Peanut Is Coming to Kenya
Send money to anyone via M-Pesa — Kenya's dominant mobile money system with 550K+ merchants. No local ID needed. Get notified.
Kenya pioneered mobile money. M-Pesa has over 90% mobile money penetration, processing billions of dollars in transactions annually. From taxi rides to groceries to rent, M-Pesa is how Kenya pays. Over 550,000 merchants accept M-Pesa payments, and the agent network for cash-in/cash-out is ubiquitous — more agents than bank branches and ATMs combined. Kenya receives roughly $4 billion per year in remittances, primarily from the UK, US, and Canada. But sending money to Kenya through traditional services means 5-10% in combined fees and exchange rate markups, with delivery taking hours to days.
Peanut will change that. When we launch in Kenya, you will be able to send money directly to any M-Pesa account — instantly, at the market rate. No local ID needed on the sender's side. For the Kenyan diaspora in the UK and US, Peanut will offer a faster, cheaper way to get money to family. For tourists visiting Nairobi, Mombasa, or the Masai Mara, it will mean access to M-Pesa's vast merchant network from day one.
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 send. Convert to Kenyan shillings only when you are ready.
- 3
Send via M-Pesa
Transfer to any M-Pesa account using a phone number, or pay a merchant using their till number. Your dollars will convert to KES at the market rate. No fees from Peanut.
- 4
Instant arrival
The recipient will receive shillings instantly in their M-Pesa account. They can spend at merchants, pay bills, or cash out at any M-Pesa agent.
What Payment Methods Are Coming
M-Pesa
M-Pesa is Kenya's dominant mobile money system, operated by Safaricom (a Vodafone subsidiary). Launched in 2007, it is widely credited with revolutionizing mobile money globally. With 90%+ penetration, M-Pesa processes more transactions than all other digital payment methods combined in Kenya.
M-Pesa is used for person-to-person transfers, merchant payments (Lipa Na M-Pesa), bill payments (electricity, water, internet), and salary disbursements. Over 550,000 merchants accept M-Pesa payments. The agent network provides cash-in/cash-out services across the country — even in rural areas far from bank branches.
M-Pesa works via USSD/SMS — no smartphone or internet connection required for basic transactions. The M-Pesa app is available for smartphones with additional features.
How it will work with Peanut: Open the Peanut app, enter the recipient's M-Pesa phone number or a merchant's till number. Review the amount in KES and the exchange rate. Confirm — funds arrive instantly.
No local ID needed (sender side). Peanut will accept passport verification from any country. You do not need a Kenyan National ID to send money to Kenya via Peanut.
Full guide: Pay with M-Pesa in Kenya
Exchange Rate: What to Expect
The Kenyan shilling has experienced gradual depreciation against the USD over the past decade. The Central Bank of Kenya manages a dirty float, and rates can shift during periods of dollar scarcity. Traditional remittance services charge 5-10% in combined fees and exchange rate markups on the UK-Kenya and US-Kenya corridors. Currency exchange offices in Nairobi and Mombasa offer competitive rates, but they require a physical visit.
Peanut will convert digital dollars to shillings at the market rate — a direct path that avoids the markup layers of traditional services. For someone sending $500/month to family in Kenya, avoiding a 7% fee saves $420 per year.
Rate lock: The rate will lock at the moment of transfer. No slippage.
No fees. Peanut will charge nothing on deposits, M-Pesa transfers, or withdrawals. Gas fees are covered.
Compare rates:
Who Will Use Peanut in Kenya
Remittances (UK and US)
Kenya's diaspora is highly engaged — remittance inflows of roughly $4 billion per year support families across the country. The UK and US are the largest source countries. Traditional services like Western Union and MoneyGram charge 5-10% on these corridors. Even Wise, while cheaper, takes 1-2 business days for bank transfers.
Peanut will let you send from the UK or US directly to an M-Pesa account — instantly, at the market rate. The recipient gets shillings in their M-Pesa wallet and can spend, pay bills, or cash out at any of the tens of thousands of M-Pesa agents across Kenya. More money reaches family, faster.
Tourists
Kenya is a major tourist destination — Nairobi, Mombasa, the Masai Mara, Mount Kenya, and Lamu attract visitors from around the world. M-Pesa is accepted at restaurants, supermarkets (Naivas, Carrefour, Quickmart), matatus (public transport), pharmacies, and tour operators. Visitors can register for M-Pesa with a Kenyan SIM card (available at the airport with a passport), but the process takes time and requires a local phone number.
Peanut will give you M-Pesa access without needing a Kenyan SIM or going through the local registration process. Pay at merchants, tip your safari guide, or settle a restaurant bill — all via M-Pesa.
Info
Get Notified
Peanut is not yet live for spending in Kenya, but you can sign up now to be notified when M-Pesa integration launches. When live, you will send money to any M-Pesa account — instantly, at the market rate.
Today, you can already use Peanut to deposit and withdraw digital dollars in Kenya via supported networks like Solana and Arbitrum. M-Pesa integration is coming next.
Verification: You will verify with a passport or national ID card from any country. Under 2 minutes. Powered by Persona (SOC 2 Type 2, GDPR, ISO 27001). Peanut never sees or stores your documents.
