Peanut Is Coming to Singapore
Pay via PayNow and SGQR at merchants across Singapore — no NRIC or FIN needed. Sign up to get notified.
Singapore is one of the world's most advanced digital payment markets. PayNow — built on the FAST (Fast and Secure Transfers) rail — enables real-time payments by phone number or NRIC across every major bank. SGQR unifies multiple payment schemes into a single QR label at merchants, so hawker centres, retail shops, restaurants, and taxis all accept digital payments seamlessly. But registering for PayNow requires a Singapore bank account, which requires either an NRIC (for citizens and permanent residents) or a FIN (Foreign Identification Number for work/student pass holders). Short-term visitors and travelers are locked out.
Peanut will change that. When we launch in Singapore, you will be able to pay via PayNow at merchants across the city-state — without an NRIC, without a FIN, and without a Singapore bank account. Just verify with your passport. Your digital dollars will convert to Singapore dollars at the market rate, and you will access the same payment infrastructure that 5.9 million residents use daily.
How It Will Work
- 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 (Europe), ACH (US), or wire transfer. All deposits are free.
- 2
Your balance stays in dollars
Your balance will be held in digital dollars until you spend. The SGD is one of Asia's most stable currencies, but you still control when you convert.
- 3
Pay via PayNow
Scan an SGQR code at any merchant or send to a phone number via PayNow. Your dollars will convert to SGD at the market rate. No fees from Peanut.
- 4
Instant settlement
The recipient or merchant will receive Singapore dollars instantly. PayNow transactions settle in real time, 24/7.
What Payment Methods Are Coming
PayNow
PayNow is Singapore's national peer-to-peer and merchant payment system, operated by the Association of Banks in Singapore (ABS) and built on the FAST rail. It links payments to phone numbers or NRIC/FIN numbers, making transfers fast and frictionless. QR code payments through SGQR — a unified standard that consolidates multiple payment schemes into one label — are accepted at merchants throughout Singapore.
PayNow is integrated into virtually every bank app in the country: DBS, OCBC, UOB, GrabPay, and other participating institutions. The coverage extends from hawker centres and food courts to retail shops, malls, restaurants, cafes, online merchants, and even taxis and government payments.
Singapore has also established cross-border payment links with Thailand (PromptPay), India (UPI), and Malaysia (DuitNow), positioning PayNow at the center of a growing Southeast Asian real-time payment network.
How it will work with Peanut: Open the Peanut app, scan an SGQR code at the merchant, or enter a recipient's phone number for person-to-person payments. Review the amount in SGD and the exchange rate. Confirm — payment settles instantly.
No NRIC or FIN needed. PayNow registration normally requires a Singapore bank account, which requires an NRIC or FIN. Peanut will accept passport verification from any country — removing the identity barrier for tourists, business travelers, and short-term visitors.
Full guide: Pay with PayNow in Singapore
Exchange Rate: What to Expect
The Singapore dollar is one of Asia's most stable currencies, managed by the Monetary Authority of Singapore. This stability means exchange rate swings are less dramatic than in many other markets. Still, credit cards and traditional transfer services add markups of 2-4% through foreign transaction fees and unfavorable conversion rates.
Peanut will convert digital dollars to SGD at the market rate — a direct path without the markup layers. For a business traveler spending SGD 5,000 in a week, avoiding a 3% card markup means saving SGD 150 per trip.
Rate lock: The rate will lock at the moment of payment. No slippage, no adjustments after the fact.
No fees. Peanut will charge nothing on deposits, PayNow payments, or withdrawals. Gas fees on network transactions are covered.
Compare rates:
Who Will Use Peanut in Singapore
Cross-Border Travelers (UK, Australia, Malaysia)
Singapore is a major hub for travelers from the UK, Australia, and neighboring Malaysia. Whether you are on a business trip, a layover, or spending a few weeks exploring the city-state, accessing PayNow without a local bank account has always been the friction point. Cards work everywhere, but they silently add 2-4% in conversion costs.
Peanut will let you pay at hawker centres, shops, and restaurants via SGQR — the same way locals pay. No need to exchange currency at a bureau, no need to open a bank account, no need to carry large amounts of cash in a city that has gone overwhelmingly digital.
Cross-Border Travelers (Malaysia-Singapore)
The Malaysia-Singapore corridor is one of the busiest in the world. Hundreds of thousands of people cross the border daily. With Peanut, you will be able to hold one balance in digital dollars and spend in both countries as their integrations launch — DuitNow QR in Malaysia, PayNow SGQR in Singapore. One app, two countries, one deposit.
Guide: Send Money to Singapore
Info
Get Notified
Peanut is not yet live for spending in Singapore, but you can sign up now to be notified when PayNow integration launches. When live, you will pay at merchants across Singapore via SGQR — without local ID, without a bank account.
Today, you can already use Peanut to deposit and withdraw digital dollars in Singapore via supported networks like Solana and Arbitrum. PayNow spending is coming next.
Verification: You will verify with a passport or national ID card from any country. No NRIC or FIN required. Under 2 minutes for most users. Powered by Persona (SOC 2 Type 2, GDPR, ISO 27001). Peanut never sees or stores your documents.
FAQ
When will Peanut launch in Singapore?+
Peanut is working on integrating PayNow for payments in Singapore. We do not have an exact launch date. Sign up to get notified. You can already deposit and withdraw digital dollars via supported networks.
What payment methods will Peanut support in Singapore?+
Peanut will integrate with PayNow, Singapore's national real-time payment system. PayNow connects all major banks (DBS, OCBC, UOB) and supports SGQR — the unified QR standard accepted at merchants throughout Singapore. Phone-number-based person-to-person transfers will also be supported.
How do I get early access to Peanut in Singapore?+
Sign up at peanut.me to be notified when PayNow integration goes live. Create your account now — it will unlock spending when Singapore launches.
Do I need an NRIC or FIN to use Peanut in Singapore?+
No. Peanut will accept passport verification from any country. You will not need an NRIC (National Registration Identity Card), FIN (Foreign Identification Number), or a Singapore bank account. This makes Peanut accessible to tourists, business travelers, and short-term visitors who cannot register for PayNow directly.
Is Singapore expensive for foreign transaction fees?+
Card payments in Singapore typically add 2-4% in foreign transaction fees and exchange rate markups, though the SGD's stability means you do not face the wild rate swings seen in some other markets. Peanut will convert at the market rate with no fees — saving you that 2-4% on every transaction. Over a week-long business trip, the savings add up quickly.
Will Peanut work at hawker centres?+
If the hawker stall displays an SGQR code, Peanut will work there. SGQR adoption at hawker centres is widespread in Singapore, especially at popular centres across the city. The digital payment culture in Singapore is strong — QR payments are the norm, not the exception.
