The short answer to this question would be no. 

API keys generated by our platform can be used to integrate our services into your application. 

It is required that your application generate the OTP code, and through the use of the API, disburse a message with that generated code to your customers.  

So in summary, the API key allows you to easily integrate our messaging feature into your application allowing you to bypass the manual process of composing and sending messages via our platform -

Here are a few related guides you can reference to learn more about how to use our APIs.