Bybit Pay Partners with Idram to Bridge Web3 and Retail Payments in Armenia
Bybit Pay Expands Global Payment Reach Through Armenia Integration
, the world’s second-largest cryptocurrency platform by trading volume, has announced a strategic partnership between and , Armenia’s leading digital payment provider. The collaboration represents a major milestone in Bybit Pay’s mission to connect crypto and real-world payments through localized partnerships that drive tangible adoption.
To commemorate the launch, Bybit and Idram will host an official ceremony in Yerevan, Armenia on October 22, 2025. The event will bring together fintech leaders, regulators, and partners to discuss digital infrastructure development across the Eurasian region and highlight how blockchain-powered payment answers can integrate with national fintech systems.
“ and traditional fintech companies are natural partners,” said Sophie Chen, Head of Marketing, Payment Business Unit at Bybit. “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. We are committed to establishing partnerships that create lasting value for local economies.”
Investor Takeaway
QR-Based Payments Connect Crypto and Commerce
Through this partnership, Bybit Pay users will be able to make QR code payments at more than 25,000 retail points of sale across Armenia. Leveraging Idram’s vast infrastructure — which commands over 90% market share in the Armenian QR payments space — the collaboration enables both locals and visiting Bybit users to spend crypto effortlessly in everyday transactions.
For merchants, the integration provides unified access across the Eurasian Economic Union — a market of more than 185 million consumers. Bybit Pay’s international users can pay instantly with their app while visiting Armenia, further expanding the usability of digital assets beyond online ecosystems.
“This partnership demonstrates Idram’s commitment to innovation and global connectivity,” said Arsene Kdenian, CEO of Idram. “By integrating our QR system with Bybit Pay, we make it possible for visitors to make convenient, secure crypto payments at thousands of stores across Armenia.”
Scan-to-Pay: Simple, quick, and Secure
The new Bybit Pay QR system enables frictionless, real-time crypto payments at retail stores using just a smartphone. The process is simple and designed to mirror traditional payment flows:
- The user scans the merchant’s QR code using the Bybit Pay app by selecting “QR Pay.”
- A confirmation window instantly displays the transaction amount and merchant details.
- The user taps “Confirm” to authorize and complete the transaction in seconds.
Bybit Pay’s infrastructure converts supported cryptocurrencies into fiat at the moment of purchase, ensuring price stability and compliance for merchants while offering crypto holders a convenient way to spend digital assets.
Investor Takeaway
Driving Financial Inclusion Across the Eurasian Region
With more than two decades of financial service experience, Idram is recognized as Armenia’s digital payment pioneer. Its collaboration with Bybit underscores a shared vision: building compliant, innovative payment infrastructure that integrates Web3 technologies into everyday commerce.
The partnership will not only enhance accessibility for Armenian users but also position the country as a regional leader in crypto-fintech convergence. Bybit Pay’s roadmap includes expanding to additional markets within the Eurasian Economic Union, reinforcing its strategy of global adoption through localized, regulatory-compliant partnerships.
