Do I need a CPF to use Peanut in Brazil?

No. Peanut accepts passport or national ID verification from any country. You do not need a CPF (Cadastro de Pessoas Fisicas), a Brazilian bank account, or any local documentation.Most Brazilian financial services — including banks, fintechs, and Pix-enabled apps — require a CPF. Foreigners can obtain one, but the process means visiting a Receita Federal office or Brazilian consulate. Peanut removes that barrier entirely: verify with your passport in under 2 minutes and access Pix immediately. Full functionality from day one.

What exchange rate does Peanut use in Brazil?

Peanut converts digital dollars to reais at the market rate — the direct conversion rate that does not go through regulated channels. The primary advantage in Brazil is IOF savings: traditional transfers into and out of Brazil are subject to a tax on financial operations (0.38% inbound, up to 3.5% outbound). Peanut's digital dollar flow is not covered by IOF legislation, so this tax does not apply.The rate locks when you confirm the payment. What you see is what you pay — no slippage, no post-transaction adjustments.

Where can I pay with Peanut in Brazil?

Anywhere Pix is accepted — which is virtually everywhere in Brazil. Over 150 million people use Pix. It works at: Restaurants and cafes Supermarkets and grocery stores Gas stations Online stores Ride-hailing apps (Uber, 99) Hotels and hostels Street vendors and markets If you see a Pix QR code, Peanut works there. Payments settle instantly, 24/7/365 — including weekends and holidays.

How does Peanut save on IOF?

The IOF (Imposto sobre Operacoes Financeiras) applies to traditional cross-border financial transactions — bank transfers, credit card foreign transactions, and remittance services. The tax ranges from 0.38% on inbound transfers to up to 3.5% on outbound transfers.Peanut converts digital dollars to reais directly. This type of transaction is not covered by IOF legislation (as of mid-2025), so the tax does not apply. You get the market rate without the IOF surcharge. This is Peanut's primary cost advantage in Brazil — IOF savings, not exchange rate arbitrage.

Is Peanut faster than Wise or Western Union for Brazil?

It depends on the comparison.Peanut-to-Peanut transfers (between Peanut accounts) are always instant — milliseconds. Sending money to someone who also has Peanut is an internal ledger update.Peanut-to-Pix payments are instant because Pix itself is an instant payment network. The merchant or recipient receives reais in seconds, 24/7/365.Comparison to alternatives: Wise bank transfers to Brazil: 1-2 business days Western Union to Brazil: hours to 1-3 days depending on delivery method Peanut via Pix: instant The speed advantage comes from Pix being an instant network. Peanut is the service that gives foreigners access to that instant network without a CPF.

How much does Peanut cost?

Peanut charges no fees on deposits, Pix payments, or withdrawals. The exchange rate is the rate — there is no separate fee line.All network gas fees are covered by Peanut. Bank deposits via SEPA, ACH, and wire are free on Peanut's end (your bank may charge for outgoing wires). There is no minimum balance, no monthly fee, and no account closure fee.

Can I send money to someone in Brazil who does not have Peanut?

Yes. Create a Peanut Link — a one-time payment link you share via WhatsApp, text, email, or any messaging app. The recipient clicks the link, sees the amount, and can claim it by: Creating a Peanut account (instant) Withdrawing to their Pix account (instant) Withdrawing to their Brazilian bank account They receive reais at the market rate with no IOF. No app required on their end if they just want to cash out.

Pay Like a Local in Brazil

Use Pix without a CPF. Save up to 3.5% — IOF does not apply. Instant payments at 150M+ merchants, no fees.

Get Early Access

Moving money into or out of Brazil has always meant paying the IOF — a tax on financial operations that costs up to 3.5% on outbound transfers and 0.38% on inbound. On top of that, foreigners without a CPF (Brazilian tax ID) are locked out of Pix, the instant payment system that over 150 million Brazilians use every single day. Credit cards technically work, but they trigger IOF and pile on foreign transaction fees that make every purchase more expensive than it should be.

Peanut changes both of those problems. Your digital dollars convert to reais through a path that is not covered by IOF legislation, saving you up to 3.5% on every transaction. And you get full access to Pix without a CPF or Brazilian bank account — just verify with your passport in under 2 minutes. Whether you are a tourist exploring Rio de Janeiro, a digital nomad working from Florianopolis, or sending money to family in Sao Paulo, Peanut lets you pay the way Brazilians pay — instantly, everywhere, at a better rate.

How It Works

1
Deposit from anywhere
Send digital dollars from any exchange or wallet via Solana, Arbitrum, Base, Tron, or Ethereum. Gas fees covered. Or deposit from your bank via SEPA (36 countries), ACH (US), or wire transfer. All deposits are free.
2
Your balance stays in dollars
Your balance is held in digital dollars until you are ready to spend. No fluctuation between deposit and payment.
3
Pay via Pix
Scan any Pix QR code at a restaurant, supermarket, gas station, online store, or street vendor. Your dollars convert to reais at the market rate — so IOF does not apply. No fees from Peanut.
4
Instant settlement
The merchant receives reais instantly in their account. They see a normal Pix payment — Peanut is invisible on their end. Pix works 24/7/365, including weekends and holidays.

Where You Can Pay

Pix

Pix is Brazil's national instant payment system, regulated by the Central Bank of Brazil (Banco Central do Brasil). With over 150 million users, Pix is how Brazilians pay for everything — from a coffee at a street vendor to a hotel stay in the Amazon. It works at restaurants, supermarkets, gas stations, online stores, ride-hailing apps like Uber and 99, hotels, hostels, and street markets. If a merchant accepts payments in Brazil, they almost certainly accept Pix.

How it works with Peanut: Open the app, tap "Pay," and scan the merchant's Pix QR code with your camera. Review the amount in BRL and the exchange rate. Confirm — the payment arrives in seconds. Pix settles 24/7/365 with no business-day restrictions, so you can pay at midnight on a holiday and the merchant still receives reais instantly.

No CPF needed. Pix normally requires a CPF (Cadastro de Pessoas Fisicas) and a Brazilian bank account. Foreigners can technically obtain a CPF, but the process requires visiting a Receita Federal office or a Brazilian consulate — a hassle that most travelers and digital nomads skip entirely. Peanut removes that barrier. Verify with any passport in under 2 minutes and start scanning Pix QR codes immediately. Full Pix functionality from day one, no local paperwork.

Info

You do not need a CPF (Brazilian tax ID) to use Peanut in Brazil. Verify with any passport in under 2 minutes and access Pix from day one.

Full guide: Pay with Pix in Brazil

Exchange Rate: The IOF Advantage

The biggest cost of moving money into or out of Brazil is not the exchange rate itself — it is the IOF (Imposto sobre Operacoes Financeiras), a tax on financial operations that applies to virtually all cross-border transactions:

Outbound transfers: Up to 3.5% IOF on money leaving Brazil
Inbound transfers: 0.38% IOF on money entering Brazil
Credit card foreign transactions: IOF on top of the card's own foreign transaction fees (typically 2-5%)

Traditional bank transfers, credit card payments, wire transfers, and remittance services all trigger IOF. The tax applies to virtually all conventional financial channels.

Peanut's digital dollar flow is not covered by IOF legislation (as of mid-2025). Your digital dollars convert to reais directly at the market rate, so IOF does not apply. For someone moving $5,000 out of Brazil, that means saving roughly $175 in IOF alone. For a digital nomad sending $2,000/month home, the savings add up to over $600 per year.

Rate lock: The rate you see on the confirmation screen is the rate you pay. It locks at the moment of payment — no slippage, no post-transaction adjustments.

No fees. Peanut charges nothing on deposits, Pix payments, or withdrawals. The rate is the rate — there is no separate fee line. Gas fees on network deposits and withdrawals are covered by Peanut.

Compare Peanut's effective cost to other services:

Skip the Waitlist

Who Uses Peanut in Brazil

Tourists

You land in Sao Paulo or Rio de Janeiro. Pix QR codes are everywhere — restaurants, shops, taxis, even street vendors selling acai on the beach. But without a CPF and a Brazilian bank account, you cannot access Pix at all. Your credit card works, but it gets hit with IOF (up to 3.5%) plus a foreign transaction fee of 2-5%. Airport currency exchange booths are even worse, with markups that can cost you 10-15% of your money.

Peanut gives you Pix access from the moment you arrive. Verify with your passport (under 2 minutes), deposit digital dollars or send from your bank via SEPA or ACH, and start scanning QR codes everywhere locals pay. IOF does not apply, you avoid card fees, and you pay at the market rate. From your first coffee to your last cab ride, you are paying like a Brazilian.

Learn more: Send Money to Brazil

Digital Nomads

You are living in Brazil for months, working remotely, earning in dollars or euros. Every time you convert money to reais through your bank or card, IOF eats 0.38-3.5% of the transaction depending on direction. You cannot open a Brazilian bank account without a CPF, and getting a CPF as a non-resident means paperwork, waiting in government offices, and bureaucracy.

Peanut lets you hold your earnings in digital dollars and convert to reais only when you need to pay — at the market rate, with no IOF. Pay rent, buy groceries, eat out, and ride Uber — all through Pix, all without a CPF. Your balance stays in dollars between payments, so you are not holding reais that may lose value against the dollar. Over a year of living in Brazil, saving on IOF on every transaction saves you hundreds or even thousands of dollars.

Remittances

You are sending money to family or friends in Brazil. Traditional remittance services like Western Union charge 5-10% in fees and deliver reais at unfavorable rates. Bank wires take 1-5 business days, cost $25-80 in fees, and trigger IOF on the Brazilian side. PayPal charges 3-4% on cross-border transfers.

With Peanut, you send digital dollars from anywhere in the world. The recipient gets a Peanut Link — a one-time payment link you share via WhatsApp, text, or email. They claim the funds and can pay out via Pix instantly. They receive reais at the market rate with no IOF deducted. No app required on their end if they just want to cash out. Instant, cheaper, and the recipient gets more value from every dollar you send.

Guide: Send Money from the US to Brazil

Cross-Border Travelers (Argentina-Brazil Corridor)

You are traveling between Argentina and Brazil — one of the busiest corridors in South America. Moving money between the two countries through traditional channels means double fees: conversion costs on both sides, IOF in Brazil, and the MEP rate disadvantage in Argentina.

Peanut works in both countries. Deposit once and spend in Argentina via Mercado Pago or in Brazil via Pix. Your balance stays in digital dollars and converts to the local currency at the market rate in each country. One app, two countries, no double conversion. Pay with Mercado Pago in Buenos Aires on Monday, then scan a Pix QR code in Sao Paulo on Thursday — same balance, same simplicity.

Send Money from Argentina to Brazil

Getting Started

Verification

Peanut uses passport or national ID verification — no CPF required, no Brazilian bank account needed. The verification takes under 2 minutes for most users. Provide a photo of your ID and a quick selfie. Once approved (usually instant), you can deposit and start paying via Pix.

Your documents are processed by Persona, a SOC 2 Type 2 certified, GDPR-compliant, ISO 27001-certified provider. Peanut never sees or stores your identity documents — only a yes/no verification result.

Limits for Brazil:

LATAM users: $2,000/month combined across deposits, withdrawals, and Pix payments. Can be increased with additional documentation.
US and EU users: No hard limit. Transactions above $100,000 may trigger additional review.
Foreign users paying via QR in Brazil: $2,000 per transaction limit without local verification.

Deposit Options

Network deposits (global): Send USDC, USDT, or DAI from any exchange or wallet. Supported networks: Solana, Arbitrum, Base, Tron, Avalanche, Polygon, Ethereum. Gas fees covered by Peanut. Seconds to minutes depending on the network.

Bank deposits (36 SEPA countries + US):

SEPA (Europe): Free. EUR-only. 90% of transfers arrive in under 20 minutes.
ACH (US): Free. 1-3 business days.
Wire (global): Free on Peanut's end. Your bank may charge $25-80. 1-5 business days.

All deposits are free from Peanut. No minimum balance. No monthly fees. No account closure fee.

FAQ

Disclaimer

The information on this page is for general informational purposes only and does not constitute tax, legal, or financial advice. Tax treatment of digital asset transactions varies by jurisdiction and may change. Consult a qualified professional for advice specific to your situation.