The native token of Pi Network, Pi Coin, continues to see a growing adoption by merchants, exceeding the United States in Asia.
It marks a surprising development towards traditional adoption despite unclear regulatory frameworks.
The PI network sees an increasing adoption for PE payments
Countries like China, Vietnam, South Korea, Thailand, India and even the United States accept Pi Coin payments. More specifically, individuals and businesses are launching with Pi payments for various goods and services, from coffee to cars.
One of the most remarkable examples of IP adoption comes from China. According to testimonies, the BYD Auto Service Co., Ltd. In Changsha City, in Hunan province, facilitates car sales thanks to full PI payments.
According to Doris Yin, the GCV founder of the GCV movement of the GCV network, around 40 Chinese pioneers bought vehicles from a world consensus (GCV) fixed of $ 314,159 per pi.
“I checked this information with Mr. Li Shao de la Hunan Pi Network Merchants Association. The 0.2 ft price covers all related costs, ”explained Yin.
She also cited the financial support of investors such as Gaoling Group and Sequoia Capital, highlighting growing confidence in the PI ecosystem.
Likewise, in Vietnam, small businesses have also started to integrate the PI room into daily transactions. Queanh Gia Coffee now allows customers to pay Pi, highlighting the growing use of the token.
A user on X (formerly Twitter) shared that a breakfast could be bought for only 0.003 ft, which makes transactions affordable and practical.
Elsewhere, in South Korea, the PI part of the PI network is also witness to increasing acceptance. According to statements, some companies now allow partial payments using the token. A plastic surgery clinic began to accept the IP for 50% of its payment, evaluating the part at around $ 37 per pi.
“In Korea, another plastic surgery clinic accepts PI payment. Only 50% accept PI payment. 1 ft is worth around $ 37, “said PI -focused media.
Various retail stores and cafes have also joined the trend, allowing Pi holders to use their parts in daily transactions.
In the same tone, Thailand recently organized a shopping event where Pi Coin was used as a means of payment, strengthening the push of the community for the adoption of the token.
“ΠGCV: the GCV community in Thailand has organized a commercial event with π parts. Let us continue to fight for πgcv314159 $. Fight for π and GCV until the end. GCV, ”wrote Pi Global News in an article.
Meanwhile, in the United States, Florida companies would have started accepting Pi for transactions. These developments mark an important step for the PI part of the PI network outside the United States and across Asia.
Regulatory concerns: China, Vietnam, Thailand and South Korea
Although the adoption of Pi Network is growing, it also arouses controversy. The Chinese authorities have issued warnings against the PI network, some responsible for the exchange by calling it a scam project and raising concerns about its legitimacy.
Vietnam police also expressed legal warnings, warning citizens on the risks of using Pi Coin for payments.
“Pi Lack of practical applications; Its value is self-sufficient, which has led to misunderstanding its true value, ”said the authorities.
Meanwhile, Reuters reports that the firm firm in Thailand has completely prohibited digital asset payments since April 2022. This has made PI transactions potentially illegal in the country. Meanwhile, South Korea does not officially recognize cryptocurrency as a legal payment means, which could create obstacles for companies adopting PI transactions.
Despite these regulatory challenges, acceptance of the PI network by merchants around the world suggests growing confidence in its potential as a viable digital currency. The push of the adoption focused on the community, in particular in Asia and now in the United States, highlights the request of another method of payment between peers (P2P).
The Pi Network Pi token was negotiated at $ 1,6525 when writing this article, down more than 12% since the opening of the session on Monday.
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