#Cryptocurrency #Armenia #Yerevan #Bybit Pay #Idram

Bybit Pay and Idram: Transforming Payments in Armenia

In a groundbreaking development for the digital economy in Armenia, Bybit, the world-renowned cryptocurrency exchange, has announced a strategic partnership with Idram, a leading local financial service provider. The collaboration, which represents a significant leap towards uniting the world of cryptocurrency with retail payment solutions, officially launches on October 22, 2025.

Committing to Innovation in Crypto Payments

This partnership aims to bridge the gap between digital assets and everyday retail transactions. With this initiative, Bybit Pay users can now enjoy a seamless shopping experience through the use of QR code payments at over 25,000 retail locations across Armenia. The introduction of this service is poised to facilitate a new era of digital payment capabilities, making it easier than ever for users to utilize their cryptocurrency assets in a practical setting.

Sophie Chen, the Head of Marketing for Bybit’s Payment Business Unit, emphasized the synergy between traditional fintech and cryptocurrency sectors, stating, "Bybit and traditional fintech companies are natural partners. Our expansion to Armenia, backed by Idram’s extensive network, marks a crucial step in enhancing our community's accessibility to crypto convenience."

The Launch Event

The launch ceremony will take place in Yerevan, Armenia, where key stakeholders from both Bybit and Idram will gather to present this innovative collaboration. The event will serve as a platform to showcase the commitment both companies share towards bolstering the digital payment infrastructure in the region, ultimately paving the way for more dynamic financial interactions within the community.

Empowering Merchants and Consumers Alike

Idram has been at the forefront of innovative payment solutions for over two decades and holds an impressive 90% market share of the QR payment sector in Armenia. By integrating their robust QR system with Bybit Pay, merchants can tap into a unified marketplace that services audiences across the Eurasian Economic Union, which encompasses more than 185 million potential consumers.

This collaboration not only benefits local merchants by increasing their payment options, but also offers international users of Bybit Pay a hassle-free payment method during their travels to Armenia. They can now transact in local shops using their crypto wallets with just a few taps on their mobile devices, thanks to the user-friendly QR code payment system.

How to Use Bybit Pay

The payment process is straightforward:
1. The user scans the retailer's QR code using the Bybit Pay app.
2. A payment confirmation window appears within seconds, detailing the transaction.
3. Users simply tap 'confirm' to finalize their purchase.

A Future of Global Financial Accessibility

Bybit Pay is steadily unlocking new avenues for its user base while making strides towards global financial accessibility. Currently available to eligible global users who have completed the Identity Verification process on the Bybit platform, this payment solution is a testament to their commitment to bridging the gap between conventional finance and the decentralized finance sector (DeFi).

As cryptocurrency usage continues to evolve globally, the partnership between Bybit Pay and Idram is not just about transactions; it represents a forward-thinking approach to integrating digital finance into daily life. Users from service-restricted countries or local Bybit entities may have limited access, but for those eligible, this initiative marks exciting times ahead.

For further information on Bybit and its offerings, visit Bybit's official site. Stay updated with the latest developments in this evolving partnership through Bybit’s communities and social media channels.