Kazakhstani startup S1lkPay announced a partnership with the international cryptocurrency exchange Bybit

Kazakh fintech startup S1lkPay has signed an agreement with the international cryptocurrency exchange Bybit, becoming the first Kazakh company in the region to implement the issuance of crypto cards with settlements in stablecoins.

Kazakh fintech startup S1lkPay announces a partnership with Bybit, one of the leading global cryptocurrency exchanges. As part of this partnership, S1lkPay will offer payment crypto cards that will allow settlements and clearing with the international payment system in stablecoins, such as USDT and USDC. This project is the first of its kind from a Kazakh company.

S1lkPay is the only non-bank financial institution in the region with a principal membership in MasterCard and a certified payment processing center. The signing of the agreement demonstrates both companies' commitment to innovation and technological progress in financial services, aimed at meeting the real needs of the region's residents.

In 2023, about one million Kazakhstani used cryptocurrencies, confirming the relevance and demand for the project. Thanks to the collaboration between S1lkPay and Bybit, there will be an opportunity to use crypto cards in the region.

Gani Uzbekov, founder and CEO of S1lkPay Ltd

We are pleased to partner with Bybit. Our goal is to turn digital currencies into a practical tool for financial transactions wherever cards of global payment systems are accepted.

Erik Aubakirov, founder of EA Group Holding LTD and one of the key investors in S1lkPay

S1lkPay is not just a fintech startup but a team setting trends. The partnership with Bybit opens up opportunities for S1lkPay users at the intersection of traditional finance and cryptocurrencies. This is a significant step forward not only for the company itself but also for the entire market. I believe in the S1lkPay team and the potential of our portfolio investment. I am confident that this partnership will advance Kazakhstan on the global fintech stage.