Pi Network Grants Know Your Business (KYB) Approval to BANXA

Pi Network recently granted Know Your Business (KYB) approval to BANXA, a popular crypto on-ramp platform.

Pi Network, the cryptocurrency project known for its unique approach to user onboarding and transaction security, has granted Know Your Business (KYB) approval to BANXA.

This move, which was recently announced by Pintu, a crypto on-ramp platform, marks a significant step in expanding accessibility and security in crypto transactions.

Here’s a closer look at the KYB approval process and its implications for Pi Network and the broader crypto industry.

Pi Network’s KYB Approval for BANXA

KYB approval is a crucial part of any legal and compliant business operation, especially in the sensitive domain of cryptocurrencies.

In essence, KYB approval is similar to the Know Your Customer (KYC) verification that individuals must go through when opening a bank account or using certain online services.

Only businesses that get KYB approval from Pi Network can legally trade and manage Pi. On the other hand, individuals who wish to trade Pi through peer-to-peer (P2P) methods must be KYC approved and use non-custodial wallets.

This double-layered approach to verification is designed to prevent fraud and ensure that all transactions are safe.

By implementing KYC for users and KYB for businesses, Pi Network builds trust from the start. This direct and focused approach makes Pi more attractive to institutions and serious investors.

It is also a bold move in a crypto industry that is still struggling with fraud and regulatory issues.

Pi Coin: Direct Purchase in Over 100 Countries

With KYB’s approval, users can now buy Pi Coin (PI) directly and securely. This is very helpful, especially for users who are new to crypto or who do not use P2P methods.

Pi Network has focused on building trust since its inception by tightening security and regulation. Other major platforms such as BitMart and HTX are also expected to receive KYB approval in the near future, possibly within the next 10 days.

If this happens, Pi could be listed and traded more widely, opening the door for faster adoption globally. This momentum will likely be a hot topic at the upcoming Consensus 2025 Summit.

Together with a secure and verified ecosystem and a growing global reach, Pi Network is positioning itself as a major player in the future of digital currencies.

Market and Future Prospects of Pi Coin

Currently, Pi Coin (PI) is trading around $0.5865, reflecting an increase of 1.33% over the past 24 hours, with a market capitalization of approximately $4.13 billion. The 24-hour trading volume has surged by more than 32%, reaching $39.48 million.

With global expansion and a verified system, Pi Network has great potential for further growth. The trust built through KYB and KYC processes attracts more investors and users, which in turn can increase the value and adoption of Pi Coin.

Overall, Pi Network’s initiative to grant KYB approval to BANXA and other major platforms is a significant step in making cryptocurrency more accessible and secure.

This move is expected to drive greater institutional participation and integration in the evolving digital asset landscape.