transparent UI Panel

Im trying to display a text in a Panel, i do not want the color of the panel to show, basically i dont want the panel bporder or color ot be shown, just the UI Text.Which setting do I change>

A panel is nothing more than a gameobject with a rect transform and an image with a preset source and colour.
You can either just remove the image component or just change the alpha value of the colour to 0 if you wish to hide it.