Peanut Launches Beta of Self-Custodial Offramp

London, United Kingdom, October 24th, 2024, Chainwire

Peanut has launched a beta version of the first self-custodial offramp, enabling users to cash out any token on 20+ EVM chains directly to their bank accounts without needing centralized exchanges. Initially available in the EU and US, this feature bridges crypto and fiat, allowing users to convert funds from various tokens into US Dollars or Euros directly.

The self-custodial offramp facilitates seamless transfers using QR codes or messengers like WhatsApp and Telegram. Recipients can receive funds directly to their bank accounts, regardless of whether they have a crypto wallet, making transactions user-friendly and accessible. Hugo Montenegro, Peanut's co-founder, emphasized, "Texting money is now possible," highlighting the significance of this feature for everyday users.

During the beta phase, there is a discounted fee of $1 plus 0.25%, with a minimum cashout amount set at $10.

About Peanut

Peanut is pioneering the transformation of crypto payments through its decentralized self-custodial protocol – Peanut Protocol. This platform enables users to send, receive, swap, and convert funds to fiat currencies effortlessly. Security is ensured through secret-protected vault smart contracts, allowing funds to be released only when the sender shares a private link.

Peanut Protocol supports over 20 blockchain networks, with plans to include Bitcoin and Solana in the future. As a non-custodial, permissionless solution, it grants users complete control over their digital assets. Notable blockchain projects like Blockscout, WalletConnect, and Clave Wallet are already utilizing Peanut’s technology to enhance user experience.

For more information, visit Peanut's website or contact press@peanut.to.

Contact
Co-Founder
Konrad Urban
Squirrel Labs
press@peanut.to

This article was originally published on Chainwire.