Bybit and the National Bank of Kazakhstan launch a pilot project for cryptocurrency payments via QR code

At the Digital Bridge forum, Bybit Kazakhstan presented a prototype of the Bybit Pay service, which will enable cryptocurrency payments via QR codes in stores and point-of-sale locations.

The system works as follows: the user scans a QR code, confirms the amount in the Bybit app, and the cryptocurrency is automatically converted into tenge and transferred to the seller.

Bybit intends to test the solution in the regulatory sandbox of the National Bank of Kazakhstan and the National Payment Corporation to ensure security, transparency, and compliance with KYC/AML requirements.

If the pilot is successful, this payment method could gain widespread adoption, transforming cryptocurrencies from a niche asset into a means for everyday transactions.

Source: bybit.com