Pi Network Announces Stablecoin Plan, Confirms PI Remains Primary Asset

Pi Network clarifies the role of stablecoin in its ecosystem following a partnership with Open Standard. The stablecoin will support use cases that require stable pricing, such as payments and commerce, but will not replace PI, which remains the primary digital asset in the network. Pi Network is exploring expanding the utility of the stablecoin through collaboration with Open Standard, which has over 200 members in the finance and technology sectors. They believe the stablecoin can facilitate many economic activities directly within the ecosystem. However, the implementation will be carried out carefully, with a focus on compliance factors. Currently, the Pi Core Team has not confirmed whether OUSD has been integrated into the Pi Mainnet and has not announced a launch date or details about the reward program for the Pioneer community. The price of PI is currently under market pressure, dropping to around 0.078 USD, the lowest in three months, with a market capitalization of approximately 915 million USD, ranking 69th on CoinMarketCap.

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