Send Money from Mexico to Brazil
Fund Peanut from your Mexican bank via SPEI or send crypto — both are free. Your recipient spends via Pix with no CPF. Sidestep IOF on cross-border flow.
Send Money from Mexico to Brazil — Fastest & Cheapest Way
Send money from Mexico to Brazil in seconds. Fund Peanut from your Mexican bank via SPEI in MXN (free, settles in seconds, 24/7) or send USDC/USDT on Solana, Arbitrum, Base, Polygon, Tron, or Ethereum. Your recipient in Brazil spends instantly via Pix QR or withdraws to any Brazilian bank — no CPF or local bank account required on their side. Because the cross-border leg moves on stablecoin rails, IOF (Brazil's tax on FX, up to 3.5% on outbound transfers) does not apply.
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Why Peanut Is the Best Way to Send from Mexico to Brazil
Sidestep IOF — Up to 3.5%
Moving money into or out of Brazil through traditional channels normally triggers the Tax on Financial Operations (IOF): 0.38% on inbound transfers and up to 3.5% on most outbound transfers. Bank wires, credit card foreign transactions, and remittance services all pay it.
Digital dollar transactions are not covered by IOF legislation. Peanut routes the cross-border leg through USDC, so the IOF that bites traditional MXN → BRL transfers does not apply to this corridor. On a $1,000 transfer, that's up to $35 in IOF avoided — before exchange-rate differences enter the picture. (See the disclaimer at the bottom — this is not tax advice.)
Cripto Dólar Rate to BRL
The conversion from USDC into BRL happens at the cripto dólar rate — a direct stablecoin-to-real market conversion. Combined with the IOF you don't pay, your recipient ends up with meaningfully more reais than a bank wire or remittance service would deliver.
No Per-Operation Fees
There is no Peanut transaction fee on top of any leg. SPEI deposits from Mexico are free. Crypto deposits are free — Peanut covers gas on the receiving side. Sending Peanut-to-Peanut is free. Your recipient pays nothing to receive funds or to spend via Pix.
Compare that to Western Union ($5–15 per transfer plus a wide rate markup) or international wire ($25–45 flat plus correspondent-bank deductions).
Instant on Both Ends
SPEI in Mexico settles in seconds, 24/7/365 — no business-day cut-off. Once funds land in Peanut, Pix in Brazil settles in seconds, 24/7/365 as well. The whole corridor — from your CLABE to your recipient's Pix QR — can complete in under a minute.
No Local Account Needed for the Recipient
Your recipient in Brazil doesn't need a CPF or a Brazilian bank account to pay with Pix through Peanut. They verify with passport or national ID in under 2 minutes and can spend immediately. KYC is required to operate fiat rails and Pix payments; crypto-only flows don't require KYC.
Best Way to Deposit from Mexico
You have two free deposit paths from Mexico. Pick the one that matches where your money already is.
Option 1 (Recommended): SPEI from your Mexican bank — MXN
If your money is in a Mexican bank or fintech account (BBVA, Santander, Banorte, Citibanamex, Nu México, Klar, Hey Banco, Albo, etc.), this is the cleanest path. Peanut generates a unique CLABE for your account. You send a normal SPEI transfer in MXN from your banking app, including the reference Peanut shows you. Funds settle in seconds and Peanut converts MXN to USDC for the cross-border leg.
- Speed: Seconds — SPEI is real-time, 24/7/365
- Fee from Peanut: Free
- Currency: MXN (CLABE, 18-digit)
- Minimum: ~50 MXN (about $3 USD equivalent)
- What you'll need: Mexican bank or fintech account; verified Peanut account (passport or national ID, under 2 minutes for 90% of users)
Option 2: Crypto deposit — USDC or USDT
If your money is on an exchange (Bitso, Binance, Coinbase) or in a self-custodial wallet, send USDC or USDT on Solana, Arbitrum, Base, Polygon, Tron, or Ethereum. Peanut generates a unique deposit address per network. Arrival is typically under a minute on L2s and Solana; Ethereum mainnet is slower and pricier on the sender side.
- Speed: Minutes (network-dependent)
- Fee from Peanut: Free — gas covered on the receiving side
- KYC: Not required for crypto-only flows; required once you spend via Pix
See the Polygon deposit guide, Solana deposit guide, and Tron deposit guide for step-by-step instructions.
How It Works
- 1
Sign up and get verified
Passport or national ID verification takes under 2 minutes for 90% of users. KYC is required for fiat operations and Pix payments.
- 2
Deposit from Mexico
Send a SPEI transfer in MXN to your Peanut CLABE (seconds), or send USDC/USDT on Solana, Arbitrum, Base, Polygon, Tron, or Ethereum (minutes). Both are free.
- 3
Recipient receives instantly
Funds land in their Peanut account in milliseconds.
- 4
Recipient spends in Brazil
Via Pix QR payments, Pix transfers, or withdraw to any Brazilian bank.
If you're sending to yourself (a Mexican traveler or remote worker in Brazil), steps 3–4 collapse: deposit and spend directly.
Where the Money Goes
Pix QR Payments
Pix is the default payment method in Brazil — over 150 million users, accepted virtually everywhere. Pay at restaurants, supermarkets, gas stations, online stores, ride-hailing (Uber, 99), hotels, hostels, street vendors, and markets by scanning a Pix QR code. The merchant receives BRL instantly — they see a normal Pix payment regardless of how you funded it.
Just scan, review the amount in BRL, and confirm. Pix is instant, 24/7/365.
See how Pix payments work with Peanut
Bank Withdrawal
Withdraw to any Brazilian bank account. The recipient doesn't need to own the account they're withdrawing to. Processing typically completes the same day on Pix-enabled rails.
How Much Does It Cost?
Cost breakdown:
- SPEI deposit from Mexico: Free
- Crypto deposit: Free (gas covered)
- Spending via Pix: Free
- IOF on the cross-border leg: $0 (digital dollar transactions are not covered by IOF)
- Peanut transaction fee: None — the displayed rate is all-in
One rate, all-in. However you fund — MXN via SPEI or digital dollars — the cross-border conversion runs behind the scenes through our banking partners, and you see one locked rate at the moment of payment. No separate line items, no added Peanut fee.
Comparison table (sending $1,000 from Mexico to Brazil):
| Provider | IOF Cost | Exchange Rate | Fees | Recipient Gets | You Save with Peanut |
|---|---|---|---|---|---|
| Peanut (SPEI → Pix) | $0 (not subject to IOF) | Cripto dólar (~5.8 BRL/USD) | $0 | ~5,720 BRL | — |
| Peanut (Crypto → Pix) | $0 (not subject to IOF) | Cripto dólar (~5.8 BRL/USD) | $0 | ~5,755 BRL | ~35 BRL |
| Binance P2P | $0 (not subject to IOF) | Peer-negotiated (~5.6 BRL/USD) | 0.15–0.35% maker fee + spread | ~5,560 BRL | ~160–195 BRL |
| Bank transfer (MXN → BRL) | ~$3.50 (0.38% inbound) | Market (~5.7 BRL/USD) | $15–30 | ~5,370 BRL | ~350–385 BRL |
| Wire transfer | ~$3.50 (0.38% inbound) | Market (~5.7 BRL/USD) | $25–45 | ~5,350 BRL | ~370–405 BRL |
Note: Exchange rates fluctuate. IOF rates as of mid-2025. Outbound IOF (up to 3.5%) would apply if your recipient later sent funds back out of Brazil via traditional rails.
Common Use Cases: Mexico to Brazil
Cross-Border Travelers
Moving between Mexico and Brazil for work or lifestyle? Peanut gives you one balance that works in both countries. Top up from your Mexican bank via SPEI whenever you need to, hold dollars between trips, and convert only when you spend. Pay rent, utilities, and groceries in São Paulo or Rio at the cripto dólar rate without juggling a Brazilian bank account, a CPF, or a stack of FX fees.
Sending Money to Family
Send money from Mexico to family in Brazil instantly. Fund the transfer with a SPEI transfer from your Mexican bank account in seconds, or send USDC if your money already lives on an exchange. Your family receives it in their Peanut account and pays bills, buys groceries, or sends Pix to others — no IOF on the cross-border leg, no Western Union fees, no multi-day wait.
FAQ
How much does it cost to send money from Mexico to Brazil with Peanut?+
There is no per-operation Peanut fee on any leg. SPEI and crypto deposits are free, sending is free, and Pix spending is free. The cross-border leg avoids IOF entirely. The rate you see at confirmation is all-in and locked — one number however you fund, with no separate Peanut fee.
How long does it take?+
SPEI deposits settle in seconds, 24/7/365. Crypto deposits take minutes (network-dependent). Peanut-to-Peanut is always instant (milliseconds). Pix to Brazilian merchants and bank accounts is instant, 24/7/365. End-to-end from your Mexican bank to your recipient's Pix QR can take under a minute.
How do I deposit from Mexico?+
Two free options. (1) SPEI: Peanut gives you a CLABE; send MXN from your Mexican bank app with the reference shown — settles in seconds. (2) Crypto: send USDC or USDT from Bitso, Binance, Coinbase, or any wallet on Solana, Arbitrum, Base, Polygon, Tron, or Ethereum — arrives in minutes. Peanut covers gas.
Does the recipient need a CPF or Brazilian bank account?+
No. The recipient verifies with passport or national ID in under 2 minutes and can immediately spend via Pix. No CPF, no Brazilian bank account, no residency required for day-to-day Pix payments.
What is IOF and why doesn't it apply to Peanut?+
IOF (Imposto sobre Operações Financeiras) is Brazil's tax on financial operations — 0.38% on inbound transfers and up to 3.5% on most outbound transfers (as of mid-2025). Because Peanut routes the cross-border leg through USDC and digital dollar transactions are not covered by IOF legislation, IOF does not apply to this corridor. See the disclaimer below — this is not tax advice.
What exchange rate does Peanut use?+
USDC → BRL converts at the cripto dólar rate — a direct market conversion. When you fund via SPEI in MXN, there's an additional MXN → USDC conversion handled by our banking partners. The rate is all-in and locked at the moment of payment, with no separate Peanut fee.
Is Peanut cheaper than Binance P2P for Mexico to Brazil?+
Yes. Binance P2P has no direct Pix spending integration — you trade digital dollars with strangers and then need a separate tool to spend in Brazil. Peanut bundles deposit, conversion, and Pix spending in one flow with a predictable cripto dólar rate, instead of peer-negotiated spreads and manual settlement.
Can I send to myself as a traveler or remote worker in Brazil?+
Yes. Many users deposit from Mexico via SPEI or crypto and spend directly via Pix in Brazil. No second recipient required.
Do I need KYC?+
Yes for fiat operations and Pix payments — passport or national ID verification takes under 2 minutes for 90% of users. Crypto-only flows (deposit + withdrawal to a wallet) do not require KYC.
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.
