Pi Network has granted Know Your Business (KYB) approval to Banxa, a leading fiat-to-crypto payment gateway. The move enables Banxa to legally facilitate Pi coin transactions in over 100 countries, marking a transformative step in Pi Network’s effort to scale its ecosystem beyond the confines of its mobile mining user base.
This regulatory milestone not only strengthens Pi Network’s compliance framework but also opens the door to fiat-to-Pi transactions, simplifying access for millions of new users worldwide. The approval reinforces Pi’s broader ambitions to become a fully compliant, decentralized financial system, especially as its long-awaited Mainnet launch draws closer.
Banxa’s KYB Approval: What It Means for Pi Coin
The KYB approval process ensures that Banxa meets the highest global standards for handling business-related cryptocurrency transactions. Pi Network is committed to legal compliance, transparency, and long-term sustainability by aligning with international regulatory frameworks.
Thanks to this approval, users can now buy Pi coins directly through Banxa using local fiat currencies—a first for many Pi community members. This integration is expected to:
Eliminate the reliance on peer-to-peer transactions
Enhance transaction security
Increase user trust
Improve liquidity for Pi across participating platforms
“KYB approval of Banxa is a pivotal step toward Pi Network’s vision of bridging traditional finance with decentralized Web3 applications,” said a Pi Core Team spokesperson in a community update.
Pi Coin Price Struggles Near $0.58: What’s Next?
Despite the bullish sentiment surrounding the Banxa approval, Pi Coin continues to face significant price pressure near the $0.58 support level. As of May 2025, Pi is trading around $0.5865, showing a modest 1.33% increase in the past 24 hours.
Price Table: Pi Coin Market Snapshot
| Metric | Value |
|---|---|
| Current Price | $0.5865 |
| 24H Price Change | +1.33% |
| Market Capitalization | $4.13 Billion |
| 24H Trading Volume | $58 Million |
| Support Level | $0.58 |
| Resistance Level | $0.62 |
Technical analysts note that if Pi fails to hold the $0.58 level, it could slide toward $0.53, a level not seen since early March. However, a confirmed bounce backed by growing adoption and integration news could drive a retest of the $0.62 resistance and possibly aim for the $0.68 range in the near term.
Why This Partnership Matters for Web3 and Crypto Accessibility
Banxa’s inclusion in the Pi ecosystem isn’t just about technical transactions—it represents a larger shift in crypto accessibility. By facilitating fiat-based Pi purchases in over 100 countries, including key markets in Asia, Europe, and Latin America, Pi is setting itself up for mass onboarding of Web2 users into the Web3 world.
Key implications of the partnership include:
Financial inclusion: Individuals without access to traditional banking or complex exchanges can now own crypto.
Simplified onboarding: No need for external wallets or token swaps.
Lower risk: Regulated KYB integration ensures higher security and reduces scams.
This is especially critical for Pi Network, which already boasts over 40 million engaged users but has yet to fully unlock external tradability on major centralized exchanges.
What’s Ahead: BitMart, HTX and a Full-Fledged Mainnet
According to industry insiders, Banxa’s KYB approval could be the first of many. Platforms such as BitMart and HTX (formerly Huobi) are rumored to be in line for KYB clearance as well, further expanding the liquidity and reach of Pi Coin.
More importantly, this series of developments signals a potential timeline acceleration for Pi Network’s Mainnet release, which remains one of the most anticipated launches in crypto. Once Pi fully exits its enclosed testnet phase, the influx of officially sanctioned trading channels could dramatically shift the token’s market dynamics.
Analyst Take: “A Long Game, Finally Turning Real”
Industry analysts remain cautiously optimistic. While Pi Network has long faced criticism for its extended testnet and lack of transparent tokenomics, the Banxa news suggests a maturing ecosystem.
“This KYB approval is not just a partnership—it’s a gateway to real-world value. If Pi can continue delivering on regulatory compliance and technical scalability, it could turn skeptics into believers,” said Miguel Foster, senior analyst at ChainDesk Insights.
Still, questions remain. Will Pi eventually list on Tier 1 exchanges like Binance or Coinbase? Will the network withstand the volatility of open trading? These answers may come sooner than expected.
Conclusion: Pi Network Begins New Chapter of Utility
The approval of Banxa by Pi Network is a strategic move that finally grounds Pi’s theoretical ecosystem in real-world utility. It signals a future where Pi isn’t just a mined asset on mobile phones, but a tradable, usable currency in the global crypto economy.
With price currently consolidating around a key support level, all eyes are now on whether technical resilience and regulatory progress can align to drive the next Pi bull wave.
As Banxa opens fiat ramps to over 100 countries, Pi Network is no longer just an idea—it’s rapidly becoming a financial infrastructure.
FAQs
What is KYB and why does it matter for Pi Network?
KYB (Know Your Business) verifies the legitimacy of crypto service providers. It ensures Banxa meets global standards, making Pi transactions safer and legal in over 100 countries.
Can I now buy Pi coins with fiat currency?
Yes, through Banxa’s platform, users can legally purchase Pi using fiat in supported countries, marking a major breakthrough in accessibility.
Is Pi Coin listed on major exchanges?
Not yet. Pi remains in its enclosed Mainnet phase, but the Banxa approval and potential upcoming partnerships suggest wider listings are on the horizon.
Will the Banxa approval affect Pi’s price?
Potentially, yes. Regulatory integration usually strengthens investor confidence and could positively impact market sentiment and liquidity.
Glossary
KYB (Know Your Business): A compliance process ensuring businesses handling crypto meet legal and ethical standards.
Banxa: A global fiat-to-crypto gateway enabling seamless conversion of fiat to cryptocurrencies.
Mainnet: The final and fully operational version of a blockchain network.
Fiat Currency: Traditional government-issued money such as USD, EUR, or INR.
Sources and References
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
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