Peanut has raised $1.5 million in a pre-seed round to develop a cross-border digital dollar transfer platform that requires no technical knowledge.
Peanut's Goals and Capabilities
Peanut aims to create a platform allowing users to send stablecoins worldwide without understanding digital currencies. The platform operates across more than 20 networks, enabling users to send and receive digital dollars with direct conversion to U.S. Dollars or Euros in their bank accounts.
How the Payment System Works
Peanut has developed a URL and QR code payment system that works on popular communication platforms like WhatsApp, Telegram, email, and SMS. Users can send money to anyone, regardless of whether the recipient uses digital dollars or traditional banking services.
Peanut's Technology and Development Prospects
Peanut's technology uses smart contracts to ensure security and self-custody. It has already attracted attention from financial tech companies like Blockscout, WalletConnect, and Clave Wallet. Co-founder Konrad Urban highlights the platform's potential impact in regions like Argentina, where improved access to dollars is needed.
Peanut continues to expand its services and plans support for additional platforms beyond the current 20 supported networks.
