Kazakhstan Takes a Big Step in Crypto Payments
Kazakhstan is making waves in the world of digital finance. At the Digital Bridge 2025 event, Bybit Kazakhstan showcased a revolutionary payment method using crypto. This isn't just any payment method—it's a QR code system that allows people to pay with crypto in everyday places. Imagine buying your coffee with crypto as easily as you would with cash. That's the future Kazakhstan is working towards.
A Seamless Payment Experience
This new system is part of a broader plan to integrate crypto into daily life. Bybit Kazakhstan collaborated with the National Payment Corporation to test this QR payment method. Users can scan a QR code and pay directly from their crypto wallets. The payment is then converted into the local currency, the tenge (KZT), making it effortless for people to use crypto in their everyday transactions.
A Historic Milestone
Kazakhstan also made history by paying a regulatory fee using stablecoins through the QR Pay system. This is a significant achievement as it demonstrates that crypto can be used in official settings. Bybit Kazakhstan worked with SkyBridge Digital Finance Ltd. to facilitate this transaction. They converted the stablecoin payment into fiat currency and sent it to the Astana Financial Services Authority (AFSA). This proves that crypto can be both innovative and compliant with regulations.
Leaders in Financial Innovation
Mazurka Zeng, Executive Director of Fiat & Pay at Bybit, stated that this is a major step toward financial inclusion. He believes that crypto can make financial services more accessible to everyone. Ablaikhan Aubakir, Country Manager at Bybit Kazakhstan, emphasized the importance of this milestone, highlighting how innovation and strong regulations can work together.
Evgeniya Bogdanova, CEO of AFSA, added that this initiative showcases Kazakhstan's commitment to driving innovation in the financial sector. She envisions this as the beginning of a future-oriented financial ecosystem that is secure, transparent, and adaptable to global financial changes.
The Future of Crypto Payments
This new payment method is currently being tested in a regulatory sandbox. Once fully launched, it will be available at partner merchant locations, further strengthening the role of digital assets in Kazakhstan's financial ecosystem. It's an exciting time for crypto in Kazakhstan, and the world is watching to see how this develops.