Bybit Pay Bridges Web3 and Retail Payment in Armenia

DUBAI, UAE, Oct. 21, 2025 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, is pleased to announce a new strategic partnership between Bybit Pay and Idram, Armenia's established financial service provider and digital payment powerhouse. The integration underscores Bybit Pay's unwavering commitment to building crypto's global payment rails through incremental, localized initiatives that bring real-life benefits to digital asset holders.

To mark the official debut of Bybit Pay's collaboration with Idram in Armenia, a launch ceremony will take place on October 22, 2025 in Yerevan, Armenia. Key stakeholders from Bybit and Idram will address fintech partners and the payment community in the region, unveiling their shared commitment to advancing digital payment infrastructure and innovation across the region.

Joining forces to launch comprehensive payment services in Armenia, Bybit Pay and Idram will enable users to make QR code payments in the country at over 25,000 in-store points of sales. With over 90% in QR payment market share in Armenia, Idram specializes in compliant and innovative digital payment solutions and has been serving the community for over two decades.

For merchants, Idram enables a single-point access within the uniformed market of Eurasian Economic Union countries, home to over 185 million people. International users of Bybit Pay will also get to enjoy a seamless payment experience with just their app when they travel to Armenia.

"Bybit and traditional fintech companies are natural partners. Bybit Pay's expansion to Armenia powered by Idram's network is another step in building our global reach and elevating crypto convenience for our community," said Sophie Chen, Head of Marketing, Payment Business Unit at Bybit. "We are committed to establishing deep, meaningful partnerships that create lasting value for local communities."

"This partnership demonstrates Idram's commitment to innovation and strengthening global connections," said Arsene Kdenian, CEO of Idram. "By integrating our QR system with Bybit Pay, we enable international visitors to make convenient and secure payments while visiting Armenia. At the same time, recognizing that the use of cryptocurrency just started to develop worldwide, this collaboration allows Bybit users to make payments already in Armenia with their digital assets app at more than 25,000 points of sale in an easy and accessible way," added Kdenian.

Scan to Pay with QR Code - How it Works

1. The user scans merchant QR code with the Bybit Pay app (by choosing "Bybit Pay" -> "QR Pay")
2. In a few seconds the payment confirmation window opens, displaying the transaction details
3. The user taps "Confirm" to approve and complete the payment

Bybit Pay continues to unlock new destinations for its users while advancing the broader mission of global financial accessibility. The crypto-native payment solution currently serves eligible global users who have successfully completed Identity Verification on Bybit. Users from Service Restricted Countries or local Bybit entities are not currently supported. For the latest updates and detailed terms and conditions, users may visit the Bybit Pay official page.

Bybit / CryptoArk / BybitPay

About Bybit

Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
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About Idram

Founded in 2004, Idram is Armenia's premier digital financial platform, offering comprehensive services including e-wallet, QR/NFC payments, money transfers, and other financial tools to individuals and businesses. For more details about Idram, please visit idram.am.

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