Bybit Kazakhstan marked a milestone in the adoption of cryptocurrency payments in the country by showcasing the first-ever QR-code-based crypto transaction in Kazakhstan during the Digital Bridge 2025 forum. This event highlights the growing integration of digital assets into everyday financial activities.
Pioneering QR-Code Payments in Kazakhstan
In collaboration with the National Payment Corporation of the National Bank of the Republic of Kazakhstan, Bybit Kazakhstan demonstrated its crypto payment solution in a sandbox environment. The initiative is part of the country’s ongoing regulatory sandbox program, allowing users to scan a standard QR code at a merchant and pay directly from their crypto wallet. Payments are instantly converted into the local currency, tenge, ensuring convenience and compliance.
Mazurka Zeng, Executive Director of Fiat & Pay at Bybit, emphasized the significance:
“Digital assets are becoming part of everyday life. Kazakhstan is among the first countries where a single wallet can be used to pay for a morning coffee and eventually much more. This is a genuine step toward financial inclusion powered by blockchain technology.”
Once fully approved by regulators, QR-code crypto payments will be available at partner retail locations, bridging digital finance with the national financial system.
Landmark Regulatory Payment with Stablecoins
During Digital Bridge 2025, Bybit Kazakhstan also achieved a historic regulatory milestone. SkyBridge Digital Finance Ltd., a licensed participant of the FinTech Lab AFSA, successfully made the first-ever regulatory fee payment using stablecoins via Bybit’s QR Pay solution.
Bybit acted as the designated provider, converting stablecoins to fiat for direct transfer to the Astana Financial Services Authority (AFSA). This event represents a key step in integrating crypto payments into Kazakhstan’s regulated financial ecosystem.
Ablaikhan Aubakir, Regional Manager at Bybit Kazakhstan, noted:
“Our collaboration with AFSA and SkyBridge proves that digital finance innovation can thrive under strict regulatory oversight. Paying the first regulatory fee in stablecoins combines convenience with compliance, setting a precedent for corporate adoption.”
AFSA CEO Evgenia Bogdanova added:
“Accepting the first fee in stablecoins is a significant milestone in building a future-ready financial ecosystem. It underscores AFSA’s commitment to fostering innovation while maintaining transparent and adaptive regulatory frameworks aligned with global financial transformation.”
Promoting the Future of Digital Finance
Mazurka Zeng also participated in the panel discussion “Stablecoins and the Future of Digital Finance” at Digital Bridge 2025, highlighting that stablecoins can act as a bridge between traditional finance (TradFi) and decentralized finance (DeFi), enabling secure, regulated digital payments worldwide.
Bybit Kazakhstan’s QR payment demonstration illustrates the country’s commitment to innovation, financial inclusion, and the practical use of cryptocurrencies in everyday transactions.
