BANXA Expands Its On-Ramp Platform to Include Pi (PI)

BANXA, a top-tier crypto on-ramp platform, has achieved a significant milestone by obtaining Know Your Business (KYB) approval

A top-tier crypto on-ramp platform, BANXA, has achieved Know Your Business (KYB) approval for legal and direct purchases of Pi coin (PI) with fiat currencies in over 100 countries.

This development, reported by Okay.ng, marks a significant milestone for the Pi Network, expanding its global accessibility and market reach.

Previously, users had to rely on peer-to-peer (P2P) trading channels for buying and selling Pi coin. However, KYB approval now enables seamless and secure fiat transactions for buying Pi.

This direct purchase capability is poised to boost Pi's liquidity and trading volumes significantly.

KYB compliance is a regulatory standard that verifies a business's legitimacy and regulatory adherence, similar to individual-focused Know Your Customer (KYC) processes. Only companies approved through KYB processes can legally conduct Pi coin transactions.

Individual users trading Pi through P2P methods are still required to pass KYC checks and use non-custodial wallets, ensuring secure, transparent, and fraud-resistant operations. This dual-layered compliance framework reinforces the Pi Network's commitment to building a secure and trustworthy digital currency ecosystem.

The Pi Network's adherence to stringent KYB and KYC standards sets it apart in a cryptocurrency landscape often plagued by compliance issues and fraudulent activities. This regulatory alignment makes Pi increasingly appealing to institutional investors and mainstream users, who are placing greater emphasis on legal and compliant investment opportunities.

In addition to BANXA, other prominent cryptocurrency platforms, such as BitMart and HTX, are reportedly nearing their own KYB approvals, potentially within the next 10 days.

This would further expand Pi's availability and liquidity to a broader audience.

The timing also coincides with the approaching Consensus 2025 Summit, an event that is expected to highlight the Pi Network's expanding influence in the digital asset market.

Currently, Pi (PI) is trading around $0.5865, marking a 1.33% increase over the past 24 hours. Its market capitalization sits at approximately $4.13 billion, with trading volume surging more than 32% to $39.48 million within the same period.