#Cryptocurrency #Armenia #Yerevan #Bybit Pay #Idram

Bybit Pay Bridges Web3 and Retail Payment in Armenia

On October 21, 2025, Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced a strategic partnership with Idram, a leading digital payment provider in Armenia. This collaboration is set to bridge Web3 cryptocurrency transactions with traditional retail payment systems in the country, showcasing Bybit Pay’s commitment to establishing efficient global payment solutions for digital asset holders.

To celebrate the launch, a special inauguration ceremony will take place in Yerevan on October 22, 2025, where key stakeholders from both Bybit and Idram will engage with industry partners in the fintech and payment community. The goal is to demonstrate their collective commitment to evolving digital payment infrastructures and innovation across the region.

The partnership aims to introduce a comprehensive suite of payment services, providing users the ability to conduct transactions via QR codes at over 25,000 retail points across Armenia. With Idram commanding a remarkable 90% market share in QR payments within the country, it has been offering compliant and innovative digital solutions for over two decades. The company provides merchants access to a unified market spanning the Eurasian Economic Union, which is home to over 185 million residents.

International Bybit Pay users will also benefit from a seamless payment process while travelling throughout Armenia. Sophie Chen, Head of Marketing for Bybit’s Payment Business Unit, stated, “Bybit and traditional fintech companies are natural partners. Our expansion into Armenia, supported by Idram’s network, signifies a step forward in extending our global reach and enhancing cryptocurrency convenience for our community. We value forming deep, impactful partnerships that create lasting value for local communities.”

In a similar vein, Arsene Kdenian, CEO of Idram, remarked, “This partnership underscores Idram's commitment to innovation and strengthening global connections. By integrating our QR system with Bybit Pay, we can offer foreign tourists a convenient and secure means to make payments while visiting Armenia.” The collaboration recognizes the nascent but rapidly expanding adoption of cryptocurrencies worldwide, enabling Bybit users to execute payments effortlessly in Armenia using their digital asset management applications.

How QR Payments Work
1. Users scan the merchant’s QR code using the Bybit Pay app (selecting “Bybit Pay” -> “QR Pay”).
2. A payment confirmation window opens within seconds, displaying transaction details.
3. Users hit “Confirm” to validate and complete the payment.

Bybit Pay is continuously unveiling new opportunities for its users, while concurrently fulfilling a broader mission of providing global access to financial services. This native cryptocurrency payment method is currently available for eligible individuals worldwide who successfully complete the necessary identity verification process on Bybit. Users from restricted countries or local entities not aligned with Bybit’s operations are not supported at the present time. For the latest updates and detailed terms, users can refer to Bybit Pay's official website.

Bybit, founded in 2018, serves over 70 million users and is recognized for its commitment to security, diverse markets, and user-friendly interfaces within the decentralized finance space. It focuses on creating an open and equitable ecosystem that caters to all participants in the cryptocurrency landscape. With a burgeoning interest in Web3, Bybit is forming strategic alliances with leading blockchain protocols to bolster infrastructure and advance innovation in the blockchain environment.

In summary, the partnership between Bybit Pay and Idram not only enhances payment capabilities in Armenia but also reflects the growing integration of cryptocurrency within the broader financial ecosystem. Users can now look forward to a more accessible and efficient way to utilize digital currencies in their retail transactions, thus paving the way for future innovations in the region.

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