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Bybit Kazakhstan and AFSA Lead Stablecoin Payment Initiative

In a groundbreaking partnership, Bybit Kazakhstan, a leading cryptocurrency exchange, has teamed up with the Astana Financial Services Authority (AFSA) to enable the use of U.S. dollar-pegged stablecoins for paying regulatory fees within the Astana International Financial Centre (AIFC). This move, announced during the Astana Finance Days conference on September 4, 2025, marks a significant step in Kazakhstan's digital finance evolution.

Pioneering a New Era of Payments

Bybit Kazakhstan, a subsidiary of Bybit, which is recognized as the second-largest cryptocurrency exchange globally, has become the first signatory of a multilateral memorandum of understanding (MMoU) that permits licensed digital asset service providers to facilitate regulatory fee payments through stablecoins. This initiative underscores Bybit's commitment to fostering compliance and innovation in the rapidly developing digital finance ecosystem of Kazakhstan.

Mazurka Zeng, Chief Operating Officer at Bybit, expressed pride in being part of this transformative effort, stating, "As the first MMoU signatory, we see this as a strategic milestone that signals the trust placed in Bybit to deliver compliant, secure, and frictionless payment solutions." Bybit is set to provide the AFSA with a tailor-made QR payment solution and a dedicated stablecoin wallet for invoicing, enhancing both efficiency and transparency.

A Smarter Regulatory Framework

The AFSA's initiative to accept regulatory fees in stablecoins aligns with its vision to foster a modern, efficient financial center. AFSA Chief Executive Officer Evgeniya Bogdanova remarked on the importance of stablecoins in transforming global finance, stating, "By accepting regulatory fees in USD-pegged stablecoins, we make the AIFC faster, more open, and well-aligned with future requirements."

The incorporation of this payment method is not just about compliance; it represents a progressive step towards integrating traditional financial systems with emerging digital assets, promoting a robust ecosystem for both businesses and individuals.

Kazakhstan’s strategic move to embrace stablecoin payments positions the country as a trailblazer in regulated digital finance. The partnership with Bybit highlights a commitment to not only support innovation but also ensure compliance with international standards and regulations.

Building Bridges to the Future

Through this collaboration, Bybit and AFSA are working towards creating an infrastructure that empowers entrepreneurs and consumers, allowing them to seize opportunities in a borderless financial environment. This partnership is a testament to their shared vision of a future where digital finance is accessible, reliable, and compliant.

Bybit Kazakhstan is licensed by AFSA to operate a Digital Asset Trading Facility and offer money services related to digital assets. Its robust infrastructure aims to support institutions and enterprises engaging with digital assets, thus playing a crucial role in Kazakhstan's financial landscape.

In conclusion, Bybit Kazakhstan and AFSA's innovative approach to using stablecoins for regulatory fees not only simplifies the payment process but also exemplifies a future-focused financial ecosystem in Kazakhstan. With firms like Bybit leading the charge, the digital finance space is set to grow, paving the way for advancements that connect traditional finance with the emerging digital asset economy.

For more information about Bybit and its services, visit www.bybit.kz.

You can also follow the AFSA for updates on their initiatives at www.afsa.kz.