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- Banxa enables direct Pi Coin purchases using fiat currencies and traditional payment options.
- Onramper expands access by aggregating multiple fiat-to-crypto payment providers for Pi users.
- Both platforms have completed KYB verification, supporting secure and compliant access to Pi Coin globally.
The Pi Network has integrated with Banxa and Onramper to improve fiat-to-crypto accessibility for its global user base. According to @Time_and_Trade on Twitter, this move enables easier transactions involving Pi Coin through various traditional payment methods. Banxa enables one to acquire Pi Coin by dealing directly with fiat currencies, including USD, EUR, or INR. Among the payment methods supported are credit and debit cards, bank transfers, Apple Pay, and Google Pay.
Such direct purchase does not require complicated exchange processes or transforming crypto into stablecoins in most jurisdictions. It also gives people who are not experienced with cryptocurrency transactions access to Pi.
Besides fiat on-ramping, Banxa is fiat off-ramping, where a user can convert his/her Pi Coin to an equivalent of local currency. The converted money can be deposited directly into their bank account, making Pi Coin more practical in real life.
Banxa’s Know Your Customer (KYC) services are also offered to Pi Network users using a feature called the mainnet micro. This enables users to enable their Pi Mainnet wallets quicker, as opposed to fully using the Pi Network homegrown KYC program.
Onramper Broadens Options Through Aggregated Payment Gateways
Onramper has a complementary role and aggregates the services of different on-ramp providers into a single and easy-to-use interface. It links the users of the Pi Network to an extended variety of services, payment, and fiat currencies.
Through its widget, Onramper enables users to buy Pi Coin securely using a variety of global payment options. It has undergone the Pi Network security and regulatory terms and the KYB process.
It has been reported that Banxa has purchased more than 30.5 million Pi Coins to facilitate liquidity, which has a value of about 19 million dollars. This kind of investment is aimed at facilitating transactions and reinforcing the market infrastructure of Pi Coin.
Both of these platforms can be accessed in more than 100 countries, yet they may not be accessible due to local finance laws. They will go a long way in solving the onboarding issue faced by users seeking to use Pi Network.
Banxa and Onramper have become vital access points between fiat users and the Pi Network. Such integrations help increase overall use and allow users to interact with the Pi Coin in real-life scenarios in an acceptable and safe manner.
Also Read: Binance Founder Warns of Deepfake-Fueled Hacks Targeting Crypto Industry via Video Calls
