Banxa platform secured KYB approval, enabling direct Pi purchases with fiat currencies in 100+ countries, easing access to Pi Network. Despite this milestone, Pi price has seen limited movement so far, despite regulatory progress.
With the approval of Know Your Business (KYB), Banxa can now enable users from over 100 countries to directly purchase Pi Network tokens with fiat currencies.
This major milestone signifies a breakthrough in the accessibility of Pi Network, moving away from peer-to-peer transactions to offer a simpler and more secure solution, especially for newcomers to the crypto space.
The KYB regulatory framework, similar to the KYC (Know Your Customer) process for individual users, ensures that companies like Banxa adhere to strict standards. Only KYB-approved platforms are permitted to facilitate Pi exchanges, while individuals must go through KYC verification and use non-custodial wallets for over-the-counter transactions.
Banxa’s approval could soon be followed by other major players such as BitMart and HTX, who are also on track to obtain their KYB certification in the coming days. Broader support from key exchanges should enhance the visibility and trading volume of Pi Network.
With the approaching Consensus Summit 2025, the increasingly compliant Pi ecosystem could position itself as a serious contender in the ever-evolving digital currency landscape.
Despite this crucial regulatory advancement, the price of Pi has seen minimal movement recently. Currently, the token is trading around $0.59, with an RSI of 44.58, indicating weak buying momentum.
Likewise, the On-Balance Volume (OBV) remains flat at -13.87 million, indicating limited investor interest and volume. Unless more pronounced bullish signals or new listings on major exchanges emerge, Pi is likely to continue in a consolidation or retracement phase.
With a Point of Control (POC) at $0.64, Pi will need an influx of new capital and serious volumes to break through this resistance.
Furthermore, a new uptrend line has formed and could be tested in the coming hours or days. Pi could potentially retreat to the support at $0.52.
However, Pi still appears poised to rise to $0.60. The tightening of the Bollinger Bands signals that it’s time for Pi to move.
In a bullish scenario, it would target $0.60 and then $0.80. Conversely, a drop could lead it to $0.53 or even $0.40 to $0.45.
Therefore, close monitoring in the coming days for Pi and staying updated on listings is crucial. It is currently available on the reputable exchange Bitget, here is a guide to acquire the token right away:
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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