Bybit Kazakhstan Partners Bank CenterCredit for Faster Fiat Transactions

Bybit Kazakhstan, the locally authorized branch of the second-largest crypto exchange globally by trading volume, has partnered with Bank CenterCredit (BCC) to establish a direct fiat deposit and withdrawal channel. This new channel allows users to conduct transactions in the Kazakhstani tenge (KZT) through their bank accounts, streamlining the on-ramp and off-ramp processes within the crypto ecosystem of Kazakhstan. This development is aimed at enhancing the security and transparency of financial operations, ensuring regulatory compliance, and accelerating transaction speeds.

The collaboration is driven by a shared vision to foster the growth of digital finance in Kazakhstan. By leveraging BCC's robust fintech infrastructure and its strong presence in the local banking system, the partnership aims to integrate crypto services more seamlessly with traditional financial systems. This integration is expected to create a solid foundation for further advancements in the crypto landscape of Kazakhstan.

Michelle D., Head of Regulated Regions at Bybit, emphasized the significance of this partnership, stating, “Our aim is to make digital asset access as straightforward and secure as possible for users in Kazakhstan. Partnering with Bank CenterCredit allows us to bridge the gap between traditional finance and crypto, while operating within a fully regulated framework. This is a meaningful step in supporting Kazakhstan’s growing interest in blockchain technology.”

Bybit Kazakhstan is actively working towards obtaining AFSA licensing and developing products tailored to the needs of Kazakhstani customers. The fiat integration not only adds a local touch to the platform but also positions it as a gateway between Kazakhstan's tech-savvy digital financial market and the global crypto infrastructure. This move underscores Bybit Kazakhstan's commitment to long-term growth in Central Asia, following the launch of its native platform in October.

Users can now utilize the fiat channel through their accounts at Bybit.kz and Bank CenterCredit, with more integrations with local payment methods planned for the future. For those interested in exploring the regulated offerings by Bybit Kazakhstan, licensed under the financial regulator Astana Financial Services Authority, the platform can be accessed at Bybit.kz.