Pi Coin Gains Legal Access in 100+ Countries
The Essentials at a Glance
The payment service provider Banxa has received KYB (Know Your Business) approval. This enables Pi Network to legally offer its cryptocurrency, PI, in over 100 countries in exchange for fiat currencies (traditional currencies such as the Euro or US Dollar). This development significantly improves access to PI – especially for users with no prior crypto experience. Despite this regulatory success, the price of the PI Coin remains stable and shows little market movement.
What Does KYB Mean for Pi Network?
KYB stands for “Know Your Business” and is a verification process for companies, similar to the KYC (“Know Your Customer”) process for individuals. Only platforms with KYB approval are allowed to trade PI tokens within a regulated framework. For users, this means they can now purchase PI directly with fiat currency via Banxa – without the need to go through peer-to-peer (P2P) exchanges.
This lowers the entry barriers for new users, as no wallets or P2P knowledge are required. Banxa handles identity verification and ensures secure transactions.
Broader Availability Through Additional Platforms
In addition to Banxa, larger trading platforms such as BitMart and HTX may soon follow. Both are reportedly close to receiving KYB approval. This would further improve access to PI and increase trading volumes. The growing regulation and platform support could make PI more appealing to institutional investors in the long term.
Another milestone for Pi Network is its upcoming participation in the Consensus 2025 Summit – one of the most important industry events in the crypto space. The project could gain additional attention there.
PI Coin: Price Remains Stable Despite Progress
Although KYB approval is a significant step, the price of the PI Coin is currently showing little movement. At the time of publication, the price was around $0.5915 USD. The Relative Strength Index (RSI) stood at 44.58 – an indication of weak buying momentum, but not yet an oversold condition.
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The On-Balance Volume (OBV), an indicator of trading volume, also remained low at -13.87 million. This points to limited investor interest. Without new catalysts, such as listings on major exchanges or positive market trends, the price is likely to continue moving sideways.
Our Assessment
Banxa’s KYB approval is an important step forward for Pi Network. It lays the foundation for regulated, global availability of the PI Coin. For beginners in particular, this makes access easier and more secure. However, the market is currently showing restraint – the price is barely reacting to the positive news.
In the long term, the combination of regulatory clarity, growing platform support, and institutional interest could position PI more strongly in the market. In the short term, however, the coin remains in a consolidation phase.
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