Pi Network Mainnet explosion! 2.69 million users migrated, connecting to ISO 20022 in November.

Last week, 2.69 million users of Pi Network successfully migrated to the Mainnet. This migration was achieved following a large-scale KYC verification wave, marking a continued increase in the project's adoption rate ahead of the upcoming ISO 20022 integration on November 22. ISO 20022 is a global standard for financial transaction information exchange that has been adopted by banks and payment systems around the world.

2.69 million users completed the Mainnet migration, setting a new historical high

(Source: X)

According to data shared by community sources, millions of pioneer users have recently transferred their Pi tokens to the Mainnet. This marks a new phase in the development of the Pi Network ecosystem. The successful migration of 2.69 million users is one of the most significant technical milestones for the project since its inception, as it represents a crucial transition from a closed test network to an open Mainnet.

This milestone comes as the project prepares to embrace the ISO 20022 standard. ISO 20022 is a global standard for financial transaction information exchange, adopted by banks and payment systems around the world. This standard defines the structure and format of financial messages, enabling seamless communication between different financial institutions and payment systems. Pi Network's choice to integrate this standard demonstrates its attempt to transition from a pure cryptocurrency project to a digital payment network that can interoperate with traditional financial systems.

This integration is expected to achieve faster, cheaper, and more transparent cross-border payments, thereby bringing Pi closer to compatibility with traditional banking infrastructure. For ordinary users, this means that in the future, they may be able to use Pi directly for international remittances without having to go through multiple intermediaries and pay high fees. Furthermore, as the Pi community has pointed out, this shift could make Pi one of the selected cryptocurrencies that comply with global financial communication standards, such as XRP and XLM.

Three Major Significances of Mainnet Migration:

Technology Maturity Verification: The successful migration of 2.69 million users proves that the Mainnet technology is stable and reliable.

Ecosystem Activity Enhancement: Mainnet users can participate in dApps, DeFi, and real payment scenarios.

ISO 20022 Ready: User base meets the standard integration for practical application scenarios

Market confidence strengthened: The large-scale migration demonstrates the community's confidence in the long-term prospects of the project.

The significance of the number 2.69 million lies in the fact that these are all real-name users who have completed strict KYC verification. Unlike many cryptocurrency projects that claim a certain “number of users,” the migrating users of Pi Network must submit identification documents and pass an audit, making this number more authentic and credible. In a sense, these 2.69 million users represent the actual verifiable user base of Pi Network, rather than just download or registration numbers.

ISO 20022 integration will connect Pi Network to the banking system

ISO 20022 serves as a “universal financial language” that enables banks, payment systems, and digital asset platforms to communicate more effectively. By adopting this standard, Pi Network can facilitate direct communication between blockchain transactions and the global banking system. Community reports highlight that the integration of Pi with ISO 20022 and SWIFT could soon allow banks to utilize Pi's blockchain infrastructure for low-cost cross-border transactions.

The implementation of this integrated technology involves multiple levels. First, Pi Network needs to adjust its transaction message format to comply with the ISO 20022 standard structure. This includes the standardized expression of transaction amount, currency type, sender and receiver information, etc. Second, a technical interface with the SWIFT network needs to be established so that banks can initiate transactions on the Pi Network through existing SWIFT terminals. Third, cooperation with payment service providers (PSP) is needed to achieve real-time exchange between fiat currency and Pi tokens.

Although this does not mean automatic approval from regulatory agencies, it represents a key step towards the interoperability between cryptocurrency and banks. Analysts and community leaders believe this is one of the strongest indicators showing that blockchain technology is merging with the traditional financial world. For Pi Network, the integration of ISO 20022 is not only a technical upgrade but also a fundamental strategic shift, evolving from a decentralized cryptocurrency to a bank-grade digital payment network.

Cryptocurrencies that have adopted or plan to adopt the ISO 20022 standard include XRP (Ripple), XLM (Stellar), ALGO (Algorand), HBAR (Hedera), among others. These projects share a common focus on payment and cross-border transfer scenarios, rather than merely serving as a store of value or speculative assets. Pi Network's inclusion in this group indicates its attempt to compete with these established projects in the realm of practical payment applications.

Technical Advantages Based on the Stellar Consensus Protocol

The technology stack of Pi Network is another important factor in its reputation. Pi is based on the Stellar Consensus Protocol (SCP) and operates on a secure, low-energy framework that strikes a balance between decentralization and scalability. This architecture minimizes environmental impact while ensuring high efficiency, which is becoming increasingly important in the cryptocurrency space.

The Stellar Consensus Protocol is completely different from Bitcoin's Proof of Work (PoW) or Ethereum's Proof of Stake (PoS). SCP uses the Federated Byzantine Agreement (FBA), where nodes in the network can choose a set of other nodes they trust (called a “quorum slice”). When enough trusted nodes reach consensus, the transaction is confirmed. The advantages of this mechanism are fast transaction confirmation speeds (usually within 3-5 seconds), extremely low energy consumption (no mining required), and the ability for the network to continue operating even when some nodes fail.

The SCP-based system also supports regulatory coordination and compliance, enabling the Pi Network ecosystem to adopt bank-grade standards such as ISO 20022. This move will further enhance its reputation as a sustainable next-generation financial network. Compared to the high energy consumption of Bitcoin and the complexity of Ethereum, the technical choices of Pi Network are better suited for large-scale adoption and operation in a regulatory environment.

Pi Network Technical Features:

Consensus Mechanism: Stellar Consensus Protocol (SCP), low energy consumption and high efficiency

Transaction Speed: 3-5 seconds confirmation, much faster than Bitcoin's 10 minutes.

Energy Consumption: Extremely low, no mining required, in line with ESG trends

Scalability: Theoretically supports millions of daily active users.

Regulatory Friendly: The technical architecture facilitates integration with bank-level standards.

Market Impact of ISO 20022 Integration on November 22

As the release date of ISO 20022 on November 22 approaches, Pi Network seems to be entering a new era. The program's growing user base, along with its progress in financial standardization, reflects strong community confidence and stable ecosystem growth. The announcement of this specific date provides a clear catalyst timeline for the market, allowing investors and users to formulate participation strategies.

The potential impact of ISO 20022 integration on Pi Network's price may be multifaceted. In the short term, this positive news may have already been partially digested by the market, as relevant information has been circulating in the community for a long time. However, after the official integration on November 22, if actual banking collaboration cases or cross-border payment applications can be demonstrated, it may trigger a new wave of price increases. In the medium to long term, ISO 20022 compliance will significantly enhance Pi Network's credibility in the eyes of institutional investors and traditional financial institutions.

The experience of comparing with XRP can provide a reference. Ripple and XRP have long emphasized their ISO 20022 compliance and partnerships with banks, which has become one of their core narratives. Although XRP has gone through a long legal battle with the SEC, its positioning in the cross-border payment sector is still recognized by the market, with its market cap remaining in the top ten for an extended period. If Pi Network can successfully integrate ISO 20022 and demonstrate practical use cases, it may replicate a similar success path.

Risk factors also need to be considered. The technical complexity of ISO 20022 integration is extremely high, and if technical failures or compatibility issues arise when officially launched, it could seriously damage the reputation of Pi Network. Furthermore, even if the technical integration is successful, actual banking partners need to be willing to use Pi Network for cross-border payments. Without the actual adoption by banks, ISO 20022 integration is merely a demonstration of technical capability, rather than the realization of commercial value.

As the gap between cryptocurrency and traditional finance continues to narrow, the next phase of Pi Network may ultimately determine how digital currencies integrate with the real-world economy and could redefine financial inclusion in the blockchain era. The project has emphasized “cryptocurrency accessible to ordinary people” from the very beginning, lowering the technical threshold through mobile mining. Now, through ISO 20022 integration, Pi Network is attempting to achieve inclusive finance at the application level, allowing anyone to enjoy low-cost global payment services.