#Armenia #Yerevan #Bybit Pay #Idram

Bybit Pay and Idram: Transforming Payments in Armenia

On October 21, 2025, in Dubai, United Arab Emirates, Bybit, the second-largest cryptocurrency exchange globally by trading volume, announced its strategic partnership with Idram, a prominent Armenian financial service provider and digital payment giant. This collaboration marks a significant step in integrating blockchain technology into everyday retail payments, bringing the benefits of digital assets to consumers in Armenia.

The Launch in Yerevan

A ceremonial launch event will take place in Yerevan, Armenia, on October 22, 2025, highlighting the partnership between Bybit Pay and Idram. Key figures from both companies will address partners within the fintech community, showcasing their shared commitment to developing a robust infrastructure for digital payments and innovations throughout the region. This initiative aims to elevate the quality of payment solutions available to consumers and businesses alike.

Expanding Payment Services

Bybit Pay and Idram have joined forces to provide comprehensive payment services across Armenia. Users will soon be able to make payments using QR codes at over 25,000 retail locations in the country. With Idram commanding over 90% of the QR payment market share in Armenia, this collaboration is positioned to create significant opportunities for both businesses and customers.

Idram specializes in innovative, regulation-compliant digital payment solutions and has been serving the Armenian community for over 20 years. Their established presence in the market, combined with Bybit Pay's cryptocurrency capabilities, offers a seamless integration for merchants and consumers. This partnership not only provides local access to cryptocurrency payments but also enables international Bybit users traveling in Armenia to enjoy a hassle-free payment experience through the Bybit Pay app.

A Natural Collaboration

"Bybit and traditional fintech companies are natural partners," stated Sophie Chen, Head of Marketing for the Payment Business Unit at Bybit. "Expanding Bybit Pay into Armenia, with the support of Idram's network, is another step in our journey to enhance global access and convenience for our cryptocurrency community." Bybit is committed to fostering deep and meaningful partnerships that add lasting value to local communities and drive growth in the digital economy.

Idram’s CEO, Arsene Kdenian, echoed this sentiment, emphasizing the partnership's innovative spirit. "Integrating our QR system with Bybit Pay enables international visitors to Armenia to pay safely and conveniently. As the use of cryptocurrencies grows worldwide, this collaboration will allow Bybit users to transact using their digital asset applications across more than 25,000 locations in Armenia effortlessly, making digital payments accessible and straightforward."

How QR Payments Work

The payment process using Bybit Pay’s QR system is straightforward:
1. Scan the Merchant's QR Code: Users scan the merchant’s QR code with the Bybit Pay app (selecting "Bybit Pay" > "QR Pay").
2. Transaction Details: Within seconds, a confirmation window displays the transaction details.
3. Confirm Payment: Users tap the “Confirm” button to approve and finalize the payment.

Bybit Pay continuously opens new pathways for users while advocating for broader financial accessibility on a global scale. This crypto-native payment solution is available to eligible global users who have successfully completed identity verification on the Bybit platform. Currently, the service is not supported for users from regions with limited access or by local Bybit entities. For more information on the latest updates and detailed contractual terms, visit Bybit Pay's official website.

About Bybit

Bybit, established in 2018, is the second-largest cryptocurrency exchange in the world by trading volume, catering to a global community of over 70 million users. The company is redefining openness in the decentralized world by creating a simpler, more accessible ecosystem for everyone. Bybit focuses significantly on Web3 and collaborates strategically with leading blockchain protocols to deliver a robust infrastructure and spur innovations in the industry. Known for its secure custody, diverse markets, intuitive experiences, and advanced blockchain-based tools, Bybit bridges the gap between traditional finance and decentralized finance, allowing builders, creators, and enthusiasts to harness the potential of Web3.

About Idram

Founded in 2004, Idram is a leading digital financial platform in Armenia offering comprehensive services, including e-wallets, QR/NFC payments, money transfers, and various financial tools for individuals and businesses. For more information about Idram, please visit idram.am.

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