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- Bybit Pay teams with Idram to unlock QR crypto payments across 25,000 Armenian stores.
- Partnership bridges crypto and retail, letting users pay instantly via QR while visiting Armenia.
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced on October 21, 2025, that its payment arm Bybit Pay has formed a partnership with Idram, a leading digital financial services company in Armenia. The partnership aims to strengthen the link between digital assets and everyday retail payments.
A launch ceremony is scheduled for October 22, 2025 in Yerevan to mark the debut of this collaboration. Representatives from both companies will meet with local fintech partners and regional payment firms to discuss how this merger will reshape digital payment access within the Eurasian Economic Union.
This move marks a new milestone in Bybit Pay’s international expansion. With Idram holding over 90% of Armenia’s QR payment market, the deal enables crypto payments at more than 25,000 physical stores across the country.
Bybit Pay Enables QR Payments in Armenia
Bybit Pay users will now be able to pay using QR codes during their stay in Armenia. The transaction process is simple. Customers open up the Bybit Pay app to scan the merchant’s QR code, review transaction details, and confirm it within seconds.
This partnership eliminates currency conversion barriers for visiting customers and broadens payment options. For Armenian traders, it provides direct access to the Eurasian Economic Union market of roughly 185 million people, creating a single gateway for regional trade and digital commerce.
Sophie Chen, Head of Marketing for the Payment Business Unit at Bybit, said,
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.
Partnership Strengthens Local and Global Connectivity
Idram’s CEO, Arsene Kdenian, said that this partnership aligns with the company’s long-term commitment to advancing secure, legal, and innovative payment methods.
This partnership demonstrates Idram’s commitment to innovation and strengthening global connections,” he said. “By integrating our QR system with Bybit Pay, we enable international visitors to make convenient and secure payments while visiting Armenia.
Kdenian added that this step allows Bybit users to make payments easily and conveniently with digital assets at more than 25,000 stores. Idram has been serving the local community for the past 20 years and has become a trusted payment method for both customers and merchants.
Bybit Pay’s presence in Armenia follows its goal to give “real-life benefits to digital asset holders” through strong and local partnerships. The platform serves verified users around the world and is committed to expanding financial accessibility while ensuring compliance with regional regulations.
Bybit currently supports more than 70 million registered users around the world. Since it started in 2018, the company has focused on providing people open, clear, and secure access to decentralized finance. Through partnerships like the one with Idram, Bybit continues to connect the Web3 system with real-world trading.
