London, United Kingdom, October twenty fourth, 2024, Chainwire
Peanut launches a beta of the primary self-custodial offramp, permitting customers to instantly money out any token on 20+ EVM chains to their financial institution accounts—with out counting on centralized exchanges. This beta function is being rolled out within the EU and US first.
This new beta function creates an necessary bridge between crypto and fiat. Customers can money out funds from any token on 20+ EVM chains instantly in US {Dollars} or Euros to their checking account, skipping the necessity for CEXes or different custodied options. This works by making a bridge between the blockchains and fiat funds networks like IBAN, BIC, or SWIFT.
Peanut’s key function is texting funds utilizing QR codes or messengers equivalent to WhatsApp, Telegram, electronic mail and so forth. With the self-custodial offramp, recipients can now switch their funds on to their checking account with out the necessity to have a pockets themselves. This breakthrough in crypto accessibility makes transferring cash throughout platforms frictionless and user-friendly. Along with texting funds with out worrying whether or not the recipient makes use of crypto or fiat, customers of self-custodial wallets can now instantly offramp into their checking account with out utilizing a CEX.
“Texting cash is now potential,” mentioned Hugo Montenegro, co-founder of Peanut and a Harvard graduate. “It is a main step towards simplifying crypto for on a regular basis use, that means you may ship stablecoins via channels like WhatsApp, Telegram, E mail and so forth. We use this to pay freelancers on a regular basis.”
For the beta launch of this new function, a reduced charge of $1 + 0.25% applies. The minimal cashout quantity is $10.
About Peanut
Peanut is on the forefront of remodeling crypto funds with its modern absolutely decentralized self-custodial protocol – Peanut Protocol. It permits seamless, cross-chain and offramping transactions utilizing seamless cost hyperlinks. The platform permits customers to simply ship, obtain, cross-chain swap and offramp funds to fiat currencies, making crypto extra accessible than ever. Peanut’s distinctive secret-protected vault good contracts present top-tier safety, making certain that funds are solely launched when a non-public hyperlink is shared by the sender.
“Anybody can now ship funds seamlessly”, mentioned Derek, CTO of Reown.
With assist for over 20 blockchain networks and plans to develop to and , Peanut Protocol is dedicated to simplifying the crypto expertise for everybody. As a non-custodial, permissionless answer, Peanut empowers customers with full management of their digital belongings. Main blockchain initiatives equivalent to Blockscout, WalletConnect, and Clave Pockets are already leveraging Peanut’s know-how to boost their person expertise.
For extra data, customers can go to https://peanut.to/ or contact [email protected]
ContactCo-FounderKonrad CitySquirrel Labs[email protected]
This text was initially revealed on Chainwire
