- Pi Network partners with TransFi for fiat purchases worldwide.
- Enhances direct fiat to PI coin transactions.
- Addresses previous reliability issues with Onramp Money.
Pi Network has integrated TransFi as a third fiat on-ramp, enhancing accessibility for PI coin purchases in over 70 countries with 250+ payment methods amid Onramp Money challenges.
This integration aims to mainstream PI amid bearish market sentiment and future token unlocks, potentially boosting user base and trading volume despite short-term market pressures.
Pi Network has partnered with TransFi to facilitate fiat purchases of its cryptocurrency across 70+ countries. This enhances accessibility after ongoing issues with the Onramp Money platform. The goal is to make the PI ecosystem more inclusive.
The Pi Network team, in collaboration with Vilnius-based fintech TransFi, introduced this updated service. Users now have access to over 250 payment methods. TransFi Representative commented, “We are excited to enable direct fiat purchases of PI coin across 70+ countries with over 250 payment methods.” The aim is to streamline transactions and bypass older, less reliable methods.
The introduction of TransFi is expected to improve user experience significantly. With over 7.75 billion PI in circulation, this move is crucial for maintaining liquidity and user satisfaction. The market reacted with enthusiasm, though cautious due to current market conditions.
The financial sector observes this integration closely, noting its potential to impact $PI's current trading value, which stands at $0.41 with a daily volume around $91 million. Improvements in transaction efficiency are anticipated to stabilize the coin’s market position.
Concerns remain about whether this change will counteract current bearish trends significantly. However, this integration is viewed as a step towards long-term growth by broadening user abilities to engage with PI.
The move aligns with historic trends where increasing accessibility positively influences token popularity. Regulatory compliance, evidenced by TransFi’s ISO 27001 certification, supports this initiative, ensuring secure and effective operations across different jurisdictions.
