BANXA Receives KYB Approval, Opening the Door to Global Pi (PI) Coin Purchases

BANXA, a popular crypto on-ramp platform, has received KYB (Know Your Business) approval, marking a major step forward for the Pi Network.

This article reports on the recent approval of BANXA by Pi Network for KYB (Know Your Business) status, enabling the crypto on-ramp platform to offer Pi cryptocurrency purchases in over 100 countries. The article also mentions the pending KYB approval for BitMart and HTX, which could lead to Pi listing and trading on these platforms, further expanding its global reach.

The article highlights Pi Network's commitment to building a trusted and regulated ecosystem for cryptocurrency, setting it apart in an industry often plagued by scams and regulatory issues. This approach, according to Pi supporters, makes Pi more appealing to institutions and large-scale investors.

The article concludes by providing an overview of Pi's current market performance, highlighting its 24-hour price increase and the surging trading volume.

Here is a summary of the key points covered in the article:

* BANXA, a popular crypto on-ramp platform, has received KYB (Know Your Business) approval from Pi Network.

* This approval allows BANXA to offer Pi cryptocurrency purchases to people in over 100 countries.

* Users can now buy Pi coin directly with cash, instantly and securely.

* KYB-approved businesses can legally trade and handle Pi, while individuals need to be KYC-approved for P2P trading.

* Pi Network is focused on setting up a trusted and regulated ecosystem for crypto.

* BitMart and HTX are expected to receive KYB approval soon, which could lead to Pi listing and trading more widely.

* The upcoming Consensus 2025 Summit will discuss Pi Network's progress and future plans.

The article from Chainwire provides further detail on this story.

Popular crypto on-ramp platform BANXA has secured KYB (Know Your Business) approval from Pi Network, paving the way for the seamless purchase of Pi cryptocurrency by users in over 100 countries. This approval marks a significant step forward for Pi Network as it expands its global footprint and enhances accessibility for cryptocurrency enthusiasts worldwide.

Simple and Efficient Cryptocurrency Access with BANXA

With BANXA's KYB approval, users can now effortlessly buy Pi coin using cash, enjoying instant transactions and optimal security. This method of acquisition offers a seamless and efficient entry point for individuals who are new to cryptocurrency or prefer not to engage in peer-to-peer (P2P) trading methods.

''This is a significant step for Pi Network as we continue to expand our global reach and provide greater accessibility to cryptocurrency,'' said a spokesperson for Pi Network. ''We are committed to setting up a trusted and regulated ecosystem for crypto, and we believe that this is the best way to protect users and promote long-term growth in the industry.''

KYB-approved businesses are legally allowed to trade and handle Pi, while individuals who wish to trade Pi through P2P methods must be KYC-approved and use non-custodial wallets. This ensures that all transactions are conducted in a safe, secure, and compliant manner, safeguarding users from fraud and other malicious activities.

Enforcing Identity and Compliance Checks

From the outset, Pi Network has been dedicated to building trust and transparency in its operations. The platform enforces KYC (Know Your Customer) checks on users and KYB checks on businesses, setting the stage for a verified and secure ecosystem. This contrasts sharply with the crypto industry, which is still grappling with scams and regulatory issues in many regions.

This distinctive approach, according to Pi supporters, contributes to making Pi more attractive to institutions, large-scale investors, and the broader financial community. The integration of major platforms like BitMart and HTX, which are expected to receive KYB approval within the next 10 days, will further expand Pi's global footprint.

The upcoming Consensus 2025 Summit will delve deeper into Pi Network's progress and future plans as it continues to expand its reach and revolutionize the digital currency landscape.

Pi is currently trading at $0.5865, reflecting a 1.33% increase over the past 24 hours, and the market cap stands at $4.13 billion. The 24-hour trading volume has surged by 32.98%, reaching $39.48 million.