Pi Network’s native token, Pi Coin, is gaining traction among merchants, expanding its reach from the US to Asia.
Despite regulatory uncertainties, Pi Coin is making strides towards mainstream adoption, with countries like China, Vietnam, South Korea, Thailand, India, and the United States embracing Pi Coin payments for various products and services.
China stands out as a prime example of Pi adoption, with the BYD Auto Service Co., Ltd. in Changsha City enabling car sales through Pi payments. According to Doris Yin, the Pi Network Global GCV Movement Founder, Chinese pioneers have purchased vehicles at a fixed Global Consensus Value (GCV) of $314,159 per Pi.
In Vietnam, small businesses like Queanh Gia Coffee are integrating Pi Coin into daily transactions, with customers being able to pay for breakfast sets for as little as 0.003 Pi.
Similarly, in South Korea, businesses are starting to accept Pi payments, with some even allowing partial payments using the token. Retail stores, coffee shops, and even a plastic surgery clinic are getting on board with the trend.
Thailand recently saw a shopping event where Pi Coin was utilized for transactions, emphasizing the community’s drive for broader adoption.
Even in the United States, businesses in Florida are reportedly accepting Pi for transactions, marking a significant milestone for Pi Coin’s expansion outside the US and across Asia.
While the adoption of Pi Network is gaining momentum, it is not without controversy. Regulatory concerns have been raised in China, Vietnam, Thailand, and South Korea, with authorities cautioning against the risks associated with using Pi Coin for payments.
Despite these challenges, the growing acceptance of Pi by merchants worldwide underscores a rising confidence in its potential as a digital currency. The community-led efforts to promote adoption, particularly in Asia and parts of the US, highlight the demand for alternative peer-to-peer payment solutions.
As of writing, Pi Network’s PI token was trading at $1.6525, showing a decrease of over 12% since the beginning of the week.