Peanut Is Coming to Pakistan
Send money to anyone via Raast — Pakistan's instant payment system. No CNIC needed on the sender's side. Get notified.
Pakistan is one of the world's top remittance-receiving countries, with formal flows exceeding $30 billion annually. Millions of Pakistani nationals in the UAE, Saudi Arabia, UK, and US send money home to family regularly. Traditional remittance channels — bank wires, exchange houses, and remittance services — charge 3-7% in combined fees and take hours to days. Raast, Pakistan's state-backed instant payment system launched by the State Bank of Pakistan, is changing domestic payments with real-time transfers via phone number or IBAN. But sending money into Pakistan from abroad still relies on slow, expensive channels.
Peanut will bridge that gap. When we launch in Pakistan, you will be able to send money via Raast to any Pakistani bank account or mobile wallet — instantly, at the market rate. No CNIC (Computerized National Identity Card) needed on the sender's side. For the massive UAE-Pakistan, Saudi Arabia-Pakistan, UK-Pakistan, and US-Pakistan corridors, Peanut will offer a faster and cheaper path to get money to family.
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. With PKR experiencing significant depreciation, holding dollars until the moment of transfer gives you control over timing.
- 3
Send via Raast
Transfer to any Pakistani bank account or wallet using a phone number (Raast ID) or IBAN. Your dollars will convert to PKR at the market rate. No fees from Peanut.
- 4
Instant arrival
The recipient will receive rupees instantly in their bank account or mobile wallet. Raast processes transfers in real time.
What Payment Methods Are Coming
Raast
Raast is Pakistan's first instant payment system, launched by the State Bank of Pakistan in phases starting in 2021. Person-to-person transfers (Phase 2, launched 2022) enable instant transfers using mobile numbers as Raast IDs. The system connects major banks (HBL, UBL, MCB, Meezan Bank, Allied Bank), digital wallets (JazzCash, Easypaisa), microfinance banks, and fintechs.
Raast is modeled on successful systems like UPI (India) and Pix (Brazil) — a state-backed push to modernize Pakistan's payment infrastructure and drive financial inclusion. Person-to-person transfers are growing rapidly. Merchant payments (Phase 3) are under development, which will expand Raast from transfers into retail spending.
How it will work with Peanut: Open the Peanut app, enter the recipient's phone number (Raast ID) or IBAN. Review the amount in PKR and the exchange rate. Confirm — funds arrive instantly.
No CNIC needed (sender side). The CNIC is Pakistan's universal national identity card, required for all banking and financial services within the country. Peanut will accept passport verification from any country for senders — you do not need a CNIC to send money to Pakistan.
Full guide: Pay with Raast in Pakistan
Exchange Rate: What to Expect
The Pakistani rupee has experienced significant depreciation in recent years, operating under a managed float. Exchange rate timing matters — every day of delay in a traditional wire transfer can mean the recipient gets less. Traditional remittance services add 3-7% in fees and exchange rate markups on top of the unfavorable timing.
Peanut will convert digital dollars to rupees at the market rate. The rate locks at the moment you confirm the transfer — so the amount the recipient gets is exactly what you approved. No slippage, no waiting for bank processing while the rate moves.
No fees. Peanut will charge nothing on deposits, Raast transfers, or withdrawals. Gas fees on network transactions are covered.
Compare rates:
Who Will Use Peanut in Pakistan
Remittances (UAE, Saudi Arabia, UK, US)
Pakistan's four largest remittance corridors — UAE, Saudi Arabia, UK, and US — account for the bulk of the $30+ billion in annual inflows. Millions of families depend on these transfers for daily expenses, education, healthcare, and housing. Traditional services charge 3-7% and take hours to days. For a family receiving $500/month, a 5% fee means $25 lost every month — $300 per year.
Peanut will let you send from the UAE, Saudi Arabia, UK, US, or anywhere else directly to a Raast ID (phone number) or IBAN. The recipient gets rupees instantly at the market rate. No middleman markup, no multi-day wait. For the Pakistan diaspora, this means more money reaches family — faster.
Employers Paying Pakistani Contractors
Remote work with Pakistani freelancers and contractors is growing. Paying through PayPal (where available), bank wires, or other services is slow and expensive. Peanut will let employers send dollars that arrive as rupees via Raast — instantly, at the market rate. The contractor gets paid faster and keeps more of what they earn.
Info
Get Notified
Peanut is not yet live for spending in Pakistan, but you can sign up now to be notified when Raast integration launches. When live, you will send money to any Pakistani bank account or wallet — instantly, at the market rate.
Today, you can already use Peanut to deposit and withdraw digital dollars in Pakistan via supported networks like Solana and Arbitrum. Raast integration is coming next.
Verification: You will verify with a passport or national ID card from any country. No CNIC required on the sender's side. Under 2 minutes. Powered by Persona (SOC 2 Type 2, GDPR, ISO 27001). Peanut never sees or stores your documents.
