PiPay Brings Stablecoin Speculation Back to Pi Network
Pi Network is facing renewed speculation about a possible stablecoin after GCV ambassador Dimas Nawawi, known on X as @2000Rocker, highlighted development work around a project called PiPay. Dimas described PiPay as a global payment gateway and pointed to programming work attributed to developer Kosasih, including projects called OnRamp Pi, Pi Oracle and PiPay.
The most important detail is that this does not mean Pi Network has announced a stablecoin. Dimas’s comments represent a community claim, while the Pi Core Team has not publicly announced a Pi-backed stablecoin as part of its official roadmap. That distinction matters because community-built applications can exist independently from the core protocol and do not automatically represent an upcoming Pi Network product.
According to the posts circulating in the community, the PiPay project is being designed with a potential Pi stablecoin in mind. The concept would make sense from a payments perspective because a stable-value asset could reduce the volatility problem associated with using PI for everyday purchases. A merchant could potentially receive a dollar-pegged asset rather than immediately taking exposure to PI’s market price.
That would also change how Pi could function as a payment network. Instead of requiring users and merchants to exchange a volatile cryptocurrency directly, a stablecoin could provide a settlement layer for purchases, transfers and potentially cross-border payments. But creating such an asset would require much more than writing smart-contract code.
A credible stablecoin would need transparent reserves or collateral, an issuer with clear responsibility, regulatory compliance, redemption mechanisms and sufficient market demand. Depending on its structure and jurisdiction, it could also face money-transmission, electronic-money or securities-related requirements. Those considerations are outside what a community GitHub repository can establish by itself.
Pi’s Official Development Is Moving in a Different Direction
Pi Network’s confirmed development work is currently focused on expanding utility and giving developers more tools to build applications. On September 4, the network announced new developer capabilities, including local storage for selected Pi Browser apps, ecosystem-directory staking data and file and video-sharing functionality.
Pi has also already demonstrated DEX and automated market maker functionality on Testnet. The official announcement says developers can experiment with token swaps, liquidity pools and other DeFi functions, although those features were initially restricted to Testnet. This provides an important piece of infrastructure for any future stablecoin ecosystem, even though it does not mean a Pi stablecoin has been approved.
The timing is particularly interesting because Pi’s Protocol 27 upgrade is part of the network’s broader push toward smart-contract functionality. If more programmable financial applications eventually move onto Mainnet, developers could build payment, lending, swapping and settlement systems around PI and other tokens without those products necessarily coming from the Pi Core Team itself.
Third-party services are already exploring ways to connect PI with other digital assets. Such services can provide conversion and payment functionality, but they should not be confused with an official Pi stablecoin. The distinction between a service that converts PI into an existing stablecoin and a stablecoin issued specifically by or with the authorization of Pi Network is fundamental.
Related: What Will Pi Coin Actually Be Used For? Five Real-World Use Cases
For the Pi community, the real question is therefore not whether someone can build a stablecoin-related application. Technically, developers can experiment with that concept. The bigger question is whether the Pi Core Team would ever support an official stablecoin and whether enough merchants, users and applications would actually use it.
A successful Pi stablecoin could potentially solve one of the biggest problems facing crypto payments: price volatility. It could allow PI to remain the network’s native asset while a stable-value token handles transactions where predictable pricing matters. That could be particularly useful for e-commerce, international payments and applications that need accounting in a familiar currency.
But there is another possibility. Pi may not need its own stablecoin at all. If its DEX infrastructure, payment tools and developer ecosystem mature, external stablecoins could potentially provide the stable-value component while PI remains the asset used for network activity, ecosystem incentives and other functions.
The community development around PiPay is therefore worth watching, but it should be treated as an early signal of developer interest rather than evidence that a Pi stablecoin is about to launch. Pi Network itself continues to emphasize building applications and expanding utility, while recent official updates show that its developer infrastructure is still evolving.
If Pi eventually adds a stablecoin, the impact could be significant because it would give the ecosystem another financial building block. For now, however, the evidence supports a more measured conclusion: Pi stablecoin development is being discussed and explored by parts of the community, but there is no confirmed Core Team launch. The next stage of Pi’s ecosystem will likely reveal whether projects such as PiPay can move from community experimentation toward officially supported, widely used payment infrastructure.
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