Important points
- Bybit has partnered with Idram to enable cryptocurrency payments at over 25,000 stores across Armenia.
- This integration will allow users to make QR code payments with cryptocurrencies, expanding access to finance in the region.
Bybit Pay, the global payments arm of cryptocurrency exchange Bybit, has partnered with Armenian digital payments provider Idram to enable cryptocurrency payments at over 25,000 retail stores across Armenia.
The integration, which will be launched tomorrow at a ceremony in Yerevan, will allow Bybit Pay users to make QR code payments at stores nationwide. Idram currently controls over 90% of Armenia’s QR payment market and has been serving local customers for 20 years.
“This partnership reflects Bybit’s commitment to blending traditional fintech with the convenience of cryptocurrencies,” said Sophie Chen, head of marketing for Bybit’s payments business. He said the partnership will expand the company’s reach and create value for the local community.
This integration will give merchants a single point of access to the Eurasian Economic Union market, which has a population of over 185 million people. International travelers using Bybit Pay can also make payments through the app while in Armenia.
Idram CEO Arsene Kdenian said, “This system allows Bybit users to pay with digital assets in thousands of locations across Armenia, strengthening the company’s leadership in QR payments.”
Bybit Pay continues to expand geographically to improve financial access, and the service continues to be available to verified users outside of countries where the service is restricted.
