Banxa Now KYB Approved — Pi Available in 100+ Countries

A few days ago, Banxa temporarily suspended Pi transactions, likely due to pending KYB (Know Your Business) approval. During this time, it was widely known that Banxa had already acquired millions of Pi at low prices, suggesting they planned to return once regulatory approval was in place.

Now, according to an update shared by Dr. Altcoin, Banxa is officially KYB approved. This is a big development for the Pi Network and its global community.

"BANXA is now KYB approved!" the post reads. "What does this mean? It means people in over 100 countries can now instantly buy Pi with cash through BANXA. A huge moment for accessibility and global adoption."

This move follows a previous announcement by Pi that several major cryptocurrency exchanges, including BitMart and HTX, had also applied for KYB approval to list Pi in their respective markets. With BitMart and HTX expected to receive approval within the next 10 days, the stage is set for large-scale Pi trading.

It’s worth mentioning that only KYB-approved companies are allowed to use and trade Pi. On the other hand, individuals participating in peer-to-peer (P2P) transactions must be KYC-approved and use non-custodial wallets.

This news comes as Pi’s price has seen a decent rise. In the past 24 hours, $PI has climbed 2.5% and is now trading around $0.60.

This price increase follows weeks of pressure caused by the ongoing token unlocks, which had been putting a dampener on the token’s price performance. However, with the pace of new unlocks expected to slow down after mid-May, the selling pressure could ease, giving room for potential growth. The next major resistance lies at $0.70. A breakout above that could open the path toward $1, a level that would signal stronger market confidence in the project’s future.