Press Releases

Peanut Raises $1.5M Pre-Seed to Make Digital Dollar Payments as Easy as Texting

John Williams

Feb 13, 2025 — 1 min read

Peanut has raised $1.5 million in pre-seed funding to bring stablecoins (digital dollars) to the masses. The funding will accelerate Peanut’s mission to provide a faster, borderless alternative to traditional banking, without requiring technical expertise from the users.

With Peanut, users can send and receive digital dollars across 20+ networks, instantly cashing out to their bank accounts in U.S. Dollars or Euros—all without relying on outdated payment infrastructure. Funds arrive near-instantly, eliminating slow and costly international transfers.

Pay Anyone with a Text

Peanut introduces a new way to send money: URL and QR code payments, enabling transactions through everyday platforms like WhatsApp, Telegram, email, and SMS. This removes the friction of traditional transfers, allowing anyone to receive funds—whether they use digital dollars or traditional bank accounts.

“Texting money is now possible,” said Hugo Montenegro, co-founder of Peanut and a Harvard graduate. “We use this to pay freelancers all the time. With Peanut, digital dollars move as easily as a Venmo or PayPal transfer—without the banking delays or hidden fees.”

About Peanut

Peanut is a next-generation payment network that enables seamless cross-border, bank-connected stablecoin transactions. Using advanced smart contract technology, Peanut ensures security, self-custody while keeping transactions near-instant and user-friendly.

The protocol already supports 20+ digital asset networks and plans to expand to additional platforms. Leading financial technology companies like Blockscout, WalletConnect, and Clave Wallet are leveraging Peanut’s technology to enhance their payment experience.

For more details, visit peanut.me or contact press@peanut.to.

Quotes from Founders

“The efficiency of a global, instant settlement network without intermediaries would have been unthinkable a few years ago.” - Konrad Urban

“Our mission is to make the flow of money buttery smooth.” - Konrad Urban

“The people of Argentina deserve better access to the dollar” - Konrad Urban

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