Dubai, UAE, September 29th, 2025, Chainwire
Bybit Limited (Bybit Kazakhstan), a crypto exchange licensed by the Astana Financial Services Authority (AFSA), formally applied to the National Bank of the Republic of Kazakhstan (NBK) for participation in the special regulatory regime, or sandbox, and has already begun testing its first pilot project for payments with digital assets via QR codes. Bybit Kazakhstan is ready to demonstrate the prototype, supporting Kazakhstan’s plan to test safe, useful and well-supervised digital finance under the central bank’s oversight.
Building the ecosystem with forward-thinking regulators
Bybit Kazakhstan is working toward participation in the National Bank of the Republic of Kazakhstan (NBK) and the National Payment Corporation of Kazakhstan sandbox environment for pilot testing where protective measures are a priority. Bybit Kazakhstan’s role is to bring product design, user experience and compliance operations that fit local rules and infrastructure. This work reflects our belief that strong oversight and good product design go hand in hand.
What the Pilot Involves
Verified users will scan a standard merchant QR code via a POS terminal or during an online purchase and then initiate payment in the Bybit Kazakhstan app using digital assets. The transaction is converted and settled in tenge through local partners. We apply audit-ready reporting, risk limits, and clear user prompts specifically designed for the pilot test environment.
The goal is simple: keep the merchant’s process familiar, add protective mechanisms for users, and provide regulators with practical data.
Key Principles
* Security first: applying KYC/AML mechanisms and audit-ready logs.
* Simplicity and speed for users.
* Minimal changes for merchants thanks to using standard QR payment methods.
* Full compliance with NBK oversight.
Bybit Kazakhstan will showcase the prototype in a test environment at its booth during Digital Bridge Astana, October 2-4, 2025. The demo will reflect both the formal sandbox application and the first pilot testing in progress. Stakeholders will be able to see real transaction scenarios and review both the technical and compliance aspects onsite.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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