# Peanut — Full Product Description

> Instant global peer-to-peer payments in digital dollars.

## Overview

Peanut is a peer-to-peer payments app that lets users send and receive money globally using digital dollars (USDC stablecoins). It provides a consumer-grade UX on top of blockchain infrastructure — users never need to understand crypto, manage wallets, or handle gas fees.

## Key Features

### Instant P2P Transfers
Send digital dollars to any Peanut user instantly. No waiting for bank processing, no wire fees.

### Payment Links
Generate a shareable link containing funds. The recipient clicks the link to claim the money — no account needed. Links work across messaging apps, email, and social media.

### Bank Cash-Out
Connect a local bank account and convert digital dollars to local currency. Supported rails:
- **Argentina**: Bank transfer, MercadoPago
- **Brazil**: PIX, bank transfer
- **Mexico**: SPEI, bank transfer
- **Colombia**: Bank transfer
- **Peru**: Bank transfer
- **Bolivia**: Bank transfer (via Meru)

### Crypto Deposit
Fund your account by depositing crypto from any exchange (Coinbase, Binance, Kraken, Bybit, OKX, etc.) or external wallet.

### Card Payments
Physical and virtual debit cards for spending digital dollars at any merchant that accepts card payments.

### QR Payments
Generate and scan QR codes for in-person payments.

## Security Model

- **Self-custodied smart accounts**: User funds sit in ERC-4337 smart accounts, not on Peanut servers
- **Biometric passkeys**: Account access is secured by the device's Secure Enclave (face/fingerprint). The private key never leaves the device
- **No server-side keys**: Peanut cannot access, freeze, or move user funds — even under regulatory pressure
- **Independent recovery**: If Peanut goes offline, users can recover access via any ERC-4337-compatible wallet

## KYC / Compliance

- Core features (send, receive, payment links) work without KYC
- Bank connections trigger a one-time identity check via Persona (SOC2 Type 2, GDPR, ISO 27001)
- Peanut only receives a pass/fail result — no documents stored on Peanut servers

## Fee Structure

- Peer-to-peer transfers: minimal fees
- Bank cash-out: small conversion spread
- No monthly subscription or account fees
- Merchant payments planned with fees lower than Visa/Mastercard

## Target Markets

Primary focus on Latin America:
- Argentina, Brazil, Mexico (largest markets)
- Colombia, Peru, Bolivia, Chile, Ecuador

Use cases: remittances, freelancer payments, cross-border transfers, savings in stable currency, merchant payments.

## Technical Stack

- Next.js web application (progressive web app)
- ERC-4337 smart accounts on Base (Ethereum L2)
- Biometric passkeys via WebAuthn / Secure Enclave
- Licensed banking partners for fiat on/off ramps

## Company

- Founded by Konrad Kononenko and Hugo Montenegro
- Based in Europe, serving Latin America
- Website: https://peanut.me
- Twitter: https://twitter.com/PeanutProtocol
- GitHub: https://github.com/peanutprotocol
- LinkedIn: https://www.linkedin.com/company/peanut-trade/