Expanding Crypto Payments in Armenia: Bybit Pay and Idram Partnership

The world of digital finance continues to evolve, and Armenia is now at the forefront of this transformation thanks to a significant partnership between Bybit Pay and Idram. Bybit, known as the second-largest cryptocurrency exchange by trading volume, has teamed up with Idram, a leading Armenian financial services provider, to enhance the accessibility and convenience of cryptocurrency payments throughout the country.

A Strategic Partnership for Progress

Through this collaboration, Bybit Pay aims to establish a robust global infrastructure for crypto payments, leveraging local partnerships to bring tangible benefits to digital asset users. This initiative is part of Bybit's broader strategy to integrate cryptocurrency into everyday financial transactions.

The partnership was officially launched with a ceremony on October 22, 2025, in Yerevan, Armenia, where executives from both companies gathered with fintech partners and regional industry leaders. The event highlighted their shared goal of driving innovation in digital payments and enhancing financial connectivity in the region.

Seamless Crypto Payments Across Armenia

One of the key outcomes of this partnership is the introduction of QR code generator payments at over 25,000 locations throughout Armenia. This development not only simplifies the payment process for consumers but also supports merchants by providing access to the expansive Eurasian Economic Union market, which includes more than 185 million consumers.

Bybit Pay users, including international visitors, can now enjoy a seamless transaction experience through the app's QR code payment functionality while in Armenia. This initiative underscores Bybit Pay's commitment to broadening financial accessibility and convenience for its users worldwide.

How Bybit Pay QR Code Payments Work

Utilizing Bybit Pay's QR code payment system is straightforward and efficient:

1. The user opens the Bybit Pay app and selects the “QR Pay” option.
2. They scan the merchant's QR code to initiate the payment process.
3. A payment confirmation window appears, displaying the transaction details.
4. The user confirms the transaction to complete the payment.

This streamlined process ensures quick and secure transactions, enhancing the user experience for both local and international customers in Armenia.

Benefits for Merchants and Consumers

Idram's infrastructure, which commands over 90% of Armenia's QR payment market, provides a reliable platform for merchants looking to integrate digital payments into their operations. This accessibility is particularly beneficial for businesses seeking to reach a broader audience, including the extensive market within the Eurasian Economic Union.

For consumers, the ability to use cryptocurrency for everyday purchases represents a significant step towards mainstream adoption of digital currencies. Bybit Pay's integration with Idram not only facilitates these transactions but also enhances the security and efficiency of payment processes.

Looking Ahead: Expansion and Innovation

As Bybit Pay continues to expand its reach, the company remains focused on supporting broader financial inclusion and accessibility. While the service is available globally to users who have completed Identity Verification on Bybit, it is worth noting that users from Service Restricted Countries or local Bybit entities are currently not supported.

This partnership with Idram sets a precedent for future collaborations aimed at integrating cryptocurrency into everyday financial activities. Bybit Pay is poised to play a pivotal role in shaping the future of digital payments, offering innovative solutions that meet the evolving needs of consumers and businesses alike.

In conclusion, the cooperation between Bybit Pay and Idram marks a significant milestone in the advancement of cryptocurrency payments. By enabling QR code payments at a vast number of locations across Armenia, this initiative not only supports the local economy but also reinforces Bybit Pay's commitment to facilitating secure and convenient digital transactions.