Peanut Revolutionizes Crypto Offramping with Self-Custodial Solution
London, United Kingdom, October 24th, 2024, Chainwire
Breaking barriers between the crypto and fiat worlds, Peanut has unveiled a beta version of the first self-custodial offramp. This groundbreaking feature allows users to directly convert any token from over 20 EVM chains into US Dollars or Euros and transfer the funds to their bank accounts without the need for centralized exchanges.
Key Features of Peanut’s Self-Custodial Offramp
- Users can cash out funds from any token on 20+ EVM chains directly in US Dollars or Euros to their bank account.
- Bypass the need for centralized exchanges (CEXes) or other custodied solutions.
- Create a seamless bridge between blockchains and fiat payment networks like IBAN, BIC, or SWIFT.
- Transfer funds using QR codes or messaging platforms like WhatsApp, Telegram, and email.
- Recipients can transfer funds to their bank accounts without needing a wallet.
This innovative offramping solution allows for frictionless and user-friendly money transfers across platforms. By enabling users to send stablecoins through popular messaging channels, Peanut is simplifying crypto for everyday use.
Co-founder of Peanut, Hugo Montenegro, expressed the significance of this advancement, stating, “Texting money is now possible. This is a major step toward simplifying crypto for everyday use, meaning you can send stablecoins through channels like WhatsApp, Telegram, Email etc.”
During the beta launch, users will benefit from a discounted fee of $1 plus 0.25% for each transaction, with a minimum cashout amount of $10.
About Peanut
Peanut is pioneering the transformation of crypto payments with its innovative fully decentralized self-custodial protocol, Peanut Protocol. This protocol allows for seamless cross-chain transactions and offramping using payment links. With Peanut, users can easily send, receive, cross-chain swap, and convert funds to fiat currencies, making crypto more accessible than ever before.
The platform’s unique secret-protected vault smart contracts ensure top-tier security, guaranteeing that funds are only released when a private link is shared by the sender.
Derek, the CTO of Reown, emphasized the ease of use of Peanut, stating, “Anyone can now send funds seamlessly.”
Peanut Protocol supports over 20 blockchain networks and has plans for further expansion. As a non-custodial and permissionless solution, Peanut empowers users with complete control over their digital assets. Leading blockchain projects such as Blockscout, WalletConnect, and Clave Wallet are already leveraging Peanut’s technology to enhance user experience.
Contact
Co-Founder: Konrad Urban
Company: Squirrel Labs
Email: press@peanut.to