Peanut Is Coming to Mexico
Pay merchants with CoDi, send money to anyone in Mexico, and get better rates than your card — no CURP required.
Mexico is one of the most important money corridors in the world. Every year, more than $63 billion flows into the country from the United States alone, and millions of tourists, digital nomads, and remote workers move through Mexico City, Playa del Carmen, Oaxaca, and Puerto Vallarta. Yet paying like a local remains frustratingly difficult if you do not have a CURP or a Mexican bank account. Peanut will change that.
When Peanut launches in Mexico, you will be able to send money to anyone in the country and pay merchants through CoDi — Mexico's central bank-backed QR payment system — all without needing a CURP, an RFC, or a local bank account. Your balance will sit in digital dollars until the moment you pay, converting to Mexican pesos at the real market rate.
How It Will Work
- 1
Deposit funds
Add money to your Peanut balance from your bank via SEPA, ACH, or wire transfer — or send digital dollars from any major exchange. All deposits are free.
- 2
Your balance stays in digital dollars
Your funds will be held in digital dollars, protecting your balance from currency fluctuations until you are ready to spend.
- 3
Pay locally with CoDi
When Peanut launches in Mexico, you will scan CoDi QR codes at participating merchants. Your digital dollars will convert to pesos at the moment of payment.
- 4
Send money to anyone
Share a Peanut Link with anyone in Mexico. They will be able to claim the funds and withdraw to their bank account or wallet — no Peanut account required on their end.
What Payment Methods Are Coming
CoDi (Cobro Digital)
CoDi is Mexico's central bank-backed digital payment system, developed by Banxico and built on top of SPEI — the country's established real-time gross settlement infrastructure. CoDi uses QR codes and NFC to enable instant, fee-free merchant payments. With 18.4 million validated accounts and growing, CoDi represents Mexico's push toward a cashless economy.
When Peanut integrates CoDi, you will be able to scan QR codes at participating merchants across Mexico. The merchant will receive pesos instantly through the SPEI network, and they will see a normal CoDi payment — they will not know Peanut is involved. No CURP, no RFC, no Mexican bank account needed on your end.
CoDi is accepted at a growing number of small businesses, restaurants, cafes, and market vendors. While adoption is still expanding compared to cash and card payments, the central bank backing means merchant coverage will continue to grow.
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What to Expect
Mexico's peso has been relatively stable compared to other Latin American currencies, supported by nearshoring trends and high Banxico interest rates. Credit card rates in Mexico typically track the interbank rate closely, but card companies still add markups and foreign transaction fees that can range from 1% to 3% on top of the exchange rate.
Peanut will convert your digital dollars to pesos at the real market rate at the moment of payment. No hidden markups, no foreign transaction fees, no surprise charges on your statement. The rate locks when you confirm — what you see is what you pay.
For the US-Mexico corridor specifically, traditional remittance providers charge 1-4% with multi-day settlement times. Peanut will offer instant delivery at a better rate, with no fees on either end.
Who Will Use Peanut in Mexico
Sending Money to Family
The US-Mexico remittance corridor is the largest in the world. If you send money to family in Mexico, you know the pain: fees eat into every transfer, exchange rates are marked up, and the money takes days to arrive. With Peanut, you will send dollars and your family will receive pesos instantly — at the real rate, with no fees on either end. They will claim funds through a Peanut Link and withdraw to their bank account.
Tourists
Mexico welcomes millions of visitors every year. Whether you are exploring Mexico City's food scene, relaxing on the beaches of the Riviera Maya, or hiking in Oaxaca, paying with a foreign credit card means markups and foreign transaction fees on every purchase. Peanut will let you scan CoDi QR codes and pay in pesos at the real rate — no CURP or bank account required.
Digital Nomads
Mexico City, Playa del Carmen, Oaxaca, and Puerto Vallarta are among the most popular digital nomad destinations in the world. If you are living in Mexico on a temporary resident visa or tourist entry, getting access to local payment systems usually requires a CURP and a Mexican bank account — a process that can take weeks. Peanut will give you access to CoDi from day one, with just your passport.
Get Notified
Peanut is not yet live for local spending in Mexico, but you can already deposit and withdraw digital dollars today. When CoDi integration launches, you will be among the first to pay like a local.
Sign up now to get notified when Peanut launches local spending in Mexico. Verification takes under two minutes with your passport or national ID — no CURP required.
