Pi Network integrates TransFi fiat on-ramp! Covering 70+ regions, supporting local payment to purchase PI coin.

The popular blockchain project Pi Network announced the completion of its KYB (Know Your Business) verification integration with fiat on-ramp service provider TransFi, and is now officially connected to the Pi Wallet. This move allows pioneering users from over 70 countries globally (Pioneers) to purchase and exchange PI Tokens directly through local payment methods. At the same time, the team announced that the auction deadline for .pi domain names has been extended to the end of September, providing users with more time to bid for personalized Web3 identity identifiers.

[fiat on-ramp expansion: TransFi becomes the third KYB certification service provider] The official X account of Pi Network confirms that the Lithuanian fintech company TransFi has completed the KYB process, becoming the third officially certified fiat on-ramp partner after Onramp.money and Banxa. Core upgrades include:

Coverage in over 70 countries: The TransFi business network spans more than 70 countries/regions, significantly expanding the fiat on-ramp options for PI coin purchases. Users can now freely choose from three certified service providers for transactions through the Onramper aggregator embedded in the Pi Wallet.

Localized payment support: Integrate hundreds of payment methods, allowing users to directly exchange PI Tokens using local fiat and various payment channels, lowering the entry barrier to cryptocurrency. Operation path: Pi Wallet > Select Onramper service > Choose certified provider to complete the transaction.

【.pi domain auction postponed to September, mixed reactions from the community】 The project team announced key community functionality adjustments this week:

Domain auction period extended: The .pi domain auction originally scheduled to end will be postponed until the end of September 2023, allowing pioneer users to continue bidding for personalized domains (such as yourname.pi). This move aims to provide more time for application development and domain strategy formulation.

Web3 identification feature: .pi domain functionality is similar to Ethereum's .eth, aimed at simplifying cryptocurrency payment processes (replacing complex wallet addresses with easy-to-remember domain names) and enhancing the interaction experience within the Pi ecosystem.

Controversy over delay strategy: The recent delay has sparked dissent among some community members, with users questioning the project's progress management. It is worth noting that Pi Network has previously postponed major milestones such as the mainnet launch multiple times, and some pioneer users have expressed a crisis of trust.

Conclusion: Dual-line promotion of ecological infrastructure, Pi Network accelerates the implementation of practical scenarios. The expansion of the fiat on-ramp and the upgrade of the domain system mark substantial progress for Pi Network in terms of payment convenience and the construction of the user identification system. The addition of TransFi significantly broadens the compliant pathways for global users to acquire PI Tokens, particularly benefiting users in emerging markets. Although the delay in the domain auction has raised concerns in some parts of the community, the functionality itself is expected to enhance payment efficiency and user experience within the ecosystem. With the continuous increase of KYB certification channels and the gradual rollout of core functionalities, Pi Network is gradually fulfilling its commitment to building an inclusive cryptocurrency ecosystem. The next developmental focus remains on the mainnet opening process and the scalable implementation of PI Token use cases.