Bybit Pay's solution was announced at the Digital Bridge 2025 International Forum.
The crypto exchange previously officially submitted an application to the National Bank of Kazakhstan to participate in a special regulated regime—the "sandbox." The new technology is designed to simplify the use of cryptocurrency in everyday life. Users simply scan the merchant's QR code through the Bybit app, after which the payment is debited from their cryptocurrency account. For the merchant, the process remains the same: they receive payment in tenge thanks to automatic conversion through local licensed partners.
"The advantage is that you don't need to perform additional conversion; you can pay directly using your existing crypto assets. This is convenient because the commission is lower than converting cryptocurrency to tenge yourself and then paying through traditional payment systems. We are a licensed company in Kazakhstan, and all our assets are protected at the level of security required in our industry. We use methods such as two-factor authentication, Face ID, and fingerprint scanning," says Mazurka Zeng, head of the fiat and payments team at Bybit.
She added that the launch of Bybit's QR code payment service in Kazakhstan is closely linked to a national initiative and will be implemented within the National Bank of Kazakhstan's sandbox, jointly with the National Payment Corporation. Bybit Pay will become fully operational in Kazakhstan after the National Bank launches the national QR code payment option. Following the launch, all registered Bybit app users will be able to use the service without restrictions. They will also be able to receive cashback of 2-10%.
Bybit Pay is already available in Brazil, Argentina, Vietnam, and the Philippines. Plans are underway to launch in Mexico and Peru soon. Following the launch, users in Kazakhstan will be able to use the app for payments not only within the country but also in other countries where this technology is available.
As a reminder, on April 10, 2026, the PROFIT Retail & Finance Day conference will be held in Almaty, dedicated to new technologies in the retail and financial sectors of Kazakhstan.