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.

Public Demonstration at Digital Bridge Astana

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.

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Author: Crypto Daily™