# Peanut — Full Product Description > Spend, send, and cash out digital dollars anywhere — pay local QR codes in Argentina and Brazil with just your passport, spend on a card, and move money across borders without a local bank account or local tax ID. ## Overview Peanut is a self-custody money app built on digital dollars (USDC). Users hold dollars in an account that only they control and spend them like a local — scanning the same QR codes locals use, paying with a card, sending a link, or cashing out to a bank. The experience is consumer-grade: users never manage wallets, seed phrases, or gas fees. Where identity verification is needed it takes a passport and under two minutes — no local ID, bank account, or residency required. Core crypto features require no verification at all. ## Headline differentiators ### Pay PIX in Brazil without a CPF PIX is Brazil's instant payment network — ~150 million people use it daily. Normally it requires a CPF (Brazilian tax ID) and a Brazilian bank account, which locks out tourists, nomads, and expats. Peanut lets anyone scan a merchant PIX QR and pay in BRL using a passport-verified account funded with digital dollars. The merchant receives BRL in seconds and sees an ordinary PIX payment. The conversion isn't subject to IOF (Brazil's financial-operations tax), saving up to ~3.5% versus cards and bank transfers. Free, 24/7/365, QR scan only. ### Pay MercadoPago in Argentina without a DNI MercadoPago QR is accepted at 1,000,000+ merchants in Argentina. Locals need a DNI to open an account; Peanut gives access to the payment network without one — pay in pesos with a passport-verified account. Conversion uses the cripto dólar rate (a direct dollar-to-peso market rate that beats the regulated MEP rate cards use), typically several percent to ~11% more pesos per dollar. Free, instant, rate locked at payment. ### The Peanut Card A virtual Visa card that spends the user's digital-dollar balance anywhere Visa is accepted. Free to issue and top up; the only cost is the exchange-rate spread on currency conversion. Available in most countries (the US, Europe, the UK, Latin America, Africa, and more) and requires identity verification. A short list of regions is excluded — the card issuer's restricted-issuance list (China, India, Russia, Turkey, Vietnam, Iran, Israel, and a handful of others). ## Core features ### Peanut Links Put money in a shareable link or QR; the recipient claims it with no account needed. Works across messengers, email, and social. Unclaimed links are reclaimable; claimed is final. ### Peanut Requests A collection link for splitting bills, tips, or donations. Multiple contributors, funds arrive instantly to the balance. ### Add money (deposit) - Crypto: USDC or USDT (and ETH on major EVM networks, auto-converted) from any exchange or wallet on Solana, Arbitrum, Base, Tron, Polygon, or Ethereum. No verification. Gas covered. - Bank: SEPA (EUR), ACH (USD), SPEI (MXN), Faster Payments (GBP), and incoming wires (USD/EUR). - All deposits free. ### Cash out (withdraw) - Bank: SEPA, ACH, SPEI, Faster Payments — to your own or any third party. - Crypto: to any wallet on any supported network; gas covered. - Argentina: MercadoPago or a local account. - All withdrawals free from Peanut. ### Direct bank transfers Send from balance straight to any third-party bank account, and receive into the balance, via SEPA/ACH/SPEI/Faster Payments — no link required. ## Security & custody - Non-custodial smart accounts (ERC-4337) on Arbitrum. User funds never sit on Peanut servers. - Biometric passkey auth: the private key is generated from device biometrics and sealed in the device Secure Enclave — never exported, never sent to Peanut. - Peanut cannot freeze, seize, or move user funds. If Peanut went offline, users keep full control via any ERC-4337-compatible wallet. - Every transaction requires an on-device biometric signature. ## Verification & limits - Required only for bank deposits/withdrawals and local QR payments. Passport or national ID from any country (US driver's license accepted for US users). No local ID anywhere. - Crypto deposits, crypto withdrawals, and browsing require no verification. - Limits: Latin America ~$2,000/month combined (raisable with documents); US/Europe/Mexico/UK no hard limit (very large transactions reviewed); crypto unlimited. ## Fees - No per-transaction fee from Peanut. Same-currency moves (USD↔USDC) are free; cross-currency conversions carry a small spread embedded in the displayed, locked rate. Gas is always covered. No monthly or account fees. ## Where Peanut works - Local QR spending live: Argentina (MercadoPago), Brazil (PIX). - Bank rails live: 36 SEPA-zone countries (EUR), US (ACH/wire), Mexico (SPEI), UK (Faster Payments). - Crypto deposit/withdraw: global, all non-restricted countries. - Card: available in most countries; excludes a short restricted-issuance list (China, India, Russia, Turkey, Vietnam, and others). - Roadmap (not live): local payment methods in many more countries (CoDi, Transfiya, Yape, Bizum, MB WAY, UPI, and others). Only Argentina and Brazil have live local spending today. ## Who it's for Tourists, digital nomads, expats, remote workers, freelancers, and families moving money across borders — especially anyone wanting to spend or save in dollars in Latin America without a local ID or bank account. ## Company - Website: https://peanut.me - Twitter/X: https://x.com/joinpeanut - GitHub: https://github.com/peanutprotocol - LinkedIn: https://www.linkedin.com/company/peanut-trade/ - Careers: https://peanut.me/careers - Support: https://peanut.me/support