Peanut provides a self-custodial wallet for instant, zero-fee peer-to-peer payments globally using digital dollars like USDT and USDC. The platform connects crypto assets to traditional banking rails via licensed partners, enabling users to send funds across borders 24/7. It facilitates local spending by allowing users to pay via QR codes without needing bank details or mandatory KYC for basic operations.
Funding
Funding not disclosed
Founders
Product
Problem
Current methods for sending and receiving cryptocurrency often require users to manage complex wallet addresses and navigate cumbersome transaction processes. This complexity creates friction, especially for new users, hindering broader adoption of digital currencies.
Solution
Peanut offers a simplified payment solution that enables users to send cryptocurrency via shareable links, abstracting away the complexities of wallet addresses and transaction confirmations. Senders create a payment link, and recipients claim the funds by connecting their wallet. This approach streamlines the payment experience, making it more accessible and user-friendly. The Peanut Protocol, which powers the application, provides a set of SDKs and APIs that allow developers to integrate similar functionality into their own applications.
Target Audience
The primary target audience includes cryptocurrency users seeking a simpler payment method, as well as developers looking to integrate streamlined payment solutions into their dApps or wallets.
Features
- Payment links that replace the need for wallet addresses
- Claim process that allows recipients to connect their wallet to receive funds
- Mobile app integration via Coinbase Wallet and browser extension
- SDKs and APIs for integrating the Peanut Protocol into other applications