Banxa Receives Know Your Business (KYB) Approval to Support Pi Network Transactions

This regulatory clearance allows Banxa to legally support Pi transactions in over 100 countries. It marks a pivotal step forward in Pi's journey toward mainstream adoption.

Global fiat-to-crypto payment gateway Banxa has officially received Know Your Business (KYB) approval to legally support Pi transactions in over 100 countries. This development is a major step forward in the Pi Network's journey toward mainstream adoption.

After temporarily suspending Pi transactions, likely due to pending compliance requirements, Banxa had reportedly already accumulated millions of Pi tokens at low prices. This move positions the company for a strong re-entry once legal barriers are cleared.

Now, with KYB approval in place, Banxa users across multiple regions can buy Pi using fiat currencies, removing one of the biggest hurdles to onboarding non-crypto-native users. This will facilitate faster adoption, especially in countries where Pi has strong grassroots communities but limited exchange support.

In parallel, platforms such as BitMart and HTX are reportedly set to receive KYB approval within the next 10 days. This signals further institutional interest in supporting the Pi Network.

“Only KYB-approved platforms can legally trade Pi, while individuals must be KYC-verified and use non-custodial wallets for peer-to-peer transactions,” the update noted.

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