Zkp2p Review 2026: Private Fiat-to-Crypto On-Ramp, Now Called Peer

Zkp2p is a peer-to-peer fiat-to-crypto on-ramp. It lets people buy crypto by paying a seller through a payment app they already use, then proves that payment on-chain with a zero-knowledge proof. The proof releases crypto held in escrow.

The protocol began as a research project supported by the Ethereum Foundation's Privacy and Scaling Explorations group. It has since grown into a live peer-to-peer settlement system. In February 2026 the project was renamed Peer, with a stated focus on user experience. The ZKP2P name now refers to the open protocol underneath, and Peer is the app built on top of it.

The main appeal is avoiding a centralized exchange and a traditional KYC flow. The main open questions are fees, audits and team details, which the project does not publish.

A seller deposits crypto, such as USDC, into an escrow smart contract and lists the rate and payment methods they accept. A buyer picks an offer and sends fiat to the seller through a payment app such as Venmo, Revolut or PayPal.

The buyer then generates a zero-knowledge proof that the payment occurred and that they own the paying account. The proof is checked, and the escrowed crypto is released to the buyer. The seller receives the fiat directly, and no centralized exchange holds funds in between.

Because the proof shows a payment happened without exposing everything about it, the approach is described as privacy-preserving. It works on top of existing payment rails rather than replacing them.

Fees are not published. There is no stated protocol fee, seller spread or app charge, so users should check the Peer app and documentation before confirming a trade.

Beyond protocol costs, the payment app used for the fiat leg may charge its own fees, and the network used for settlement will have gas costs. Neither is quantified here.

The protocol is described as non-custodial, so funds sit in escrow smart contracts rather than with a company. That removes exchange custody risk but adds smart-contract risk. Audit reports are not stated, so readers should look for them in the official documentation.

The fiat leg runs through third-party payment apps, which have their own terms, reversal rules and account restrictions. Rules on peer-to-peer fiat trades vary by country, so check what applies where you live. Be careful with the rename to Peer, since lookalike sites and accounts are a common risk after a rebrand. Only use links from the project's verified channels.

Zkp2p suits crypto users who want to buy or sell stablecoins using everyday payment apps without a centralized exchange account. It also suits developers and liquidity providers who want to build on or supply an open on-ramp protocol. It is less suited to people who need published fee schedules, formal audit reports or customer support.