London, United Kingdom, October 24th, 2024,
Chainwire
Peanut launches a beta of the first self-custodial
offramp, allowing users to directly cash out any token on 20+ EVM
chains to their bank accounts—without relying on centralized
exchanges. This beta feature is being rolled out in the EU and US
first.
This new beta feature creates an important bridge between crypto
and fiat. Users can cash out funds from any token on 20+ EVM chains
directly in US Dollars or Euros to their bank account, skipping the
need for CEXes or other custodied solutions. This works by creating
a bridge between the blockchains and fiat payments networks like
IBAN, BIC, or SWIFT.
Peanut’s key feature is texting funds using QR codes or
messengers such as WhatsApp, Telegram, email etc. With the
self-custodial offramp, recipients can now transfer their funds
directly to their bank account without the need to have a wallet
themselves. This breakthrough in crypto accessibility makes
transferring money across platforms frictionless and user-friendly.
In addition to texting funds without worrying whether the recipient
uses crypto or fiat, users of self-custodial wallets can now
directly offramp into their bank account without using a
CEX.
“Texting money is now possible,” said Hugo Montenegro,
co-founder of Peanut and a Harvard graduate. “This is a major step
toward simplifying crypto for everyday use, meaning you can send
stablecoins through channels like WhatsApp, Telegram, Email etc. We
use this to pay freelancers all the time.”
For the beta launch of this new feature, a discounted fee of $1
+ 0.25% applies. The minimum cashout amount is $10.
About Peanut
Peanut is at the forefront of transforming crypto payments with
its innovative fully decentralized self-custodial protocol - Peanut
Protocol. It enables seamless, cross-chain and offramping
transactions using seamless payment links. The platform allows
users to easily send, receive, cross-chain swap and offramp funds
to fiat currencies, making crypto more accessible than ever.
Peanut’s unique secret-protected vault smart contracts provide
top-tier security, ensuring that funds are only released when a
private link is shared by the sender.
“Anyone can now send funds seamlessly”, said Derek, CTO of
Reown.
With support for over 20 blockchain networks and plans to expand
to Bitcoin and Solana, Peanut Protocol is committed to simplifying
the crypto experience for everyone. As a non-custodial,
permissionless solution, Peanut empowers users with full control of
their digital assets. Leading blockchain projects such as
Blockscout, WalletConnect, and Clave Wallet are already leveraging
Peanut’s technology to enhance their user experience.
For more information, users can visit https://peanut.to/ or contact press@peanut.to
Contact
Co-Founder
Konrad
Urban
Squirrel
Labs
press@peanut.to