Peanut releases prompt offramp

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 essential 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 resembling WhatsApp, Telegram, e-mail and so on. 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 doable,” mentioned Hugo Montenegro, co-founder of Peanut and a Harvard graduate. “This can be a main step towards simplifying crypto for on a regular basis use, which means you may ship stablecoins by way of channels like WhatsApp, Telegram, E-mail and so on. We use this to pay freelancers on a regular basis.”

For the beta launch of this new function, a reduced price of $1 + 0.25% applies. The minimal cashout quantity is $10.

About Peanut

Peanut is on the forefront of remodeling crypto funds with its revolutionary absolutely decentralized self-custodial protocol – Peanut Protocol. It allows seamless, cross-chain and offramping transactions utilizing seamless fee 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 sensible contracts present top-tier safety, guaranteeing that funds are solely launched when a personal 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 resolution, Peanut empowers customers with full management of their digital belongings. Main blockchain tasks resembling Blockscout, WalletConnect, and Clave Pockets are already leveraging Peanut’s expertise to reinforce their consumer expertise.

For extra data, customers can go to https://peanut.to/ or contact press@peanut.to

ContactCo-FounderKonrad CitySquirrel Labspress@peanut.to

This text was initially revealed on Chainwire