“Tap to Earn,” Pi Network has introduced one of its biggest ecosystem updates. On Pi2Day, the Pi Core Team launched PiVerify, a new identity verification service that allows businesses outside the Pi ecosystem to use Pi’s KYC technology.
While many Pioneers see it as a major step toward real-world adoption, Pi Coin price continues to struggle, seeing a 6% drop today.
PiVerify Takes Pi Network Beyond Its Own Ecosystem
As part of its Pi2Day update, the Pi Core Team launched PiVerify, a new identity verification service for businesses outside the Pi Network. Until now, Pi’s KYC system has been used only within its own ecosystem.
With PiVerify, third-party companies can now verify that their users are real people, helping reduce fake accounts and improve security.
The service also increases Pi’s real-world utility. Every business using PiVerify pays for the service in Pi Coin, creating another use case for the token beyond simple peer-to-peer transfers.
Pi Network already has more than 18 million KYC-verified users, making it one of the largest verified communities in crypto. The Core Team believes opening this service to outside businesses will help expand Pi’s ecosystem and increase the utility of Pi Coin over time.
Pi Network Also Launches Two More Business Services
PiVerify wasn’t the only announcement. The Core Team also introduced Pi Sign-in, allowing users to log into supported third-party apps and websites using their Pi accounts.
Another launch, SoloHost, gives developers an open framework to build AI and distributed computing applications through Pi Desktop. Users can run these applications on their computers while accessing them through Pi Browser.
Together, these three launches aim to position Pi Network as more than just a cryptocurrency, expanding its services into identity verification, AI infrastructure, and developer tools.
Pi Coin Price Crashed by 6%
Despite the positive announcements, Pi Coin has failed to attract new buying interest. The token is currently trading near $0.1129, down around 6% over the past 24 hours and still nearly 96% below its all-time high of $2.98.
Another concern is the upcoming monthly token unlock. Around 103 million PI, worth roughly $11.7 million at current prices, are expected to enter circulation in July.
As more Pi tokens are released into circulation, selling pressure could rise further because demand is still not strong enough to absorb the new supply.
