Pi Network has made a major announcement on Pi2day that is sure to shake up the world of cryptocurrency. The network has officially partnered with Banxa and Onramper, two well-known fiat-to-crypto platforms that streamline the process of buying and selling crypto using traditional currencies such as dollars, euros, and rupees.
This partnership is a game-changer for everyday Pi users, as it now allows them to easily convert Pi Coins into fiat and vice versa without having to navigate through complex crypto exchanges. With popular payment options like credit cards, Apple Pay, Google Pay, and bank transfers, users can now purchase Pi Coins using their local currency as easily as shopping online. Additionally, users can sell their Pi for cash directly into their bank accounts, providing a clear path for those who have been holding Pi for years but had no way to cash out.
Banxa’s role in this partnership is crucial, as they have already purchased over 30.5 million Pi tokens, totaling nearly $19 million, to ensure there is enough supply for trading. This means transactions can now be smoother and faster, eliminating the need for users to wait days for their orders to go through. Banxa is also assisting new users in opening Pi wallets by handling KYC checks, making it easier for more people to start using Pi.
Onramper, on the other hand, offers Pi Network users more options for buying Pi Coins by bringing together multiple fiat-to-crypto providers, including Banxa and others, in one place. While not as deeply integrated as Banxa, Onramper still makes Pi Coin more accessible, especially in regions where Banxa may not be available.
Despite these exciting developments, Pi Coin’s price remains stagnant in the red zone, with a recent drop of 3.6% from $0.57 to approximately $0.5356. The looming unlocking of nearly 337 million new Pi tokens in July could further push the price down to around $0.40 if demand does not increase.
Overall, the partnership between Pi Network, Banxa, and Onramper represents a significant step forward in simplifying the process of buying and selling Pi Coins, making it easier for users to convert their digital assets into fiat currency and vice versa. With these new partnerships in place, Pi Network is poised to attract more users and expand its reach in the world of cryptocurrency.