Bybit Kazakhstan Pioneers QR-Based Crypto Payments and Stablecoin Fee Transactions

Bybit Limited’s Kazakhstan branch, licensed by the Astana Financial Services Authority (AFSA), has successfully demonstrated a groundbreaking crypto transaction using a QR code. The live demonstration occurred at the Digital Bridge 2025 forum, Central Asia’s largest fintech event, marking a significant step toward merging blockchain innovation with national payment systems.

Through Bybit Pay, users can scan standard merchant QR codes to complete purchases directly from their crypto wallets. The system automatically converts crypto payments into Kazakhstani Tenge (KZT), allowing everyday purchases such as coffee or groceries with digital assets. This initiative highlights Kazakhstan’s growing role in global stablecoin adoption and its vision to integrate crypto solutions into mainstream finance.

Mazurka Zeng, Executive Director of Fiat & Pay at Bybit, emphasized Kazakhstan’s leadership in financial innovation, stating that digital assets are becoming part of daily life, promoting financial inclusion through blockchain technology.

The test was conducted in partnership with the National Payment Corporation of the National Bank of Kazakhstan, aligning with the nation’s goal of developing a secure, regulated digital economy. Once launched within the regulatory sandbox, QR crypto payments will be accepted at partner merchant locations, further embedding crypto utility within Kazakhstan’s payment infrastructure.

In a related milestone, SkyBridge Digital Finance Ltd., a licensed participant in the AIFC FinTech Lab, successfully executed the country’s first-ever regulatory fee payment in stablecoins using Bybit’s QR Pay system. Bybit Kazakhstan acted as the intermediary, converting the stablecoin payment to fiat for direct remittance to AFSA.

Ablaikhan Aubakir, Country Manager at Bybit Kazakhstan, noted that this achievement bridges compliance and convenience, setting a precedent for future institutional crypto adoption and reinforcing Kazakhstan’s position as a global digital finance innovator.