PiChain Mall has announced that it has completed the Know Your Business (KYB) verification document review stage, which is mandatory for doing business in the Pi Network ecosystem.
As per a recent post, PiChain Mall said, “Our team has been working on the Pi KYB process, and we’re delighted to announce that the documents we submitted for Know Your Business verification have been approved.”
However, they still await the final endorsement from the Pi Core Team before they can effectively serve as a verified business.
KYB verification is an operation that validates the legitimacy, security, and regulation compliance of businesses within the Pi Network ecosystem. This keeps only reputable businesses participating, thus improving security for members of the community.
The verification is carried out by Synaps, a third-party verification provider tasked with checking and certifying applications. Companies applying for KYB approval are charged a registration fee of $89, which is the cost of verification.
Once properly approved, PiChain Mall will provide safer and more sophisticated services to the Pi Network community.
Also Read: 24 Hours Left for Pi KYC, Last Chance to Finish It!
