BANXA Gets Pi Network KYB Approval to Sell Pi Coin Globally

Crypto commentator Dr. Altcoin has revealed that payment platform Banxa has secured Pi Network’s KYB approval to sell Pi coin globally. This development is undoubtedly bullish for the altcoin, considering how this could boost the altcoin’s adoption and possibly spark a price surge.

Banxa Secures Pi Network KYB Approval

In an X post, Dr. Altcoin revealed that Banxa is now KYB approved for the Pi network. He explained what this means for the Pi community, noting that people in over 100 countries can now instantly buy the Pi coin with cash through the payment platform. The crypto expert added that this is a game-changer for accessibility and global adoption of the altcoin.

The payment platform joins top crypto exchanges like MEXC and Bitget, which already secured KYB approval for the Pi Network. Dr. Altcoin stated that exchanges BitMart and HTX will likely receive their approval within the next 10 days, which he claimed is a “clear sign” that the Pi Network is moving in the right direction.

As he noted, only KYB-approved companies like Banxa can legally use and trade the Pi coin, which is why this development is significant both for the Pi Network community and the Pi coin price. Meanwhile, only those involved in P2P transactions must be KYC-approved and use non-custodial wallets.

The crypto commentator affirmed that the Pi Network has made security and trust its top priorities from day one by ensuring they verify every user and business through the KYC/KYB process. Based on this, he affirmed that Pi is not just another crypto but one that is building the foundation for a trusted, global adoption.

Why Platforms Are Willing To Go Through The Pi Network’s KYB Process

In another X post, Dr. Altcoin explained why centralized exchanges (CEXs) and platforms like Banxa are willing to go through this “long, strict, frustrating” process for the Pi Network’s KYB approval. He stated that the Pi project focuses on five key pillars, which is why it is generating so much interest.

He mentioned financial inclusion as the first pillar, noting that Pi’s ecosystem promotes universal access to fair, transparent, and efficient digital payment systems. The second pillar is interoperability, with the network scaling digital networks, ensuring fungibility, and enabling seamless financial interactions.

Dr. Altcoin mentioned identity verification, currency programmability, and decentralized financial systems as the third, fourth, and fifth pillars. Meanwhile, the crypto expert highlighted Stellar and OKX as Pi Network’s initiative partners. The Pi Blockchain runs on the Stellar Consensus Protocol (SCP). OKX is the first CEX to receive KYB approval from the Pi Network team.

Amid Banxa’s KYB approval, the Pi Network’s mainnet wallet activation has fueled speculation of a Pi coin listing on Binance. A Binance listing will be huge for the Pi coin, considering how it will further expand the altcoin’s adoption.