PI Cryptocurrency Network Green-Lights Banxa KYB, Unlocking Global Pi Access

Imagine trying to join a concert, only to be told you need a special wristband first. For years, purchasing PI Cryptocurrency felt a bit like that—exciting, but gated.

The Pi Cryptocurrency core team has green-lit Banxa’s Know-Your-Business (KYB) verification, the on-ramp giant announced on 3 May.

This authorizes Banxa to sell Pi in over 100 countries, converting everyday cash or cards into Pi Coin in seconds.

The move unlocks a crucial stage in Pi’s global rollout.

Why Is KYB Important?

KYB is like a company-focused version of KYC (Know-Your-Customer). To get KYB, Banxa had to undergo extensive diligence. This included demonstrating strong anti-money laundering (AML) policies, a robust internal controls framework, and full compliance with relevant financial regulations in each region it operates.

Only KYB-cleared firms are permitted by regulators to list or custody Pi Coin. For individuals, the mirror requirement is KYC plus a non-custodial Pi wallet—another layer in Pi’s “trust first” philosophy.

This approach is designed to build trust gradually with authorities and users alike.

After months of preparation, Banxa has now received approval from the Pi Network core team to use its on-ramp services to sell Pi to individual users in the countries where Banxa is authorized.

“We are excited to announce that Banxa has received KYB approval from Pi Network core team to sell Pi to individual users in the countries where Banxa is authorized. Banxa is a trusted and regulated cryptocurrency on-ramp that enables users to easily buy and sell cryptocurrency using their local fiat currency and payment methods. Banxa’s integration with major cryptocurrency wallets and exchanges provides users with a seamless and convenient experience,” a spokesperson for Pi Network core team said.

“We are pleased to welcome Banxa to the Pi Network ecosystem and look forward to a successful partnership.”

What Happens Next?

With BanXa’s KYB now approved, the next step is for BitMart and HTX to complete their KYB procedures, which are expected to take around 10 days.

Following KYB clearance, both exchanges are expected to apply for listing on both BitMart and HTX.

Once listing approval is granted, both exchanges will announce the news via email and on their website.

“We are grateful for the trust that Pi Network has placed in Banxa. We look forward to providing users in new territories around the world with a simple and localized way to buy Pi, whether through Visa, SEPA, UPI, or another preferred method,” a Banxa spokesperson said.

“We are excited to be part of the Pi Network ecosystem and to contribute to the broader adoption of cryptocurrency.”

Expert Insight

Alex Ward, Head of Research at DeFiScope Analytics, said: “Pi Network is betting on compliance as its moat. Banxa’s KYB approval shows that bet is paying off. In a crowded DeFi landscape, this could be a key differentiator for Pi in the long run.”

PI Cryptocurrency: Key Takeaways for Investors

A mobile-first blockchain project that lets users mine Pi Coin via a smartphone app and aims to enable everyday payments.

Its token, PI Cryptocurrency, is designed for broad adoption, with a focus on a gradual rollout to ensure compliance in each stage.

The project started in March 2019 with a small group of beta testers. It reached 70 million members by May 2025.

The project’s core team is composed of Stanford University Ph.D graduates, who have expertise in blockchain technology, cryptography, and economics.

It adopts a “trust first” philosophy, beginning with a decentralized node architecture for maximal community involvement.

As the project evolves, it’s incrementally introducing measures like non-custodial wallets and KYC/KYB to align with varying global regulations.

This approach is designed to build trust with authorities and users at each stage of the project’s expansion.

The project’s vision is to create a parallel cryptocurrency economy that runs on a coin people can easily use for everyday payments.

To reach that goal, it’s focused on providing accessible on-ramps in local currencies and preferred payment methods.

That’s in contrast to many cryptocurrencies, which are largely inaccessible to the vast majority of people due to complex registration procedures and a lack of local fiat on-ramps.

As the project progresses, it’s aiming to integrate with major fiat rails and payment providers to ensure a smooth user experience.