Peanut Is Coming to the Philippines
Pay with GCash, send money to family, and skip the remittance fees — no TIN required.
The Philippines is one of the world's largest remittance markets. Every year, approximately $38 billion flows into the country from Overseas Filipino Workers (OFWs) in the United States, Saudi Arabia, the UAE, the United Kingdom, and beyond. On the receiving end, families lose billions to transfer fees and unfavorable exchange rates — money that should be going to school tuition, groceries, and daily expenses.
Meanwhile, GCash has transformed how Filipinos pay. With over 40 million active users, GCash QR codes are everywhere — at Jollibee, 7-Eleven, grocery stores, and even neighborhood sari-sari shops. But GCash requires a Philippine phone number and local verification, leaving foreigners and OFWs abroad without direct access to the country's dominant payment system.
Peanut will change that. When local spending launches in the Philippines, you will be able to pay through GCash and send money to anyone in the country — without needing a TIN, a Philippine phone number, or a local bank account. Your digital dollar balance will convert to Philippine 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 until you are ready to spend or send. No exposure to peso fluctuations while your money sits in your account.
- 3
Pay with GCash
When Peanut launches local spending in the Philippines, you will scan GCash and QR Ph QR codes at merchants across the country. Your digital dollars will convert to pesos at the moment of payment.
- 4
Send money to anyone
Share a Peanut Link with anyone in the Philippines. They will claim the funds and withdraw to their GCash wallet or bank account — no Peanut account required on their end.
What Payment Methods Are Coming
GCash
GCash is the Philippines' leading mobile wallet, operated by Globe Fintech Innovations (Mynt). With over 40 million active users, it is the dominant way Filipinos pay — at convenience stores, fast food chains, supermarkets, online shops, and an increasing number of smaller merchants. GCash also handles bill payments, remittance cash-in, ride-hailing, and online checkout.
GCash is part of the QR Ph interoperability standard established by the Bangko Sentral ng Pilipinas (BSP), which means GCash QR codes can be scanned by other participating apps, creating a unified payment ecosystem across the Philippines.
When Peanut integrates GCash, you will be able to scan QR codes at merchants nationwide — from Jollibee to 7-Eleven, from Lazada to Grab. The merchant will see a normal GCash or QR Ph payment. No TIN required, no Philippine phone number needed, no local bank account on your end.
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What to Expect
The Philippine peso operates under a managed float by the Bangko Sentral ng Pilipinas. It has been relatively stable compared to other Southeast Asian currencies, supported by strong remittance inflows. However, credit cards from abroad incur foreign transaction fees of 1-3% plus the card network's exchange rate markup.
Peanut will convert your digital dollars to Philippine pesos at the real market rate. The rate locks at the moment of payment — what you see is what you pay. No hidden markups, no foreign transaction fees.
For the remittance corridor, the savings are significant. Traditional channels to the Philippines charge 2-5% in combined fees and exchange rate markups. On $38 billion in annual remittances, that is billions lost to intermediaries every year. Peanut will deliver funds instantly at a better rate, with no fees on either end.
Who Will Use Peanut in the Philippines
Overseas Filipino Workers (OFWs) Sending Money Home
If you work abroad and send money home to the Philippines, Peanut is being built for you. Traditional remittance services charge 2-5% in fees, and the money can take days to arrive. With Peanut, you will send dollars and your family will receive pesos instantly — via GCash or a direct bank withdrawal. No fees on either end, real market rate, no waiting.
Families Receiving Remittances
On the receiving end, Peanut makes claiming money simple. Your family member abroad sends you a Peanut Link. You tap it, claim the funds, and withdraw to your GCash wallet or bank account. The money arrives in pesos, instantly, at a better rate than what traditional services offer.
Tourists and Business Travelers
The Philippines attracts visitors to its beaches, islands, and cities. But paying with a foreign card means markups on every transaction, and accessing GCash requires a local phone number. Peanut will let you scan QR codes at merchants across the country — pay in pesos at the real rate, from the day you arrive. No local ID, no Philippine bank account.
Get Notified
Peanut is not yet live for local spending in the Philippines, but you can already deposit and withdraw digital dollars today. When GCash 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 the Philippines. Verification takes under two minutes with your passport or national ID — no TIN required.
