Latest Developments on Pi Network's PI: Learn About the Recent News
Pi Network, the cryptocurrency platform, has announced the integration of TransFi as a KYB-verified fiat on-ramp provider. This move aims to simplify the process of buying and converting PI tokens for users across the globe.
TransFi, a Lithuania-based fintech startup, supports hundreds of payment methods, including fiat and crypto settlements. With this integration, users in over 70 countries can now access the service through the Pi Wallet and choose from different services to utilize the one they prefer.
The on-ramp service offered by TransFi allows for direct fiat-to-PI conversion, eliminating multi-step conversion processes and making crypto adoption more accessible worldwide. The range of payment options includes traditional payment systems like bank transfers and credit cards, as well as numerous local/regional e-wallets tailored to different countries and markets.
TransFi's regulatory and security compliance is ensured via Know Your Business (KYB) verification and certifications such as ISO 27001 and AICPA SOC. This ensures secure and trusted access to PI purchases globally.
This integration is particularly beneficial for users in emerging markets, who often face complex on-ramping processes. With TransFi, these users can now easily buy and convert PI tokens using local payment methods.
It's worth noting that only three KYB-verified on-ramp partners for Pi Network are Onramp.money, Transfi, and Banxa.
In other news, Pi Network has extended the deadline for the .pi Domains Auction until the end of September. This move has sparked disapproval among certain members of the community, with some viewing it as a signature move by the project team. Some members have also lost complete trust in Pi Network due to this extension.
The .pi domains will allow pioneers to personalize their PI wallets and interact within the ecosystem more easily. Users can use their names and the .pi ending to receive payments or conduct other operations instead of lengthy addresses containing numerous letters and numbers.
The Pi Network team reminded users about the extension of the .pi Domains Auction earlier this week. This extension gives users more time to bid for their applications.
The integration of TransFi was made possible thanks to the integration of an Onramper. This move is part of Pi Network's ongoing efforts to make its platform more accessible and user-friendly for its global community.
TransFi's integration into Pi Network's platform enables wallet users to buy and convert Ethereum, Bitcoin, or Pi tokens directly using various local payment methods, as TransFi supports hundreds of payment options, including traditional payment systems and numerous e-wallets. With TransFi's regulatory and security compliance ensured through KYB verification and certifications like ISO 27001 and AICPA SOC, users can now safely access PI purchases worldwide.
The integration of TransFi as a KYB-verified on-ramp provider also allows Pi Network users in emerging markets to effortlessly buy and convert PI tokens using their preferred local payment methods, simplifying the on-ramping process. This significantly benefits users in these regions who previously had complex on-ramping processes.
