- Banxa receives KYB approval, allowing legal Pi transactions in 100+ countries.
- Users can now buy Pi with fiat, enhancing global accessibility.
- PI price rises to $0.60, with a potential breakout toward the $1 mark.
In a major development for the Pi Network ecosystem, global fiat-to-crypto payment gateway Banxa has officially received Know Your Business (KYB) approval. 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.
The approval comes after Banxa had temporarily suspended Pi transactions, likely due to pending compliance requirements. During this pause, reports surfaced that Banxa had already accumulated millions of Pi tokens at low prices, positioning itself for a strong re-entry once legal barriers were cleared.
Buy Pi with Cash Now Possible
With KYB approval in place, Banxa users across multiple regions can now buy Pi using fiat currencies, removing one of the biggest hurdles to onboarding non-crypto-native users. This opens the door for faster adoption, especially in countries where Pi has strong grassroots communities but limited exchange support.
In parallel, other platforms such as BitMart and HTX are reportedly in line to receive KYB approval within the next 10 days. This signals growing 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.
Related: Is Pi Network on the Verge of a Breakout? Fresh Roadmap Fuels 4% Price Bump
Price Action: $1 Target in Sight?
Following the news, PI token saw a 4% uptick, surging back to the $0.60 range. At press time, PI is trading at $0.5900.
Meanwhile, the token is facing unyielding selling pressure due to ongoing token unlocks. Notably, the network has seen an unlock of 6.511 PI tokens worth $3.84 million yesterday, and another $5.5 million tokens will be unleashed today.
Related: Pi Coin Update: Price Dips After 4.9 Million Tokens Unlock, But Whales Accumulate
Nonetheless, analysts point to $0.70 as the next significant resistance level for PI Coin. A break above could open the path toward $1, a psychological milestone that would reflect increased market confidence in Pi’s ecosystem.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
