Peanut Is Coming to Vietnam
Pay with MoMo, send money to anyone in Vietnam, and skip the local ID wall — no Vietnamese bank account required.
Vietnam's digital payment landscape has transformed rapidly. MoMo, the country's dominant mobile wallet with 69% market penetration, has turned QR codes into the standard way to pay — at convenience stores, restaurants, online shops, and street food vendors. The broader VietQR ecosystem covers approximately 85% of merchants nationwide. But accessing these systems requires a Vietnamese phone number and bank account, which means tourists, digital nomads, and short-term visitors are stuck with cash and foreign credit cards.
Peanut will change that. When local spending launches in Vietnam, you will be able to pay through MoMo and the VietQR ecosystem and send money to anyone in the country — without needing a Vietnamese phone number, a local bank account, or a TIN. Your digital dollar balance will convert to Vietnamese dong at the real market rate at the moment of payment.
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. No exposure to dong fluctuations while your money sits in your account.
- 3
Pay with MoMo
When Peanut launches local spending in Vietnam, you will scan MoMo and VietQR codes at merchants across the country. Your digital dollars will convert to dong at the moment of payment.
- 4
Send money to anyone
Share a Peanut Link with anyone in Vietnam. They will claim the funds and withdraw to their bank account or MoMo wallet — no Peanut account required on their end.
What Payment Methods Are Coming
MoMo
MoMo is Vietnam's leading mobile wallet with 69% active wallet penetration — the most popular digital payment app in the country. It is used for in-store QR payments, online shopping, bill payments, ride-hailing (Grab, Be), and peer-to-peer transfers. MoMo is part of the VietQR ecosystem, which enables interoperable QR payments across participating banks and wallets with approximately 85% merchant acceptance.
When Peanut integrates MoMo, you will be able to scan QR codes at merchants across Vietnam — from convenience stores and supermarkets to restaurants, cafes, and street food vendors. You will also be able to pay online where MoMo is accepted. The merchant will see a normal MoMo or VietQR payment. No Vietnamese phone number required, no local bank account needed, no TIN on your end.
MoMo's extensive merchant network, combined with VietQR interoperability, means you will have access to the vast majority of Vietnam's digital payment infrastructure through a single integration.
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What to Expect
Vietnam's dong is managed by the State Bank of Vietnam, with relatively controlled movements against the US dollar. For foreign visitors, the challenge is not exchange rate volatility but access — tourists cannot easily open bank accounts or use local payment apps, leaving them dependent on cash and international credit cards with 1-3% foreign transaction fees.
Peanut will convert your digital dollars to Vietnamese dong 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, no need to carry large amounts of cash. While cash remains common for street food and smaller establishments outside major cities, the QR payment network is expanding rapidly and Peanut will give you access to all of it.
Who Will Use Peanut in Vietnam
Tourists
Vietnam attracts millions of visitors to Ho Chi Minh City, Hanoi, Da Nang, Hoi An, and Ha Long Bay. The payment situation is frustrating: MoMo QR codes are everywhere but inaccessible without a local phone number and bank account. Cash works but means exchange booth markups and the hassle of carrying bills. Credit cards are accepted at hotels and larger restaurants but with foreign transaction fees. Peanut will give you MoMo and VietQR access from day one — pay at the real rate with just your passport.
Digital Nomads
Ho Chi Minh City, Da Nang, and Hanoi are increasingly popular with remote workers, drawn by affordable living costs and a growing cafe and coworking culture. But banking access for short-stay visitors is extremely limited — you need a long-term visa or work permit to open a Vietnamese bank account. Peanut will let you pay with MoMo from day one, no local documentation required. Split bills with friends, pay for your apartment, and shop online — all through Vietnam's local payment systems.
People Sending Money to Vietnam
If you send money to family or friends in Vietnam from the US, UK, or Australia, traditional services charge fees and mark up the exchange rate. Peanut will let you send dollars instantly via a Peanut Link. The recipient claims the funds and withdraws to their bank account or MoMo wallet at the real rate — no waiting, no fees on either end.
Get Notified
Peanut is not yet live for local spending in Vietnam, but you can already deposit and withdraw digital dollars today. When MoMo 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 Vietnam. Verification takes under two minutes with your passport — no Vietnamese phone number or TIN required.
