Pi Protocol Selects Solana as Native Blockchain to Enable Cost-Efficient Stablecoin Adoption
DUBAI, UNITED ARAB EMIRATES / ACCESS Newswire / April 18, 2025 / Pi Protocol, the innovative new stablecoin venture led by Tether co-founder Reeve Collins, today announced the adoption of Solana (SOL) as its native blockchain network. This strategic decision positions Pi Protocol to leverage Solana's superior transaction speeds and lower costs for its USPi network token, while maintaining Ethereum (ETH) compatibility for its USP stablecoin.
Pi Protocol features a unique three-token architecture: the USP stablecoin (pegged to the US dollar), the USI yield token, and the USPi governance token. The USP stablecoin is backed by tokenised real-world assets (RWAs) including money market funds, US Treasuries, and insurance assets. The USI yield token captures and maximises returns generated from the underlying collateralised assets and the USPi token governs the protocol.
'Solana provides the ideal infrastructure for programmable capital,' said Bundeep Singh Rangar, CEO of Pi Protocol. 'We can give users immediate access to yield as well as our USP stablecoin backed by institutional-grade real-world assets. By extending USP across both ETH and SOL networks, we can tap into Ethereum's established ecosystem and liquidity, as well as Solana's performance advantages.'
Pi Protocol's USPi governance token and USI yield token will be built on Solana, while the USP stablecoin will operate across both Ethereum and Solana networks via a proprietary in-house ETH-SOL bridge. This software will contain custom smart contracts and middleware functionality, ensuring seamless integration with enhanced compliance and cross-chain fund visibility. This architecture creates a foundation for future expansion to additional blockchains beyond Ethereum and Solana such as Cardano, Polkadot, Stellar, Sui and The Open Network (TON).
'Stablecoins are no longer just a dollar-pegged utility, they're evolving into dynamic assets that reward users directly, leveraging DeFi and on-chain RWAs to deliver value that was unimaginable a decade ago,' said Reeve Collins, co-founder of Pi Protocol and co-founder of Tether. 'With Solana's infrastructure, we're delivering a decentralised stablecoin ecosystem that combines the security of real-world asset backing with the performance needed for mainstream financial applications.'
The choice to build on Solana aligns with broader market trends toward faster, more cost-efficient blockchain infrastructure. Solana currently processes nearly 100 million transactions daily at an average cost of just $0.00025 per transaction, compared to Ethereum's higher fees exceeding one dollar per transaction. Solana can process more than 2,600 transactions per second (TPS), while Ethereum currently handles around 15 TPS. This speed makes Solana one of the fastest blockchain networks, allowing it to offer lower fees and better scalability.
Ethereum remains the dominant stablecoin network, however, with approximately $122 billion in circulation (over half the $233 billion total market). Launched in 2020, five years after Ethereum, Solana has emerged as the third most popular stablecoin network with roughly $13 billion, according to DeFiLlama.com
Pi Protocol's aims to position USP within the top blockchain ecosystems for decentralised finance (DeFi) activities. Currently, the total value locked (TVL) in DeFi exceeds $90 billion, with RWA representing $20 billion. Ethereum leads with $55 billion in DeFi activity, while Solana's $7 billion places it third behind Bitcoin's $8 billion.
For more information about Pi Protocol and its USP stablecoin, visit www.piprotocol.com
About Pi Protocol
Pi Protocol is a decentralised finance (DeFi) infrastructure to collateralise and monetise blockchain based yield-bearing real world assets (RWA) via issuance of USP stablecoins pegged to the U.S. dollar. Its governance will be driven and conducted by holders of its USPi network token.
For more information, please connect at:
[email protected]
www.piprotocol.com
https://x.com/piprotocol
https://www.linkedin.com/company/piprotocol/
------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER:
Crypto assets are unregulated investment products prone to sudden and substantial value fluctuations, presenting a high risk of total loss of the invested capital. The information presented herein is not intended as a financial promotion. This material has been produced for circulation to a limited number of professional investors and journalists. If you are unsure whether this asset is suitable for your individual circumstances, it is highly recommended to obtain independent financial and legal advice.
SOURCE: PI TECHNOLOGIES, LTD
press release
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
USA Today
4 hours ago
- USA Today
How to overcome the fear of crypto
Many newcomers entering the world of cryptocurrencies confront a significant challenge known as fear. It's entirely normal to feel apprehensive when engaging with something unfamiliar or new, as one often experiences anxiety regarding comprehension, potential financial losses, or the intricacies of asset management. However, there is one potential solution. INWAY AKTIENGESELLSCHAFT, a company based in Liechtenstein, has designed an app called IronWallet. IronWallet is a non-custodial multi-currency cryptocurrency wallet designed to provide users with a secure and user-friendly platform for managing their digital assets. This application accommodates a diverse array of cryptocurrencies, making it an adaptable choice for new users as well as seasoned traders. For those trying a cryptocurrency wallet for the first time, the initial interaction with the IronWallet app is simple. IronWallet features an intuitive interface that allows users to receive, send, store and swap various cryptocurrencies with ease. The app includes straightforward instructions and prompts, simplifying the process of handling digital currencies for users. The developers of IronWallet - INWAY AG, made sure that the interface stays simple and familiar to those who use online mobile banking apps. At the same time the emphasis was made to keep the IronWallet app as an anonymous crypto wallet, so there is no KYC procedure, no email or phone number required. The seed phrase, or otherwise called the key phrase, is saved and kept only on your device, thus maintaining security and privacy for its users. In the IronWallet app it is possible to find support for the most popular blockchains and tokens, including Bitcoin, Ethereum, Tron, Solana, etc. There is no need to know the hash codes for various cryptocurrencies, or to install addons. The app has everything built in. Users can buy, sell and exchange coins and tokens in one place. For the convenience of making payments, it is also possible to scan the QR code of the address where the crypto is being sent and generate one to receive crypto. This eliminates human errors while typing the address manually. The interfacemakes locating the desired tokens easy with a convenient sorting system. Transaction history is also capable of hiding the so-called 'dust' transactions, where spammers send miniscule amounts to your wallet trying to trigger you to send them some crypto back by mistake. The app also supports an unlimited amount of wallets and users can simply swipe left or right to switch between them. Moreover, the application supports 21 languages and is available for download via the most popular app stores including the Apple App Store and Google Play Market, Samsung Galaxy, Xiaomi Mi Store, Huawei App Gallery and a few others. IronWallet provides a distinctive NFC card that allows users to store and recover access to their wallets if they misplace or lose their phone. This cold crypto wallet offers top-notch security for digital assets. The NFC card is designed to keep the seed phrase safe and is encrypted with 256-bit security protocol. The cards can be purchased on Amazon stores across the world. Many individuals hesitate to engage with cryptocurrencies due to concerns about inadequate support and service. That is not the case here. INWAY AG, the company behind IronWallet, decided to provide 24/7 customer support to its users. You can chat to a person, not a bot, if you have any issues. IronWallet is constantly evolving, the new updates include fully revamped transaction history, better support for swaps, as not all networks are yet supporters as well as a unique feature on Tron and Ethereum networks where it is possible to send any currency without the native coin. This means you can send USDT or BTT and pay the network fees with the coin you are sending. Users no longer need to remember to keep the balance of ETH or TRX for this matter, This wallet has the potential to be more than just a simple storage; it can become a payment solution, as the mobile banking apps are replacing physical cards, IronWallet has the potential to become the same for crypto transitions making it a useful tool and an all-in-one software solution for digital assets. User-friendly design and the seamless transaction experience is the way this app alleviates any apprehensions users may have had about cryptocurrencies. IronWallet unlocks the door to digital money, allowing anyone to overcome the fear or crypto. Cryptocurrency Disclaimer: Engaging with crypto and crypto cryptocurrencies involves significant risk. Please understand the following before proceeding: High Volatility: Cryptocurrency prices can change dramatically and unpredictably. You could lose your entire investment. Risk of Loss: Investing in cryptocurrencies is speculative and carries a substantial risk of financial loss. Limited Regulation: Many cryptocurrency markets are unregulated, offering limited investor protection. Regulations can also change. Security Risks: Cryptocurrencies are vulnerable to theft and hacking. Secure your assets carefully. Do Your Own Research (DYOR): Thoroughly investigate any cryptocurrency before investing. Understand the technology and risks involved. Not Financial Advice: This information is for general awareness only and not a recommendation to buy, sell, or hold any cryptocurrency. Seek Professional Guidance: Consider consulting a financial advisor to understand if cryptocurrency is suitable for your financial situation. Invest only what you can afford to lose. You are solely responsible for your decisions Links:
CNBC
4 hours ago
- CNBC
Bitcoin sinks below $99,000 as U.S. strikes on Iran trigger crypto market sell-off
Bitcoin fell to its lowest level since May over the weekend, as rising tensions in the Middle East and renewed inflation fears triggered a sharp selloff across digital assets. Bitcoin dropped below the $99,000 mark on Sunday — its lowest point in more than a month — as the crypto market became the first to react to escalating geopolitical risk. Bitcoin is trading around $99,380, down more than 2% over the past 24 hours, while ether has dropped 5% to below $2,200. Solana, XRP, and dogecoin also posted sharp losses, dragging the entire crypto complex deep into the red. The selloff appears to be a combination of geopolitical shock and macroeconomic concern. Iran has reportedly threatened to block the Strait of Hormuz — a vital shipping lane that handles about 20% of global oil supply. JPMorgan warns that a full closure could drive oil prices as high as $130 per barrel. One prominent macro research firm notes that such a spike could send U.S. inflation back toward 5% — a level not seen since March 2023, when the Fed was still actively raising rates. That outlook has traders reassessing the path of interest rates — and rotating out of speculative assets like crypto. While bitcoin is often pitched as an inflation hedge, it's currently behaving more like a high-beta tech stock. According to crypto data provider Kaiko, bitcoin's correlation with the tech-heavy Nasdaq has climbed sharply in recent weeks, after hitting a multi-month low earlier this year — a period that coincided with surging inflows into spot bitcoin ETFs. Institutional positioning also appears to have shifted. More than $1.04 billion flowed into spot bitcoin ETFs from Monday through Wednesday last week, according to data from CoinGlass. But those inflows collapsed heading into the weekend, with zero net movement Thursday and just $6.4 million on Friday — coinciding with President Donald Trump's early G7 departure and the announcement of a two-week review of U.S. options on Iran. The technical breakdown added fuel to the selloff. CoinGlass research shows bitcoin's drop below $99,000 triggered forced selling across offshore derivatives platforms like Binance and Bybit. At its peak on Sunday, more than $1 billion in crypto positions were liquidated during a 24-hour span — with over 95% coming from long bets, underscoring just how overexposed the market was heading into the weekend.
Yahoo
4 hours ago
- Yahoo
Solana's SOL Falls 8% as Traders Brace for Fallout From a Spike in Oil Price
Solana (SOL) SOL is trading at $128.82, down 8.33% in the past 24 hours, after a steep intraday correction linked to rising geopolitical tensions. The token dropped from $140.39 to $127.25, with the sharpest hourly decline occurring at 13:00, when sell pressure spiked and trading volume exceeded 4 million, according to CoinDesk Research's technical analysis model. The market reaction followed confirmed reports of U.S. military strikes targeting Iranian nuclear sites, triggering widespread risk aversion across crypto markets. Some traders now worry that a closure of the Strait of Hormuz, even if temporary, could send oil prices soaring. That would likely stoke inflation, reduce the odds of near-term Fed rate cuts, and prolong the risk-off environment hurting crypto markets. A direct attack on the waterway could intensify the sell-off in altcoins, as bitcoin dominance historically rises during periods of geopolitical turmoil. SOL's decline also marked a break below key technical levels, including the 200-day simple moving average near $149.54. Throughout the session, SOL printed lower highs and struggled to sustain rebounds, pointing to weakening market structure. With elevated volume on red candles and technical indicators flashing bearish, traders are now watching the $120–$125 zone as a potential support area. Technical Analysis Highlights SOL dropped 8.1% from $140.39 to $129.02 during the analysis period, forming an $11.37 decline. The session's widest price range stretched from $141.14 to $126.85, a 10.2% intraday swing. The largest hourly drop occurred at 13:00, with price falling from $133.58 to $128.82 on 4.03M volume. A descending channel developed across the session, with lower highs and lower lows confirming bearish structure. Key resistance formed at $133.80, which capped multiple rebound attempts. Initial support emerged at $127.43, while a new intraday floor formed at $128.90. From 15:25 to 15:27, a volume spike pushed price below $129.30 during a continuation sell-off. Late-session movement showed SOL trading between $130.42 and $128.85 under consistent sell pressure. Several recovery attempts near $130.05 failed as volume increased on each rejection. Significant supply concentration appeared near $130.20, reinforcing short-term bearish momentum. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
