Stablecoins Embrace Regulation: Bybit Kazakhstan Endorses AIFC Transaction Fees
Bybit Kazakhstan has made history by becoming the first exchange to sign a multilateral memorandum of understanding (MMoU) that marks the launch of a system allowing participants in the Astana International Financial Centre (AIFC) to pay regulatory fees using U.S. dollar-pegged stablecoins.
The collaboration between Bybit Kazakhstan and the Astana Financial Services Authority (AFSA) aims for efficiency while keeping compliance front and center. This move places Kazakhstan among countries actively weaving stablecoins into regulated payment channels.
The partnership builds on AFSA's new framework for digital asset providers, which gives licensed service providers permission to act as agents for regulatory fee payments via stablecoins. Bybit Kazakhstan will handle the technical layer through QR-based payments and a secure stablecoin wallet.
Mazurka Zeng, Chief Operating Officer at Bybit, described the step as a milestone. "This collaboration reinforces our compliant crypto role and brings efficiency through Bybit QR Pay and a dedicated stablecoin wallet for fee transactions," Zeng said.
The deal was unveiled during Astana Finance Days, a gathering that often sets the tone for Kazakhstan's financial sector. Bybit, one of the largest exchanges globally by trading volume, has secured a central role in this shift with its local arm in Kazakhstan.
Allowing fee payments in USD-pegged stablecoins makes AIFC faster and more accessible for businesses. The partnership brings efficiency through Bybit QR Pay and a dedicated stablecoin wallet for fee transactions.
The model could reduce friction for entrepreneurs and institutions who want faster settlement options without leaving a regulated space. Creating reliable digital payment methods is now part of modern regulatory practice, as emphasized by AFSA.
The partnership between AFSA and Bybit Kazakhstan signals a deeper role for stablecoins in regional financial ecosystems. A press release shared by Bybit details the collaboration.
Bybit will deliver a customized Bybit QR Pay solution alongside a dedicated stablecoin wallet for AFSA, designed to handle invoicing, provide transparency, and reduce manual processes.
Kazakhstan has opened the door to regulated stablecoin payments. The link between compliance and crypto utility gives this system weight in Kazakhstan's financial landscape. The collaboration aims to streamline processes while maintaining regulatory oversight, setting a precedent for other financial centres to follow.
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