Bybit Kazakhstan Showcases First-Ever QR-Based Crypto Payment At Digital Bridge 2025

In Brief

Bybit Kazakhstan demonstrated QR-based crypto payments and completed the country’s first stablecoin regulatory fee at Digital Bridge 2025, advancing compliant digital finance in Kazakhstan.

Cryptocurrency exchange Bybit Limited, operating in Kazakhstan as Bybit Kazakhstan and licensed by the Astana Financial Services Authority (AFSA), presented a new advancement in digital finance at Digital Bridge 2025, Central Eurasia’s largest international technology forum

In collaboration with the National Payment Corporation of the National Bank of the Republic of Kazakhstan, Bybit Kazakhstan demonstrated QR-based cryptocurrency payments in a test environment as part of its planned participation in the National Bank’s regulatory sandbox

Using Bybit Pay, users can scan a standard merchant QR code to complete purchases directly from their crypto wallets, with payments automatically converted into the national currency, the tenge (KZT).

“This is where digital assets become part of daily life,” said Mazurka Zeng, Executive Director of Fiat & Pay at Bybit, in a written statement. “Kazakhstan is one of the first countries in the world where you will be able to use a single wallet to pay for your morning coffee and much more over time. This is a real step toward financial inclusion powered by blockchain technology,” she added.

The initiative demonstrates Kazakhstan’s effort to securely integrate its payment infrastructure with the national financial system. Once implemented within the regulatory sandbox, QR-based cryptocurrency payments will be accessible at participating merchant locations, further supporting the adoption of digital assets within the country’s financial ecosystem.

Milestone For Stablecoin Use: First Regulatory Fee Paid Via QR Pay

In addition to consumer payments, Bybit Kazakhstan reached a regulatory milestone. During a side event at Digital Bridge 2025, organized by Bybit Kazakhstan, SkyBridge Digital Finance Ltd., a licensed participant of the AIFC FinTech Lab, completed Kazakhstan’s first regulatory fee payment in stablecoins using the Bybit QR Pay solution.

Bybit Kazakhstan served as the authorized provider, converting the stablecoin payment into fiat currency for direct transfer to AFSA, representing a significant step for compliant cryptocurrency use within the country’s regulated financial system.

“Our collaboration with AFSA and SkyBridge proves that digital finance innovation can coexist with strong regulatory oversight,” said Ablaikhan Aubakir, Country Manager at Bybit Kazakhstan, in a written statement. “Executing the first stablecoin-based fee payment bridges compliance with convenience and sets a precedent for future institutional adoption,” he added.

“The acceptance of our first fee in stablecoins marks a significant milestone toward a future-oriented financial ecosystem,” said Evgeniya Bogdanova, CEO of AFSA, in a written statement. “It highlights AFSA’s commitment to driving innovation and establishing secure, transparent, and adaptive regulatory frameworks that evolve with the pace of global financial transformation,” she added.

Mazurka Zeng took part in the panel “Stablecoins and the Future of Digital Finance” at Digital Bridge 2025, highlighting that stablecoins have the potential to connect traditional finance and decentralized finance, promoting secure and compliant digital payment solutions worldwide.