Bybit Kazakhstan has announced a strategic collaboration with the Astana Financial Services Authority (AFSA), allowing participants of the Astana International Financial Centre (AIFC) to pay regulatory fees using U.S. dollar-pegged stablecoins.
Overview of the Collaboration
This partnership comes after AFSA's announcement of a new regulatory framework that allows licensed digital asset service providers to act as agents for settling regulatory fees via stablecoins. Bybit became the first signatory of the multilateral memorandum of understanding.
Significance of the Initiative for AIFC
The agreement was announced during the Astana Finance Days conference and involves the implementation of a Bybit QR Pay solution and a dedicated stablecoin wallet, enhancing efficiency and transparency in the fee payment process for AIFC participants.
Comments from Bybit and AFSA Leadership
Mazurka Zeng, Chief Operating Officer at Bybit, emphasized that AFSA's initiative encourages active participation in innovative projects and the creation of an environment for seamless crypto payments. Evgeniya Bogdanova, Chief Executive Officer at AFSA, noted that accepting fees in stablecoins makes AIFC more modern and efficient.
The partnership between Bybit and AFSA highlights Kazakhstan's commitment to the development of regulated digital finance and showcases Bybit's dedication to supporting innovations that bridge traditional and digital financial ecosystems.
