BANXA Receives Know Your Business (KYB) Approval, Paving the Way for Legal Pi Coin Purchases in 100+ Countries

This marks an advancement for the Pi Network's mission to expand its global reach.

A leading crypto on-ramp platform, BANXA, has reportedly received Know Your Business (KYB) approval, paving the way for legal Pi coin purchases in more than 100 countries.

This development marks an advancement for the Pi Network's mission to expand its global reach and mainstream adoption.

Currently, due to a lack of KYB status, major crypto platforms are unable to handle Pi transactions directly, and new users have to rely on P2P trading to buy Pi, which can be an obstacle, especially for those new to cryptocurrency or without access to informal trading communities.

However, with KYB approval, users can now buy Pi coin directly from fiat currency—seamlessly, instantly, and securely.

This change is especially impactful for those new to cryptocurrency or those without access to informal trading communities.

To be clear, KYB is a compliance standard that ensures businesses, in this case, BANXA, meet regulatory requirements by verifying their identity and legitimacy—similar to the Know Your Customer (KYC) process required for individuals.

Only KYB-approved companies are authorized by the relevant institutions to legally trade and handle Pi transactions.

On the user side, individuals must pass KYC verification and use non-custodial wallets to trade Pi via P2P methods, such as Paxful or LocalBitcoins, for example.

This dual-layered system ensures safety, transparency, and fraud prevention, aligning with Pi Network's long-standing focus on building a secure ecosystem.

By enforcing both KYC and KYB standards, the Pi Network is carving out a reputation for trust and regulatory alignment—traits that are increasingly important in a cryptocurrency industry often challenged by scams and compliance issues.

Supporters believe this approach will make Pi more attractive to institutional investors and mainstream users alike.

Other major crypto platforms such as BitMart and HTX are reportedly close to securing KYB approval as well, possibly within the next 10 days.

If confirmed, this could further widen Pi’s availability and trading options across global markets.

The timing of these developments is symbolic, with the upcoming Consensus 2025 Summit expected to spotlight Pi's growing influence and technological advancements within the blockchain space.

With verified infrastructure and expanding access, Pi Network is quickly positioning itself as a major contender in the future of digital currency.

As of publication, Pi (PI) is trading at around $0.5865, showing a 1.33% rise in the past 24 hours. Its market capitalization stands at approximately $4.13 billion, with trading volume over the last day up by more than 32% to $39.48 million.