Pi Coin Gaining Ground in Retail, Hospitality, and Services Across Asia

PiChain Mall recently started accepting Pi Coin as a payment method, allowing a customer to buy an iPhone 15 with it. On Nov. 14, the transaction went smoothly

Retail stores in South Korea, Vietnam, and Taiwan are now accepting Pi Coin (π) as a payment method. This marks a significant development in the cryptocurrency’s growing presence in the mainstream retail sector.

According to CoinChapter’s analysis, a customer recently purchased an iPhone 15 using Pi Coin at a retail store in Yerevan, Armenia. The transaction was smoothly processed through Pi Payments, highlighting Pi Network’s aim to integrate cryptocurrency into everyday shopping.

Pi Coin Gaining Ground in Retail, Hospitality, and Services Across Asia

Notably, several luxury stores in South Korea now accept Pi Coin for up to 70% of the purchase price. Each Pi Coin is valued at around $7.1 in these stores, offering Pi Network users substantial flexibility in spending. Stores accepting Pi Coin include those selling Christian Ontani cowhide bags, among other high-end items.

In Vietnam, Fantasy Da Lat Homestay accepts Pi Coin for accommodations, meals, and snacks. Each Pi Coin is valued at around $7.7 at the homestay. Guests can also fully cover their stay using Pi Coin, making the arrangement particularly appealing to the Pi Pioneer community.

Moreover, a motorcycle repair shop in Taiwan has started accepting Pi Coin as payment. This marks Pi’s entry into the service sector, expanding its use beyond online transactions and everyday goods.

Binance and OKX Set to List the Coin by Dec. 31

Meanwhile, Binance and OKX are preparing to list Pi Coin as a spot asset on their exchanges by Dec. 31, 2024. This will allow users to trade Pi Coin outside the Pi Network app for the first time.

Launched in 2019 by Stanford graduates, Pi Network enables users to mine Pi Coin on mobile devices using the energy-efficient Stellar Consensus Protocol. The network boasts over 20 million active users globally.

The recently updated roadmap (V2) outlines steps toward an open Mainnet, expected in 2024. These steps include improving infrastructure, enhancing security, and supporting decentralized applications (DApps).

Currently, Pi Coin can only be mined within the Pi Network app.