Pi Network has rolled out a new feature called Fast Track KYC, allowing new users to verify their identity and activate a Mainnet wallet before completing 30 mining sessions. The system uses additional AI-powered checks within the KYC process, and is available directly in the Pi Wallet app for eligible users.
While the feature grants earlier access to the wallet and Pi ecosystem apps, it does not enable Mainnet migration. Users must still complete the full checklist, including standard KYC and mining session requirements, before transferring their mined Pi.
KYC Without Third-Party Services
Fast Track KYC is designed as a native identity verification tool within Pi’s own infrastructure. This update gives users an alternative to third-party providers like Banxa, which previously handled most onboarding. The new feature is not a replacement for full KYC and does not guarantee approval. According to the Pi Core Team, the automated nature of Fast Track KYC may involve stricter standards than manual checks.
Additionally, following the termination of U.S. sanctions on Syria, Pi Network has extended KYC eligibility to users in the country.
Read also: Pi Network Stuck Near $0.35 Despite New Upgrades
The Price Remains Stuck
Despite this announcement, Pi’s price barely moved. It’s still hovering around $0.35, which is just two cents above its all-time low and nearly 90% below the highs it hit back in February.
Pi’s lack of listings on major centralized exchanges is a key reason for this stagnation. While Pi won a Binance community vote earlier in the year, the exchange has not acknowledged it, and other large platforms have either remained silent or criticized the project. For example, the CEO of Bybit publicly labeled Pi Network a scam.
Token unlocks are another factor impacting price performance. While the rate of unlocks has slowed slightly in recent weeks, millions of new Pi tokens continue to be released into circulation daily, and the largest scheduled unlocks are still ahead – with significant increases expected through 2027.
Read also: How to recognize a crypto presale scam? Full guide
What’s Next?
Fast Track KYC marks another step in Pi Network’s ongoing development, offering smoother onboarding and broader access to its ecosystem. The update adds functionality and may help attract more verified users over time.
However, the token’s continued price stagnation, absence from major exchanges, and ongoing token unlocks remain significant challenges. While the project continues to grow on the infrastructure side, the current market response suggests that confidence in its token economics has yet to recover.
