According to Coinfomania on June 10, Pi Network KYB-verified fiat on/off-ramp partner Onramp Money officially launched its crypto withdrawal service in Hong Kong this week, allowing users who have integrated with the Pi Wallet to convert supported crypto assets into Hong Kong dollars (HKD). Analysts estimate that about 160 million PI tokens will enter circulation within the next few weeks, creating sell-side supply pressure on spot prices.
Onramp Money Hong Kong Service Confirmation Details
Onramp Money is a fiat on/off-ramp partner that has passed Pi Network KYB verification and has been integrated into the Pi Wallet ecosystem. It is listed alongside Banxa and Transfi as a partner service provider in the Pi Wallet ecosystem.
According to official information from the Pi community, Onramp Money’s new service allows users to sell supported crypto assets, convert them into HKD, and withdraw the funds directly to local Hong Kong bank accounts. Onramp Money has not disclosed a complete list of supported cryptocurrencies in its existing public statements.
Node Upgrade Confirmation: June 28, 2026 as the Protocol 26 Transition Deadline
The Pi Network core team has formally instructed mainnet node operators to transition to Protocol 26 by June 28, 2026. In an official notice, the core team stated that the upgrade process takes longer than usual and explicitly recommended that operators do not wait until the last moment to execute it, in order to avoid losing consensus connection with the network during the upgrade period. The purpose of this upgrade is to maintain node connectivity and support future ecosystem development.
Banxa Confirmed Plan: Support Cross-Border Physical Entity Payments After Ecosystem Apps Are Ready
In a recent statement, Banxa confirmed that once applications within the Pi ecosystem are ready to support broader commercial use, Banxa plans to support cross-border physical entity payments. Banxa also confirmed that the Pi core team is actively addressing the challenge of application distribution for the next generation of creators, and noted that artificial intelligence has significantly reduced the technical barriers faced by developers when building applications. At present, the main challenge has shifted to application distribution and user adoption.
Market Data: PI at $0.125, 160 Million Tokens Pending Unlock
As of the time of the article, the PI token spot price is around $0.125, near recent historical lows. Analysts estimate that about 160 million PI tokens will enter circulation within the next few weeks, creating ongoing supply-side pressure, and overall market sentiment remains subdued.
FAQ
Which cryptocurrencies does Onramp Money’s HKD withdrawal service support?
Based on available public information, Onramp Money supports converting “supported crypto assets” into HKD, but its official announcements do not list a specific set of coin types. Users can verify the asset categories currently supported via the Pi Wallet interface.
What is the deadline for upgrading Pi Network to Protocol 26, and what happens if it isn’t upgraded?
The Pi core team confirmed the deadline as June 28, 2026. In the official notice, the core team clearly stated that nodes that fail to complete the upgrade will be unable to maintain consensus connection with the network—meaning the nodes will no longer be able to continue participating in mainnet validation work.
Is the estimate for unlocking 160 million PI tokens an officially confirmed figure?
According to the report, the unlocking estimate for 160 million PI tokens comes from analysts’ forecasts, not an official statement by the Pi Network core team. The Pi Network core team has not yet published a specific token unlock schedule.
