Pi Network, a prominent cryptocurrency project, has enhanced its ecosystem by adding two new verified businesses to its Know Your Business (KYB) list. The integration of Onramper and Onramp.money aims to streamline the process for users to buy and sell Pi Coin (PI) using local fiat currencies, potentially boosting the network's accessibility and adoption.
Key Integrations and Their Impact
The latest additions bring the total number of verified businesses integrated with Pi Mainnet to eight. The official KYB list now includes Onramper and Onramp.money alongside established names like OKX, Bitget, Banxa, Gate.io, MEXC, and Pionex.
The inclusion of Onramp.money is particularly significant. This global fiat-to-crypto platform enables individuals and businesses to buy, sell, and trade over 400 digital assets. It operates in more than 60 countries, including India, Turkey, the United States, and Brazil, and supports various local payment options such as UPI and IMPS in India and VietQR in Vietnam.
Notably, the option to purchase PI Coin is already available on the platform with support for over 25 currencies, though it cannot be bought directly with US dollars.
Community Response and Milestones
The Pi community, known as Pioneers, has celebrated this integration as a major milestone. Many users view it as a step toward making Pi more accessible and usable. One user shared that this development represents faster, easier, and more secure ways to bring users into the Pi ecosystem.
This update is part of a series of recent developments within the Pi Network. Prior to Pi2Day, the team introduced a new feature to synchronize Know Your Customer (KYC) data between the Pi Browser and the main Pi App. Additionally, Pi Desktop (formerly known as Pi Node) received an update that included full window resizing support, a public key on the troubleshooting page, and improved Docker compatibility.
The Pi Browser also gained full account management capabilities. During Pi2Day, the team launched Pi App Studio and Ecosystem Index Staking.
Current Market Performance
Despite these positive developments, Pi Network's native token, PI, has faced challenges in the market. After a brief recovery of 15.8% in a single day last week, the token failed to sustain its gains. According to recent data, PI's value decreased by 4.3% in the last 24 hours, trading at approximately $0.51 at the time of writing. Trading volume also declined by 4.9%, dropping to just $96 million, indicating reduced trader interest.
The recent announcements have not yet generated the expected market impact, suggesting that the community may be awaiting a stronger catalyst. What that trigger might be remains uncertain.
For those interested in tracking real-time market movements and exploring advanced trading strategies, you can view real-time tools and analytics here.
Frequently Asked Questions
What is the Pi Network KYB list?
The KYB (Know Your Business) list comprises verified businesses that are integrated with the Pi Mainnet. These entities are authorized to facilitate transactions involving Pi Coin, enhancing the network's utility and trustworthiness.
How do the new integrations affect Pi Coin accessibility?
The addition of Onramper and Onramp.money allows users in over 60 countries to buy Pi Coin directly using local fiat currencies and preferred payment methods, significantly lowering the entry barrier for new users.
Why is Pi Coin's price declining despite positive news?
Cryptocurrency prices are influenced by various factors, including market sentiment, trading volume, and broader economic conditions. While developments like new integrations are positive, they may not immediately reflect in price due to delayed market reactions or the need for more substantial adoption triggers.
Can users in the United States buy Pi Coin through these new platforms?
As of now, Pi Coin cannot be purchased using US dollars on the Onramp.money platform. However, other supported currencies and payment methods are available for users in numerous countries.
What are the recent technical updates in the Pi Network?
Recent updates include enhanced KYC synchronization between Pi Browser and the main app, improved Pi Desktop functionality with better window management and Docker support, and the introduction of Pi App Studio and staking features during Pi2Day.
Where can I learn more about Pi Network's development roadmap?
For detailed insights and ongoing updates, following official Pi Network communications and community forums is recommended. You can also explore more strategies and resources to stay informed about the project's progress.