A new financial protocol called Peanut has emerged, promising to revolutionize international money transfers by eliminating fees entirely while maintaining user control through self-custodial wallet technology. The platform combines traditional banking rails with cryptocurrency infrastructure to enable instant global payments across 140+ countries and 50+ currencies.
Supported Coverage
- 140+ countries supported
- 50+ currencies available
- 0% fees on all transfers
- US and EU banking rails fully supported
- Brazil + Pix integration launching this week
Technical Innovation Behind Zero Fees
Peanut's approach differs significantly from traditional money transfer services like Wise or Revolut. The platform uses USD stablecoins (USDC and USDT) as the base currency for all user balances, which simplifies the complex web of international exchange rates. When users need to convert to local currencies, Peanut partners directly with local exchange providers who can offer better rates because they receive stablecoins immediately rather than waiting days for traditional bank settlements.
The technical architecture ensures true self-custody through an innovative link-sharing system. Payment links contain cryptographic keys after a hash symbol (#), which prevents servers from accessing the secret information needed to steal funds. This design maintains the non-custodial nature while enabling simple money transfers through WhatsApp, phone numbers, or QR codes.
Technical Specifications
- Base currency: USD stablecoins (USDC/USDT)
- Authentication: Passkeys with Face ID/Touch ID/Passcode
- Platform: Progressive Web App (PWA)
- Code: Open source
- Transfer speed: ~10 minutes estimated arrival
- Security: 100% self-custodial with cryptographic link protection
Browser Compatibility and User Experience Challenges
Early user testing has revealed some technical hurdles. The platform currently experiences compatibility issues with Firefox on Linux systems, where users encounter problems during the setup process. The service appears to work better on other browser-operating system combinations, though the development team is actively addressing these compatibility concerns.
The platform operates as a Progressive Web App (PWA) and maintains open-source code, despite industry advice against this approach. This decision reflects the team's commitment to transparency and community involvement in the development process.
Expanding Geographic Coverage
Peanut currently supports both US and European banking systems, with Brazilian Pix integration scheduled for release this week. The development team is actively working on recurring payment features, addressing a common pain point for users who regularly send money to family members abroad. A staging environment is available for testing new features, though it remains unstable during active development.
We're literally adding it this week! Give me your email or some place to reach you, i'll notify you
Partner Financial Institutions
- BBVA
- Brubank
- N26
- Santander
- Revolut
- Stripe
- Pix
Security and Regulatory Compliance
The platform emphasizes security through biometric authentication using Face ID, Touch ID, or device passcodes via Passkeys technology. Users maintain complete control over their assets, with identity verification only required when specific features demand it, rather than mandatory KYC processes for basic operations.
Peanut operates under international licensing standards and partners with regulated financial institutions including major banks like BBVA, Santander, and N26, as well as payment processors like Stripe. The service complies with GDPR and CCPA frameworks while holding MSB licenses through its compliance partners.
The combination of regulatory compliance with self-custodial control represents an attempt to bridge traditional finance with decentralized technology, offering users the benefits of both systems while minimizing the drawbacks typically associated with each approach.
Reference: BUTTERY SMOOTH GLOBAL MONEY