Quick Summary
- The Pi Network now features TransFi, a verified provider facilitating fiat currency on-ramps. Users in over 70 countries can now easily acquire and manage PI tokens using their preferred local payment options.
- The deadline for the .pi domain auction has been extended until the end of September, giving users the opportunity to create personalized wallet addresses.
Enhanced PI Trading Possibilities
According to a recent announcement on the Pi News X (formerly Twitter) account, Pi Network has successfully integrated TransFi as a fully verified KYB (Know Your Business) fiat on-ramp partner. This integration allows users to seamlessly purchase and convert PI tokens using their local currencies directly within the Pi Wallet.
TransFi, a Lithuania-based fintech company, operates in over 70 countries and supports a wide range of payment methods, facilitating both traditional currency and cryptocurrency transactions.
The Pi Network team also confirmed the news via their official X channel, explaining that this enhancement is made possible through the integration of an Onramper within the Pi Wallet. This Onramper acts as a KYB-verified aggregator, simplifying the process for users to access on-ramp services.
Users can conveniently access this feature within the Pi Wallet, where they can select from various service providers and choose the option that best suits their needs.
The announcement explicitly stated that “the only KYB-verified on-ramp partners are Onramp.money, Transfi, and Banxa.”
Domain Auction Update
Earlier this week, Pi Network issued a reminder about the ongoing .pi Domains Auction, extending the deadline to the end of September. This extension provides users with additional time to develop, innovate, and place bids on their desired domains.
These domains offer users the ability to personalize their PI wallets and streamline interactions within the Pi Network ecosystem. Rather than using complex wallet addresses consisting of long strings of characters, users can opt for simpler, more memorable addresses using their names followed by the .pi extension for receiving payments and conducting other transactions. This concept mirrors the functionality of .eth (Ethereum Name Services) or .bnb (BSC Name Services).
It’s worth noting that extending deadlines has become a common practice for Pi Network, with past instances including the Open Network launch and other key events being pushed back.
This most recent extension of the domain auction has drawn some criticism from the community, with some users expressing concerns and even labeling Pi Network as a scam due to these ongoing delays.