architecture. We extend the protocol's invoice generation, payment verification, and settlement confirmation mechanisms to handle shielded addresses and ZSA token transfers. This ensures that Zcash payments maintain the same user experience as existing cryptocurrency transactions within the Centi ecosystem. > > \*\*ZSA Token Management Infrastructure\*\* > We develop a comprehensive ZSA tokenization platform using smart contract-like capabilities for token issuance, redemption, and transfer management. The system includes merchant tools for creating loyalty tokens, vouchers, and promotional instruments while maintaining full transaction privacy. Our token management layer provides APIs for automated token distribution, balance tracking, and compliance reporting. > > \*\*Shielded Transaction Processing\*\* > All Zcash transactions utilize shielded pools by default, with our wallet proxy handling the complexity of shielded address generation, transaction construction, and proof generation. We implement automated fee injection systems to ensure seamless user experience while maintaining transaction privacy. Our processing layer includes batch transaction optimization for merchant scenarios and efficient UTXO management. > > \*\*Exchange Integration Architecture\*\* > Our exchange module integrates Zcash through automated market-making algorithms that provide liquidity between ZEC, ZSA tokens, and fiat currencies. The system includes real-time price discovery, automated rebalancing, and treasury management capabilities. We implement atomic swap mechanisms where possible and utilize secure custody solutions for large-value holdings. > > \*\*Cross-Border Payment Routing\*\* > For remittance functionality, we extend our existing African corridor infrastructure to support Zcash-powered transfers. This includes KYC/AML compliance automation, multi-hop payment routing through correspondent partners, and automated settlement with local cash digitization networks. Our routing algorithms optimize for speed, cost, and privacy while maintaining regulatory compliance. > > \*\*CCHF Stablecoin Implementation\*\* > The Centi Franc stablecoin utilizes ZSA infrastructure with bank-backed reserves held in Swiss financial institutions. We implement automated collateralization monitoring, redemption mechanisms, and regulatory reporting systems. The stablecoin includes multi-signature custody, automated rebalancing, and integration with traditional banking APIs for seamless fiat backing. > > \*\*Security and Compliance Framework\*\* > All components implement enterprise-grade security including HSM integration for key management, encrypted communication channels, and comprehensive audit logging. Our compliance layer provides automated regulatory reporting, transaction monitoring, and KYC/AML integration while preserving Zcash's privacy guarantees where legally permissible. > > \*\*Deployment and Scaling Strategy\*\* > We utilize containerized microservices deployed through Kubernetes orchestration, enabling horizontal scaling and multi-region deployment. Our infrastructure includes automated monitoring, alerting, and failover capabilities to ensure high availability for payment processing workloads. > > \### Upstream Merge Opportunities > > Our ZSA implementation creates significant opportunities for cross-ecosystem collaboration and code contribution that benefit the broader Zcash development community while establishing interoperability standards for future ZSA adopters. > > \*\*ZSA Interoperability Standards\*\* > Our commercial-scale ZSA implementation will generate reusable integration patterns, API specifications, and best practices that can be contributed back to the Zcash ecosystem. As one of the first major ZSA commercial deployments, we'll develop standardized approaches for token issuance, merchant integration, and payment processing that other developers can adopt. These standards become particularly valuable for wallet developers, payment processors, and DeFi protocols seeking ZSA compatibility. > > \*\*CCHF Stablecoin Infrastructure Sharing\*\* > The CCHF stablecoin infrastructure we develop operates as a public ZSA asset that any Zcash application can integrate. Other developers building ZSA-compatible applications can utilize CCHF for stable value transfers, creating a shared liquidity pool that benefits the entire ecosystem. Our stablecoin bridge between traditional banking and ZSA creates infrastructure that serves projects beyond Centi's immediate use cases. > > \*\*Cross-Platform ZSA Asset Compatibility\*\* > Our payment collection and exchange systems are designed to handle ZSA tokens issued by any entity, not just Centi-originated assets. This means other projects developing ZSA tokens can immediately leverage our merchant network, exchange liquidity, and remittance corridors. Conversely, Centi users gain access to the broader ZSA token ecosystem, creating network effects that benefit all participants. > > \*\*Open Source Component Contributions\*\* > Key components of our integration, particularly the Zcash Wallet Proxy and ZSA token management libraries, can be open-sourced to accelerate ecosystem development. Our payment protocol extensions, merchant integration tools, and compliance frameworks provide building blocks that reduce development time for future ZSA implementers. > > \*\*Regulatory Compliance Templates\*\* > Our Swiss regulatory compliance implementation creates a replicable framework that other financial institutions can adapt for their jurisdictions. We'll document our compliance approaches, regulatory reporting mechanisms, and institutional integration patterns, providing a blueprint that accelerates legitimate ZSA adoption globally. > > \*\*Merchant Integration Standardization\*\* > The merchant tools and APIs we develop for ZSA acceptance create integration standards that benefit the entire Zcash merchant ecosystem. E-commerce platforms, point-of-sale systems, and payment processors can adopt our integration patterns, expanding ZSA acceptance beyond Centi's immediate merchant network. > > \*\*Cross-Chain Architecture Patterns\*\* > Our multi-chain payment architecture accommodating Zcash alongside other cryptocurrencies provides proven patterns for payment processors seeking to add ZSA support to existing platforms. These architectural approaches can guide other fintech companies in implementing privacy-preserving payment options without rebuilding their entire infrastructure. > > The collaborative nature of our approach ensures that Centi's ZSA success directly contributes to broader ecosystem growth, creating shared infrastructure and standards that accelerate Zcash adoption across multiple use cases and industries. > > \### Hardware/Software Costs (USD) > > 25000 > > \### Hardware/Software Justification > > Hardware and software costs cover essential infrastructure for production-ready Zcash integration. This includes dedicated server infrastructure for running Zebra nodes and Zcash wallet proxy services ($15,000), software licenses for development tools, security testing platforms, and monitoring systems ($7,000), and HSM (Hardware Security Module) integration for secure key management in production environments ($3,000). These costs ensure enterprise-grade security and reliability required for handling financial transactions and maintaining regulatory compliance. > > \### Service Costs (USD) > > 50000 > > \### Service Costs Justification > > Service costs encompass third-party services essential for project delivery and compliance. This includes regulatory consulting for Swiss financial compliance and ZSA stablecoin legal framework ($20,000), security auditing services for smart contract and payment processing components ($15,000), cloud infrastructure costs for development, testing, and initial deployment environments ($10,000), and external penetration testing and compliance certification services ($5,000). These services ensure the integration meets institutional-grade security and regulatory requirements. > > \### Compensation Costs (USD) > > 325000 > > \### Compensation Costs Justification > > Compensation represents the primary project investment, covering specialized blockchain developers with Zcash and privacy-preserving technology expertise. This includes lead Zcash integration developer (7 months at $15,000/month = $105,000), ZSA tokenization specialist (7 months at $12,000/month = $84,000), backend payment processing developer (7 months at $10,000/month = $70,000), frontend/mobile developer for wallet integration (5 months at $8,000/month = $40,000), and QA/testing specialist focusing on financial transaction validation (3 months at $8,667/month = $26,000). Given the specialized nature of Zcash development and the commercial-grade requirements, these rates reflect market compensation for experienced blockchain developers capable of delivering production-ready financial infrastructure. > > \### Total Budget (USD) > > 400000 (50k will come directly from Centi, which is why it is higher than the applied 350k USD) > > \### Previous Funding > > No > > \### Previous Funding Details > > n.a. > > \### Other Funding Sources > > Yes > > \### Other Funding Sources Details > > Centi contributes $50,000 in internal resources including existing infrastructure utilization, project management overhead, business development activities for merchant onboarding, marketing and user acquisition campaigns in African markets, and ongoing maintenance commitments beyond the grant period. This co-investment demonstrates Centi's commitment to long-term Zcash ecosystem participation and ensures project sustainability beyond initial development. > > \### Implementation Risks > > \*\*ZSA Protocol Readiness Risk (High Impact, Medium Probability)\*\* > The most significant risk is ZSA protocol delays or functionality limitations. Since 5 of our 7 project phases depend on ZSA being production-ready, any protocol delays cascade through the entire timeline. Mitigation: Establish direct communication with ZSA development teams, participate in early testing programs, and maintain flexible milestone sequencing that allows non-ZSA phases to proceed independently. > > \*\*Regulatory Compliance Changes (Medium Impact, Low Probability)\*\* > Swiss regulatory interpretation of privacy-preserving cryptocurrencies could evolve during development, potentially requiring architecture modifications for the CCHF stablecoin or compliance reporting mechanisms. Mitigation: Maintain ongoing dialogue with Swiss financial regulators, implement modular compliance architecture that can adapt to requirement changes, and establish legal review checkpoints throughout development. > > \*\*Zebra Integration Complexity (Medium Impact, Medium Probability)\*\* > Zebra Rust components may require more extensive customization than anticipated, or API changes could necessitate integration rewrites. Our wallet proxy architecture depends heavily on stable Zebra interfaces. Mitigation: Begin with proof-of-concept implementations early in development, maintain close coordination with Zebra development teams, and design abstraction layers that minimize direct dependencies. > > \*\*Merchant Adoption Resistance (Medium Impact, Low Probability)\*\* > Existing merchants may resist adding new payment methods due to training requirements or technical complexity. Our 500+ merchant projection assumes smooth adoption of ZSA payment tools. Mitigation: Prioritize seamless user experience design, provide comprehensive merchant training programs, and implement gradual rollout starting with most technically sophisticated merchants. > > \*\*Network Performance at Scale (High Impact, Low Probability)\*\* > Zcash network congestion or high transaction fees could impact user experience and merchant acceptance, particularly during peak usage periods. Our $50M transaction volume projection requires consistent network performance. Mitigation: Implement transaction batching and optimization strategies, maintain contingency plans for fee management, and establish monitoring systems for network performance metrics. > > \### Potential Side Effects > > \*\*Increased Regulatory Scrutiny\*\* > Success in implementing compliant privacy-preserving payments may attract increased regulatory attention to Zcash, potentially leading to stricter compliance requirements industry-wide. While this validates Zcash's institutional viability, it could increase operational complexity for other ecosystem participants. > > \*\*Market Concentration Risk\*\* > Centi's large-scale integration could create dependency relationships within the Zcash ecosystem, where significant transaction volume flows through a single platform. This concentration could impact decentralization principles if not managed carefully. > > \*\*Technology Lock-in Effects\*\* > Our integration patterns and compliance frameworks may become de facto standards that influence future ZSA implementations, potentially limiting technical diversity in the ecosystem if our approaches become overly dominant. > > \### Success Metrics > > \*\*Quantitative Metrics:\*\* > > \*\*User Adoption:\*\* 25,000+ Centi users actively using ZEC wallets within 6 months of launch > \*\*Transaction Volume/Activity:\*\* 50,000 annual ZEC/ZSA transaction volume through Centi platform in the first year. > \*\*Merchant Integration:\*\* 500+ merchants accepting ZEC/ZSA payments > \*\*Cross-border Efficiency:\*\* Average remittance fees below 1% compared to 5-15% traditional alternatives > \*\*Network Activity:\*\* 50,000+ ZEC transactions processed through Centi infrastructure annually > \*\*Stablecoin Adoption:\*\* CCHF market capitalization on ZSA reaching $10+ million within 12 months > > \*\*Qualitative Metrics:\*\* > > \*\*Regulatory Acceptance:\*\* Successful regulatory approval and ongoing compliance for all implemented features > \*\*Technical Validation:\*\* Zero critical security vulnerabilities and 99.9% uptime for payment processing > \*\*Ecosystem Integration:\*\* At least 3 other projects utilizing CCHF or Centi's ZSA infrastructure (independent from Centi and this proposal) > \*\*User Experience:\*\* Average transaction completion time under 30 seconds for shielded transactions > \*\*Market Recognition:\*\* Coverage in mainstream financial media highlighting compliant privacy payments > > \*\*Long-term Impact Indicators:\*\* > > \*\*Institutional Interest:\*\* Inquiries from other financial institutions about replicating the integration model > \*\*Geographic Expansion:\*\* Successful deployment across multiple African countries with regulatory approval > \*\*Technology Adoption:\*\* Other payment processors implementing similar ZSA integration approaches > \*\*Ecosystem Growth:\*\* Measurable increase in overall Zcash network activity attributable to Centi integration > > \### Startup Funding (USD) > > 50000 > > \### Startup Funding Justification > > The initial $50,000 startup funding is critical for establishing the technical foundation and securing specialized talent before full project execution begins. This funding covers essential upfront costs including hiring and onboarding the lead Zcash integration developer ($20,000 for first month plus recruitment costs), establishing development infrastructure including Zebra node setup, testing environments, and security tooling ($15,000), conducting preliminary technical feasibility assessments and architecture planning with ZSA protocol experts ($10,000), and securing initial regulatory consultation for Swiss compliance framework design ($5,000). > > The Zcash integration expertise required is highly specialized and not readily available in the general developer market, necessitating dedicated recruitment efforts and competitive compensation to secure appropriate talent. > > Additionally, the startup funding enables us to begin technical due diligence on ZSA protocol readiness and Zebra integration requirements before committing to full development timelines. This reduces overall project risk by validating technical assumptions and identifying potential integration challenges early in the development cycle. > > The $50,000 represents approximately 14% of the total grant amount, which is reasonable for a complex technical integration project requiring specialized blockchain expertise and regulatory compliance preparation. This upfront investment ensures project momentum from day one and reduces the risk of delays that could cascade through the entire 7-month development timeline. > > \### Milestone Details > > \`\`\`milestones.yaml > For details please also the the attached document: > > Milestone: 1 (Wallet Proxy) > Amount (USD): $50,000 (Zcash) + $25,000 (Centi) = $75,000 total > Expected Completion Date: 2025-08-11 > > Milestone: 2 (Payment Processing - Months 2-3) > Amount (USD): $50,000 (Zcash) + $25,000 (Centi) = $75,000 total > Expected Completion Date: 2025-10-11 > > Milestone: 3 (Tokenization - Month 4) > Amount (USD): $50,000 (Zcash only) > Expected Completion Date: 2025-11-11 > > Milestone: 4 (Token Payment Processing/Acceptance - Month 5) > Amount (USD): $50,000 (Zcash only) > Expected Completion Date: 2025-12-11 > > Milestone: 5 (Zcash and ZSA Tokens in Exchange Module - Month 6) > Amount (USD): $50,000 (Zcash only) > Expected Completion Date: 2026-01-11 > > Milestone: 6 (Remittances - Month 7) > Amount (USD): $50,000 (Zcash only) > Expected Completion Date: 2026-02-11 > > Milestone: 7 (CCHF Stablecoin on Zcash ZSA - Month 7) > Amount (USD): $50,000 (Zcash only) > Expected Completion Date: 2026-02-11 > \`\`\` > > \### Supporting Documents > > \`\`\`files.yaml > \- Grant Application\_ Co-creation with Centi and Zcash (ZSA): PDF version of the Grant Proposal also with Screenshots and more detailed milestone description: https://drive.google.com/file/d/1JaHY7oskQ1zBQJoYl4tE6fRl24AUT233/view?usp=sharing > > Please check out our Homepages and online Information: > > https://centi.app (consumer landing page), > https://centi.ch (overall landing page), > https://centi.business (b2b landing page), > https://centi.ch/centi-franc (Description and Terms of Centi Franc Stablecoin), > https://centi.app/remittance (Check rates for remittances), > https://wallet.centi.app (web wallet), > https://tosto.re/centiapp (iOS and Android App download) > \`\`\` ---
**Author:** ![aquietinvestor](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/aquietinvestor/32/34528_2.png) [@aquietinvestor](https://forum.zcashcommunity.com/u/aquietinvestor)\ **Post date:** [June 17, 2025, 12:26pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/3 "2025-06-17T12:26:32Z")
Hi @BernhardCenti - Welcome to the forum, and thank you for submitting your grant proposal! We will review it in the upcoming weeks and reach out if we have any questions. In the meantime, if you have any questions for us, you can post them to this thread or message us in the Signal group we created. Zcash Community - We want to hear your feedback on this grant! You can post your comments to this thread or DM us at [@ZcashGrants](https://forum.zcashcommunity.com/groups/zcashgrants) if you’d like to provide feedback in private. Thanks! ---
**Author:** ![Angst01](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/angst01/32/18852_2.png) [@Angst01](https://forum.zcashcommunity.com/u/Angst01)\ **Post date:** [June 17, 2025, 1:22pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/5 "2025-06-17T13:22:53Z")
Wow. This is very exciting. Looking forward to reviewing this grant proposal in detail. ---
**Author:** ![Milton](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/milton/32/21375_2.png) [@Milton](https://forum.zcashcommunity.com/u/Milton)\ **Post date:** [June 17, 2025, 4:45pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/6 "2025-06-17T16:45:36Z")
How does the KYC/AML work? Will the stablecoin have a viewing key backdoor that enables you to see all transactions? ---
**Author:** ![covfefe](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/covfefe/32/26692_2.png) [@covfefe](https://forum.zcashcommunity.com/u/covfefe)\ **Post date:** [June 17, 2025, 8:35pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/7 "2025-06-17T20:35:55Z")
Exciting!! ---
**Author:** ![BernhardCenti](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/bernhardcenti/32/37980_2.png) [@BernhardCenti](https://forum.zcashcommunity.com/u/BernhardCenti)\ **Post date:** [June 17, 2025, 10:59pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/8 "2025-06-17T22:59:56Z")
Centi is a money services provider. We can exchange up to 1000 CHF per month and user without KYC. Beyond that we have to KYC. The Shielded Assets allow different time of issuances. In case of Centi Franc on ZSA we would not have discretion over transactions (e.g. co-signature control or any part in a valid transfer), the token is on chain like cash. The asset could be issued with a ZSA addition that allows the issuer to see the distribution table of the asset and create transparency vs. the auditor. So in short there will be no direct tie of the ZSA to the user. The assets can be freely transferred like cash without any intermediary (apart from the Zcash network). Users can freely accept the asset without any pre-registration of any kind. Also mind you the Centi Franc on ZSA will also be compatible with all other wallets, applications and ecosystem components that adopt ZSA. Centi is the official redemption site/provider for people to get CHF out of Centi Franc, but if e.g. an exchange lists them also, someone can even use it and enter/exit to fiat rails without needing to go through Centi. But yes, if you do come to us with e.g. 50k CHF in this asset to exchange it, we will have to KYC you. This is however, the company Centi and does not tie this identity to you on chain (and it is a shielded asset anyway). Your business with Centi is private but not anonymous. If we KYC you, we will of course only share your data with authorities if we are forced to by legal circumstances. ---
**Author:** ![sudo\_ml](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/sudo_ml/32/32958_2.png) [@sudo\_ml](https://forum.zcashcommunity.com/u/sudo_ml)\ **Post date:** [June 18, 2025, 2:47am UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/9 "2025-06-18T02:47:14Z")
Exciting! Some questions: 1. Can you provide stats on adoption of the your stablecoin CCHF? > Merchants have been waiting for privacy-preserving digital payments without realizing it. We’re giving 500+ merchants immediate access to what they actually need. 1. Per the quote above, can you please provide actual merchant anecdotes, from conversations you have with them? Intuitively it makes sense, but before disbursing a $350,000 grant it would be good to know the market actually exists beyond our gut instincts. 2. How does a Swiss Franc denominated stablecoin make it into Africa payment networks? What are the top currencies used in Africa? From an uneducated perspective it seems like the local currencies and USD would be in the lead. ---
**Author:** ![BernhardCenti](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/bernhardcenti/32/37980_2.png) [@BernhardCenti](https://forum.zcashcommunity.com/u/BernhardCenti)\ **Post date:** [June 18, 2025, 7:49am UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/10 "2025-06-18T07:49:45Z")
Dear @sudo_ml thank you for your interest and your questions: 1. The Centi Franc is rather small today with an issued amount of 20’000’000 tokens representing 200k CHF backed by bank guarantee (190k CHF in circulation). This can easily be increased of course. Today the Centi Franc is not exchanged listed which means all the entry and exit volume is currently with us. The Centi Franc has 1.3 million transactions so far, many of them come from testing however. In the past two years we had several 10k economic transactions either with our merchants or in remittance (see point 3). The Centi Franc is also popular for HODL as the CHF is know to be very stable especially in times of economic and social uncertainties. 2. Yes very good question. If you read the quite in detail you can also see the “without realizing it” part. We do have merchants which do have crypto know-how and these merchants are very well aware that if they e.g. use an ETH address to collect the money all the time, that their clients and competition could use the blockchain to see into their revenues. Most merchants make only little revenue with stablecoin today, but this is about to change massively and I am sure these big players will also need s solution for this issue. Shielded Accounts is a solution for this issue which you have available right here. For reference here, some Info about big stablecoin payment initiatives by the big guys: - **USDC & Shopify, Stripe, Coinbase:** These three heavyweights of digital commerce have joined forces to form a **stablecoin alliance** to establish **USDC as a native payment method in e-commerce**. Source: [USDC-Explosion im E-Commerce? – Shopify, Coinbase und Stripe gründen Allianz - DER AKTIONÄR](https://www.deraktionaer.de/artikel/aktien/usdc-explosion-im-e-commerce-shopify-coinbase-und-stripe-gruenden-allianz-20381738.html) - Stripe is now deeply integrated into the stablecoin ecosystem according to _Sytaylor_: Following the **Bridge deal ($1 billion)**, Stripe has once again demonstrated with the **acquisition of Privy** that the combination of wallet infrastructure and stablecoin processing is strategically crucial. Source: [BREAKING: Stripe just made their second major crypto acquisition. | Simon Taylor](https://www.linkedin.com/posts/sytaylor_breaking-stripe-just-made-their-second-major-activity-7338591680926756865-3lW_/) - **Amazon & Walmart revolutionize retail payments:** The two largest US retailers (Amazon with $638 billion and Walmart with $122 billion in annual revenue) are developing their own stablecoins to save billions in transaction fees. According to the Wall Street Journal, these corporate stablecoins could bypass the traditional card payment system and eliminate interchange fees to Visa/Mastercard ([Walmart and Amazon exploring new way for shoppers to pay that could impact banks](https://www.the-sun.com/money/14495027/walmart-amazon-exploring-stablecoin-payment-option/)). Other major companies like Expedia and airlines are examining similar initiatives ([Walmart, Amazon Explore Stablecoins](https://www.pymnts.com/cryptocurrency/2025/walmart-amazon-explore-stablecoins-as-senate-advances-regulatory-framework/)) – a clear signal that stablecoins are evolving from experimental technology to mainstream business infrastructure. 1. There are two aspects to this: - Our current remittance business focusses fully on the corridor from Switzerland (and surrounding Europe) to Africa. Therefore the Europeans or European diaspora tops up their Centi App with Centi Franc, and then can use these Centi Franc to remit money to Africa (receiver receives local currency either on bank account or in mobile wallet). - However, talking to the diaspora here and also having visited Kenya, we see that there would also be a need for something like Centi directly in these countries. E.g. the Kenya Shilling has lost over 10% in value even against the USD last year, against CHF even more. So for people that do actually safe money, stablecoins are a grat option. We would like to offer Centi App also directly into African countries, but we first have to integrate meaningful on-ramps there, as our focus so far was only on payouts in Africa. Also some African countries, like e.g. Kenya, are implementing 1% transfer tax for payment system money (MPESA, Bank transfers, etc.). But this does not apply to cash (physical or digital) which could be a huge opportunity for wallets like Centi App. Edit: it is 1.5% even: [State slashes digital transfer tax to 1.5 per cent to boost tech sector](https://eastleighvoice.co.ke/ruto%20taxes/149030/state-slashes-digital-transfer-tax-to-1-5-per-cent-to-boost-tech-sector) Please let me know if you have any follow up questions. ---
**Author:** ![Milton](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/milton/32/21375_2.png) [@Milton](https://forum.zcashcommunity.com/u/Milton)\ **Post date:** [June 18, 2025, 12:32pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/11 "2025-06-18T12:32:14Z")
1. [The EU is reportedly going to ban privacy preserving coins in 2027.](https://cointelegraph.com/news/eu-crypto-ban-anonymous-privacy-tokens-2027) How will this affect Switzerland and by extension Centi? 2. Do you have a list of countries you support for on- and off-ramping? Sidenote to ZCG: I hope some of you will try to use the Centi app before making a decision. ---
**Author:** ![emersonian](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/emersonian/32/42565_2.png) [@emersonian](https://forum.zcashcommunity.com/u/emersonian)\ **Post date:** [June 18, 2025, 3:36pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/12 "2025-06-18T15:36:15Z")
Disclosure: I am advising a stablecoin project. I don’t see why community money is needed to launch this. Why not fundraise from private investors? Respectfully I do not see this particular project as a good use of our funds. Would your company launch this ZSA even without community funding, how truly committed are you to privacy? ---
**Author:** ![sudo\_ml](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/sudo_ml/32/32958_2.png) [@sudo\_ml](https://forum.zcashcommunity.com/u/sudo_ml)\ **Post date:** [June 18, 2025, 3:43pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/13 "2025-06-18T15:43:20Z")
Thanks for the comprehensive and quick response. A $350,000 check size is a very large grant. Is there a smaller version of this grant that can test the market before more is invested? What is a “ZSA tokenization specialist (7 months at $12,000/month = $84,000)”? To my knowledge ZSAs are too new to have people specialized in it? Haha ---
**Author:** ![artkor](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/artkor/32/28573_2.png) [@artkor](https://forum.zcashcommunity.com/u/artkor)\ **Post date:** [June 18, 2025, 7:11pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/14 "2025-06-18T19:11:11Z")
I installed this app and played around with it a bit. You can check it out with me at this link: [![](https://global.discourse-cdn.com/zcash/original/3X/a/f/af7247559aab61fb3cdf6e4d0a6bc0107dbb79e5.jpeg "Centi") ](https://www.youtube.com/watch?v=EYHv60Hp2WU) For some reason, I couldn’t delete my account after testing it. The app says my password is incorrect, even though I changed it to make sure it was correct. I don’t know what the problem is. ---
**Author:** ![gigantes](https://avatars.discourse-cdn.com/v4/letter/g/4bbf92/32.png) [@gigantes](https://forum.zcashcommunity.com/u/gigantes)\ **Post date:** [June 18, 2025, 7:34pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/15 "2025-06-18T19:34:56Z")
Centralized stablecoins are a dead end. Who exactly wants to hold a digital censorable version of fiat currency whose purchasing power is melting like ice cubes? ---
**Author:** ![BernhardCenti](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/bernhardcenti/32/37980_2.png) [@BernhardCenti](https://forum.zcashcommunity.com/u/BernhardCenti)\ **Post date:** [June 18, 2025, 7:49pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/16 "2025-06-18T19:49:06Z")
Dear @Milton 1. You are right to think about the EU. We have done a lot of research also about EU laws and I am convinced ZSA (depending on the contract type) are compatible. That stated, as a Swiss company we currently only actively solicit (i.e. targeted advertising) business in Switzerland. The stablecoin is and will be a Swiss product. Swiss financial services companies are allowed to serve global customers, limits to active market penetration apply however. 2. Yes I do. Currently to join the Centi App you need to have a phone number in one of these countries: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Italy, Japan, Luxembourg, Netherlands, New Zealand, Norway, Poland, Portugal, South Korea, Spain, Sweden, Switzerland, UK, and the US. Edit: These countries, except for a few, are our own risk and market considerations. We do think of bein opening more corridors, but we have to build onramps, see another post above about that. The app is downloadable globally with Android, on iOS it is limited to Switzerland, EEA and EU. For our brokerage (people would like to transact more than 10000 CHF) there is no specific county list, we have a risk based onboarding approach, pretty similar to other financial services providers. ---
**Author:** ![BernhardCenti](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/bernhardcenti/32/37980_2.png) [@BernhardCenti](https://forum.zcashcommunity.com/u/BernhardCenti)\ **Post date:** [June 18, 2025, 7:52pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/17 "2025-06-18T19:52:27Z")
1. No we would not, as the costs associated are significant and ZSA has no grown ecosystem yet like e.g. ERC-20ies on Arbitrum have (I take this as an example as this was the last technology we implemented) 2. We are fully committed to digital cash and the privacy advantages it can bring. We also as a company target specific use cases where privacy is desirable. What we are not, however, is anarchists or a company does not play the the rules. Many of the rules are not up to us to make, we have to follow them, however. Mainly data protection and AML regulations. ---
**Author:** ![BernhardCenti](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/bernhardcenti/32/37980_2.png) [@BernhardCenti](https://forum.zcashcommunity.com/u/BernhardCenti)\ **Post date:** [June 18, 2025, 7:56pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/18 "2025-06-18T19:56:38Z")
Yes the project can be started on a 50k grant for the first milestone. The community does not have to commit to more to get started. We will build the specialist, and yes that takes time and some money, especially this person needs to be a fast learner. Basically development budget. If e.g. certain things are provided out of the community already, we will not have to make them. But we will for sure have to integrate rather deeply. And of course we would be open to work with someone from the community here also, especially e.g. someone from Zebra team could make a lot of sense. ---
**Author:** ![BernhardCenti](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/bernhardcenti/32/37980_2.png) [@BernhardCenti](https://forum.zcashcommunity.com/u/BernhardCenti)\ **Post date:** [June 18, 2025, 7:59pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/19 "2025-06-18T19:59:00Z")
Please write a mail to support@centi.ch with your account email. Since we are a financial services company we have to check if there are financial TXes associated to the account before deleting all data. If there are none, we will delete all your data. Let me know if you have any other questions or feedback. Thanks. ---
**Author:** ![emersonian](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/emersonian/32/42565_2.png) [@emersonian](https://forum.zcashcommunity.com/u/emersonian)\ **Post date:** [June 18, 2025, 11:10pm UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/21 "2025-06-18T23:10:31Z")
I recommend that ZCG rejects this grant. If the builder builds regardless without money, with passion, then they are the right fit for a retroactive grant. Zcash is the best technology to enable a private stablecoin. May the best builder win, without upfront funding. ---
**Author:** ![artkor](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/artkor/32/28573_2.png) [@artkor](https://forum.zcashcommunity.com/u/artkor)\ **Post date:** [June 19, 2025, 7:31am UTC](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493/22 "2025-06-19T07:31:06Z")
This is a reflective post with questions for @Bernhard A good stablecoin, in general terms, should have a number of key features: **1. First, stability.** Despite the opinion that centralized stablecoins are a dead end, this option is currently the one that gives the MAJORITY of people reasons to use them, even if I myself don’t like it, but that’s how it is. And historically, decentralized options have not been good enough. So far, only DAI has shown sustained stability due to the fact that Ethereum got off the ground during the formation of DAI. Of the popular USDD, FRAX, and LUSD, they show instability, but how many have completely collapsed: UST, USDN, IST and other. Centralized options have also had problems, but they have been helped to survive by audited reports on collateral. Since Centi’s CHF is not traded anywhere, this is currently uncertain. I simply cannot even check whether I will be able to exchange it for money in any country other than those on the list of partners. _The list is not bad, but how do I know that they will not stop accepting it tomorrow?_ **2. Collateral.** You mentioned a bank guarantee. In my experience, this document is not that difficult to obtain for 2-5% of the contract price, depending on the country.I’m not sure if this is good collateral for a stablecoin. _But maybe you could clarify how it works in practice? What exactly did you get a bank guarantee for? Why do you think this is a reliable method of collateral?_ **3. Liquidity.** I touched on this topic above. But I just want to understand. _If there is no market liquidity, can it even be called a stablecoin in the classical sense?_ **4. Regulatory compliance and auditing.** For ZSA, I don’t yet understand how we will resolve this issue. As for auditing, this is more of a technical misunderstanding on my part. But regulatory compliance is the only thing that attracts me to this grant, to be honest. I would like the community to try its hand at this to understand how much a stablecoin on ZSA can comply with the legislation of a developed economy. Switzerland has both fairly loyal regulation and, at the same time, traditionally the most specific and unambiguous regulation. This would help us assess our chances for expanding ZSA in this direction. However, I don’t want to face the obvious situation where the grant is formally fulfilled, but the CHF shielded project is closed due to insurmountable circumstances. In that case, the community’s 350,000 would be thrown away, and that is something we cannot afford in our reality. This is about half of the quarterly budget of ECC, a large team focused on results. This is certainly a very sensitive issue, which is why I am asking you about it: _how do you assess the chances that this will be legal in Switzerland? What analysis did you conduct to be sure of this?_ [Next page](https://forum.zcashcommunity.com/t/centi-and-zcash-shielded-assets-a-co-creation-project/51493.md?page=2)