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Will Pi Network’s Future Change? A Detailed Explanation of the Impact of Banxa’s KYB Approval!

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New Developments in Pi Network! What Does Banxa’s KYB Approval Mean?

The cryptocurrency project “Pi Network,” which has attracted attention for allowing mining on smartphones. Recently, there has been a significant development within the Pi Network ecosystem. “Banxa,” a company providing cryptocurrency payment services, has passed Pi Network’s KYB (Know Your Business) verification.

Many of you may have wondered, “What kind of company is Banxa?”, “What changes with KYB approval?”, or “Can it be used in Japan?”. This article will explain in an easy-to-understand way about the company Banxa, how this KYB approval will affect Pi Network users and the entire ecosystem, and also whether users in Japan can use it.

What Kind of Company is Banxa? A Bridge Between Fiat Currency and Cryptocurrency

Banxa Holdings Inc. is a fintech company that provides infrastructure for smooth exchange between fiat currencies (such as Yen and Dollars) and cryptocurrencies (such as Bitcoin and Ethereum).

Banxa Company Overview

Item Details
Year Established 2014
Headquarters Location Melbourne, Australia
Main Business Provision of Cryptocurrency Payment Infrastructure (Web3 On/Off Ramps)
Service Details Brokerage for Buying/Selling Cryptocurrency/NFTs with Fiat Currency
Business Expansion Regions Global (North America, Europe, etc.)
Listed Markets TSXV (Canada), OTCQX (USA), FSE (Germany)
Relationship with Pi Network Official Partner who has passed KYB (Know Your Business) verification

The Importance of “KYB Verification” in Pi Network

KYB (Know Your Business) is like the corporate version of identity verification (KYC: Know Your Customer). It is a process where Pi Network reviews and verifies whether companies it partners with are real, legally operating, etc.

Pi Network emphasizes KYB for the purpose of improving ecosystem safety, ensuring overall project reliability, and future mainstreaming (penetration into society). KYB is an essential step in eliminating fraudulent companies and building a foundation for regulatory compliance.

Specific Impacts Brought by Banxa’s KYB Approval

So, what specific changes can be expected now that Banxa has passed Pi Network’s KYB verification? Here are the main impacts summarized by target.

Impacts of KYB Approval

Target Expected Benefits/Impacts
Pi Network Users
  • Possibility of Safe and Legal Pi Purchase Methods: Opens the way to purchase Pi with fiat currency (e.g., USD) via a trusted platform. (*Availability depends on Banxa’s supported countries and currencies)
  • Improved Convenience: If purchases with credit cards etc. become possible, access will be easier.
Pi Network Ecosystem
  • Increased Reliability and Security: Collaboration with verified companies enhances the overall safety of the ecosystem.
  • Promotion of Global Adoption: Potential expansion of regions where Pi can be used through Banxa’s network.
  • Progress Towards Mainstreaming: Collaboration with regulatory-compliant companies is a step towards greater social acceptance.
Banxa (Company)
  • New Business Opportunities: Access to Pi Network’s massive user base.

Can Japanese Users Use It? Current Situation and Points to Note

While we have discussed the benefits of Banxa’s KYB approval so far, it is considered unlikely that Japanese users can purchase Pi using Japanese Yen or other currencies through Banxa at this time (May 2025).

The main reasons are as follows:

  • Japanese Regulations: To provide services for buying and selling crypto assets (virtual currency) using fiat currency in Japan, registration as a “Crypto Asset Exchange Service Provider” with the Financial Services Agency is mandatory. There is currently no information indicating that Banxa has completed this registration.
  • Banxa’s Japan Support: It is currently unclear whether Banxa has officially launched services for the Japanese market.

In conclusion, for Japanese users to be able to trade Pi through Banxa’s services, the conditions for Banxa to obtain approval from Japanese regulatory authorities (Financial Services Agency) must be met. Until then, please wait for official announcements from the official sources. Be very careful with unofficial information or services.

Summary: A Step Towards Pioneering the Future of Pi Network, But Understanding the Current Situation is Also Important

Banxa’s KYB verification approval in Pi Network is bright news indicating the project’s future potential. It raises expectations for a safer and more convenient user environment for users, and for increased reliability and accelerated global adoption for Pi Network.

However, it is important to understand that, especially for Japanese users, it is not immediately available. Based on regulations and project progress, let’s calmly observe future developments.

Pi Network Now Available on Banxa Payment Solution!

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Early April 2025, Pi Network (abbreviated as PI) showed astonishing price movements. Around the 5th of the same month, it recorded a temporary surge of as much as 100% from its lowest price of $0.40 to a relative high of $0.80, after which it hovered around $0.65. What was behind this dramatic price fluctuation? Was it merely a temporary rise due to market liquidity absorption, or was there some significant underlying factor? This article delves into the truth behind the Pi Network price surge (at that time) and what it signifies.

Direct Trigger for the Price Surge: Banxa Starts Supporting PI Purchases

The main factor behind the price increase at that time was that “Banxa,” a provider offering fiat currency and cryptocurrency payment solutions, began supporting the purchase of Pi Network through its platform.

This support made it easier than ever for users to purchase Pi Network tokens (PI). Specifically, it became possible to directly purchase PI using common payment methods such as:

  • Apple Pay
  • Google Pay
  • Mastercard
  • Visa

This represents a significant change from the traditional purchase process. Previously, to purchase PI, users had to use specific cryptocurrency exchanges and, in many cases, first exchange fiat currency like USD for stablecoins like USDT (Tether). However, with Banxa’s support, it became possible to skip this intermediary process and purchase PI directly using credit cards or mobile payment services. This made access to Pi Network significantly easier, even for users unfamiliar with cryptocurrency trading.

More Than Just Convenience: The Significance of Banxa Support

However, the significance of Banxa’s listing is not just that purchasing became easier. Experts regarded this as a very important milestone for Pi Network.

This is because the fact that a payment solution provider like Banxa started supporting the purchase of Pi Network means that Pi Network is gaining attention in the cryptocurrency industry and has the potential to influence discussions about its legitimacy.

At the time, many investors were skeptical about Pi Network, viewing it as a “scam” or a “disappointment.” However, the announcement of Banxa’s purchase support was seen as having the potential to overturn such negative perceptions and fundamentally change the view of Pi Network.

In other words, the price surge seen during this period might have indicated not just a technical analysis trend reversal, but also a significant turning point in terms of investor sentiment (fundamentals) regarding the project’s legitimacy and future prospects.

Overall Market Trends and Future Outlook

Although there was groundbreaking news about Banxa’s listing, it is premature to assume that the price of Pi Network will continue to rise in a straight line. It is important to remember that Pi Network is also one of the altcoins significantly influenced by the overall cryptocurrency market, especially the price movements of Bitcoin (BTC).

The cryptocurrency market has an unstable side, influenced by macroeconomic factors such as US monetary policy and global trade friction. These external factors affect the prices of altcoins, including Pi Network, through Bitcoin.

Therefore, even with positive news at the time, a sudden explosive price increase (“To the Moon”) was not guaranteed unless the overall market sentiment improved.

However, from a long-term perspective, this Banxa support was considered positive news for Pi Network. The accumulation of such positive news during a relatively sluggish market period is believed to hold the potential for accumulated energy to be released all at once when market sentiment improves and a bull market arrives in the future, leading to a significant price increase.

In fact, the very fact that Pi Network recovered its main price range of $0.60 and saw a 100% increase in a short period following the events at that time indicated its high potential. This is a phenomenon not often seen in many other cryptocurrencies.

Investment Precautions

While positive news about Pi Network is increasing, calm judgment is always required when investing. The content stated in this article does not recommend specific investment actions.

Investing in cryptocurrency involves price fluctuation risks. Any investment decision should be made at your own risk, after sufficient information gathering and research (DYOR – Do Your Own Research).

[Supplement] Currently, “PI” being traded on some exchanges and platforms may be an IOU (I Owe You) or something similar issued before the official launch of the Pi Network mainnet. This promises to be exchanged for actual Pi tokens when the mainnet is launched in the future, but its value or exchange is not guaranteed. It is important to fully understand this point when considering investment.

Summary: The Beginning of a New Chapter for Pi Network?

Banxa’s support for purchasing Pi Network was not just a technical update or convenience improvement, but a significant event with the potential to increase the project’s attention and change investor perception.

This made Pi Network more accessible to more people, while also raising expectations for improved project credibility. Although short-term movements are influenced by the overall market, from a long-term perspective, this news was seen as a bright sign for the future of Pi Network.

Moving forward, it will be necessary to continue watching how Pi Network launches its mainnet and what role it will play in the decentralized world.