A few days ago, Banxa temporarily suspended Pi transactions, likely due to pending KYB (Know Your Business) approval. During this time, it was widely known that Banxa had already acquired millions of Pi at low prices, suggesting they planned to return once regulatory approval was in place.
Banxa Now KYB Approved — Pi Available in 100+ Countries
Now, according to an update shared by Dr. Altcoin, Banxa is officially KYB approved. This is a big development for the Pi Network and its global community. With this approval, people in over 100 countries can now instantly buy Pi using cash through Banxa. This move also boosts accessibility and could drive greater adoption of the Pi Network.
More platforms are expected to follow. BitMart, HTX, and others are likely to receive KYB approval within the next 10 days, showing growing institutional support for the project. It’s important to note that only KYB-approved companies are legally allowed to use and trade Pi. On the other hand, individuals participating in peer-to-peer (P2P) transactions must be KYC-approved and use non-custodial wallets.
$1 Target in Sight?
Meanwhile, Pi’s price has seen a decent rise. In the past 24 hours, $PI has climbed 2.5% and is now trading around $0.60. This comes after weeks of price pressure caused by ongoing token unlocks. However, with the pace of new unlocks expected to slow down after mid-May, the selling pressure could ease, giving room for potential growth. The next major resistance lies at $0.70. A breakout above that could open the path toward $1, a level that would signal stronger market confidence in the project’s future.
Credit: Source link