Pi Coin up 1% as Banxa gets KYB approval, enabling Pi Coin purchases in 100+ countries
Analysts suggest that the current downward pressure—largely attributed to ongoing token unlocks—may ease after mid-May, providing scope for stabilisation.
Banxa Secures KYB Approval, Enabling Pi Coin Purchases in 100+ Countries
Global fiat-to-crypto provider Banxa has obtained Know Your Business (KYB) regulatory approval, allowing users in over 100 countries to purchase Pi Coin with cash. This milestone significantly enhances the Pi Network’s accessibility and global legitimacy amid ongoing price volatility and increasing regulatory scrutiny.
The announcement marks Banxa’s return to Pi Coin transactions following a temporary suspension, during which speculation arose about the platform accumulating Pi at lower prices. Observers suggest that Banxa timed its re-entry to coincide with regulatory compliance, potentially restoring user confidence and boosting trading volume.
According to Banxa, only KYB-approved entities can now facilitate Pi Coin transactions legally. Individuals must undergo Know Your Customer (KYC) verification and use non-custodial wallets for peer-to-peer (P2P) transfers. Other exchanges, including BitMart and HTX, are expected to receive KYB clearance within 10 days, indicating rising institutional interest in Pi Coin.
Launched as a mobile mining project, the Pi Network has grown to over 47 million users globally. However, the coin has faced criticism over liquidity issues and limited exchange listings. Pi Coin’s price has dropped roughly 82% from its all-time high of $3 to around $0.50, though it has recently shown signs of recovery, rising 2.5% in the past 24 hours. Analysts believe current price pressures, driven by ongoing token unlocks, may ease after mid-May, with the next resistance level at $0.60. A breakout could fuel a rally toward $1, signaling renewed market confidence.
Banxa’s approval not only strengthens Pi’s transaction infrastructure but also highlights a broader industry trend: increasing regulatory demands for transparency and compliance. As regulators tighten their grip on digital assets, such developments are crucial for the long-term credibility of blockchain-based projects.
The Pi Network team has reiterated its commitment to achieving full mainnet launch and broader exchange integration in 2025. The project’s ongoing focus is on completing KYC processes for millions of users, stabilizing the ecosystem, and rolling out decentralized applications (dApps) to drive utility and demand for the coin. Community engagement and transparent development updates will remain key in navigating market skepticism.
The reactivation of Pi purchases through Banxa may also serve as a model for how other Web3 projects can build regulatory pathways for mass adoption. By complying with KYB and KYC standards, platforms like Pi can transition from experimental networks into legitimate financial ecosystems with real-world use cases and global reach.
While Pi still faces challenges, including establishing fiat liquidity and exchange support, Banxa’s approval could be a turning point. As more regulated ramps become available and the project matures, Pi’s path toward mainstream relevance may become clearer, offering cautious optimism to both early adopters and prospective investors.
