Pi Network Partners Banxa Onramper for Faster Fiat Transactions

Pi Network, a prominent cryptocurrency platform, has recently made significant strides in enhancing the usability and accessibility of its native token, Pi Coin. The network has secured strategic partnerships with Banxa and Onramper, two leading payment facilitators, to enable direct fiat transactions for Pi Coin. This development allows users to buy and sell Pi Coin using real-world currency, a feature that had previously been limited.

Banxa, a regulated payment facilitator, has taken a leading role in this initiative by acquiring over 30.5 million Pi Coins, valued at approximately $19 million. This acquisition is set to enhance liquidity and facilitate easier conversion between fiat and Pi Coin. With Banxa’s off-ramp feature, users can now convert their Pi Coins into national currencies and directly cash out to their bank accounts, streamlining the process significantly.

In addition to off-ramping, Banxa offers fiat on-ramping services in more than 100 countries. Users can purchase Pi Coin through various payment methods, including credit cards, debit cards, Apple Pay, and bank transfers. This integration eliminates the need for third-party crypto exchanges, simplifying transactions for users who are not familiar with crypto trading.

Banxa also verifies the Know Your Customer (KYC) process for Pi Network users. This service allows users to activate their Pi Mainnet wallet without going through the network’s native KYC process, enabling new users to unlock their wallets quickly while maintaining security measures.

Onramper, another partner of Pi Network, operates as an on-ramp aggregator. It provides users with access to multiple fiat-to-crypto services through a single widget, offering a wider range of payment methods and fiat options by aggregating providers like Banxa and Ramp Network. This collaboration allows Pi Network users to buy cryptocurrencies through local payment systems, providing greater flexibility and convenience.

While Onramper’s role is not as direct as Banxa’s, it facilitates wider access to Pi Coin and offers users more options for purchasing tokens. The partnership with Onramper complements Banxa’s full fiat on-ramp and off-ramp integration, marking a significant turning point for Pi Network. With these expanded options, Pi users can now buy or cash out their coins more efficiently and securely, enhancing the overall user experience and accessibility of the Pi Coin ecosystem.