Project Progress

On February 25, news reports indicate that despite the new position offering a $0 salary, the Pi Network community has shown great enthusiasm for Mobix's global expansion plan. According to the latest update, Mobix is encouraging representatives from various countries to participate in building localized commercial networks, promoting Pi's use in real-world payments and circulation, and accelerating the transition from mining incentive models to actual consumer scenarios. The core of this plan is to establish a "Global Business Layer." Mobix recruits volunteer representatives from different regions to coordinate product delivery, optimize order processing workflows, and improve cross-border transaction communication efficiency. This localized support mechanism aims to reduce transaction friction, enhance the Pi payment experience, and provide infrastructure support for Pi's commercialization. Unlike crypto projects that rely on price speculation, this model emphasizes real commodity exchanges and everyday payment use, reinforcing its positioning as a "practical digital currency."

E.SUN Financial Holding foresees that the financial industry will enter the era of "three-track finance," including physical, digital, and virtual assets. In response to the promotion of the Virtual Asset Management Act, E.SUN plans to strengthen blockchain applications, focusing on cross-border payments, virtual asset services, and real asset tokenization. As the demand for stablecoins increases, financial institutions have already begun to deploy, expecting to offer related services after the enactment of the special law. However, regulation of stablecoins still requires consensus among all parties.

Bhutan will launch a blockchain-based digital nomad visa program in 2026. Applicants are required to deposit $10,000 in gold-backed tokens (TER) and pay an annual fee of $2,800. This program aims to integrate sovereign crypto assets with national immigration policies. Critics worry about the high financial threshold and infrastructure challenges, but supporters believe it can filter out genuine applicants.

Mobix's global initiative promotes real-world applications of the Pi Network, enabling users to purchase tangible goods with Pi, fostering commerce and reducing speculation. Local representatives enhance trust and efficiency but may face challenges due to reliance on unpaid volunteers. The initiative aims to establish Pi as a credible digital currency through increased transactions and ecosystem growth.

On February 25, Pi Network celebrated the one-year anniversary of its open network launch by releasing a new video message from founder Chengdiao Fan, reaffirming the development path of "practicality first." She stated that Pi is different from projects driven by ICOs or short-term speculation, instead focusing on long-term value through mobile mining, real identity verification, and local business applications, with the goal of promoting practical daily payments and application scenarios. Official data shows that approximately 16.2 million users have completed mainnet migration, and about 17.7 million have completed KYC verification; the total number of active nodes on the network exceeds 421,000, with over 9 billion Pi transferred into mainnet wallets. On the ecological level, hundreds of applications are already online, with around 148,000 merchants registered on the Pi Map e-commerce platform, emphasizing the parallel promotion of user participation and commercial activities, rather than just mining growth.

_Vitalik outlines Ethereum’s DeFi vision focused on permissionless access, privacy, security, open-source standards, and oracle reform._ Ethereum co-founder Vitalik Buterin has outlined a renewed vision for decentralized finance on Ethereum. He said DeFi must remain permissionless, private, an

Global financial services company Payoneer has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish PAYO Digital Bank, obtaining a national trust bank license. If approved, Payoneer will be able to issue a stablecoin compliant with the GENIUS Act, PAYO-USD, and provide its customers with regulated stablecoin custody, payments, and cross-border currency exchange services.

NEAR introduces Confidential Intent features, enabling cross-chain transaction privacy through private sharding, addressing transparency issues in DeFi transactions. Users can switch accounts within the application, enable confidential mode, and ensure privacy for transfers and other operations, targeting institutions and advanced users.

The Ethereum Foundation has officially begun staking Ether reserves, with an initial deposit of 2,016 ETH. The total staking scale is expected to reach 70,000 ETH. This move aims to clarify fund management policies, generate reasonable returns, and support the long-term development of the Ethereum ecosystem, while also ensuring network security and funding the Foundation's operational activities.

The Pi Core Team shared a new video message from Pi founder Dr. Chengdiao Fan. She stressed that Pi Network is intentionally different from most crypto projects. In the post, Fan explained that Pi focuses on real-world utility, not short-term trading hype She said the network aims to build

ChainCatcher News, Tether CEO Paolo Ardoino released a teaser video yesterday. The video features an application icon with a metallic texture similar to a bank card. The community speculates that Tether will launch a crypto debit card service.

Pi Network recently completed another transfer of 300 million Pi tokens, used to launch the mainnet wallet and support subsequent migration waves. Currently, over 16 million users have completed mainnet migration, and 17 million users have passed KYC verification. This large-scale token transfer marks a further improvement in Pi Network's migration infrastructure, with significantly enhanced backend readiness.

The IoTeX network has completed a version upgrade, resumed operation, and committed to fully compensate users affected by the ioTube incident. 99.5% of abnormal minting has been intercepted, and hacker funds have also been locked. The team is working with exchanges to restore trading and strengthen security measures to prevent similar incidents from happening again.

Meta plans to re-enter the stablecoin market in the second half of the year with a more cautious approach, opting not to issue stablecoins themselves but to seek third-party technical support. This move reflects lessons learned from the Libra failure and adapts to the new regulatory environment. The restructuring of cryptocurrency regulation in the United States offers the possibility of compliant operations, while the social platform's inherent payment scenarios also make a closed-loop payment system feasible.

Japanese digital transformation company Digital Garage, credit card giant JCB, and financial holding company Resona jointly announced that from February 24 to March 2, 2026, they will conduct a stablecoin physical payment experiment at PARCO in Shibuya, Tokyo. The test will involve self-custody wallets for USDC (Base chain) and JPYC (Polygon chain), with merchants settling payments in Japanese Yen.

The Ethereum Foundation disclosed on February 25 that it has staked 2,106 ETH (approximately $3.8 million) as the initial step in operating a long-term treasury, with the goal of gradually staking up to 70,000 ETH (about $127 million) to generate native yields. At the same time, co-founder Vitalik Buterin sold over 3,100 ETH through a decentralized exchange, totaling more than $6.1 million.

Fintech company TruStage plans to collaborate with blockchain technology company Block Time Financial to launch the stablecoin TSDA (TruStage Stablecoin), which is pegged 1:1 to the US dollar. The pilot project is scheduled to launch in the first half of 2026, with extensive recruitment of credit unions to join. TruStage currently serves approximately 93% of credit unions in the United States.

Pi Network development team released ecosystem data on the first anniversary of the mainnet launch, showing significant growth in migrated users, KYC completion rates, and merchant acceptance. Technical indicators also show potential bullish signals. However, the PI token is currently down more than 20% from the February 15 high of $0.2067, and has fallen over 90% from its all-time high.