 
 
The second-largest cryptocurrency exchange in the world, based on trading volume, Bybit, is happy to announce a new strategic alliance between Bybit Pay and Idram, a well-known services provider and leader in digital payments in Armenia. The integration demonstrates Bybit Pay’s steadfast dedication to constructing the global payment rails for cryptocurrencies through small, regional projects that help holders of digital assets in the real world.
On October 22, 2025, a launch event will be held in Yerevan, Armenia, to introduce Bybit Pay’s partnership with Idram in Armenia officially. Key Bybit and Idram stakeholders will speak to fintech partners and the local payment community, revealing their mutual dedication to promoting innovation and digital payment infrastructure in the area.
Bybit Pay and Idram have partnered to introduce comprehensive payment services in Armenia, allowing customers to pay with QR codes at more than 25,000 in-store locations. Idram, which has been providing innovative and compliant digital payment solutions to the community for more than 20 years, holds a market share of over 90% in Armenia for QR payments.
Within the united market of the Eurasian Economic Union countries, which are home to more than 185 million consumers, Idram gives merchants a single point of access. When visiting Armenia, Bybit Pay customers from other countries will also be able to use their app to make payments with ease.
“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,” said Sophie Chen, Head of Marketing, Payment Business Unit at Bybit. “We are committed to establishing deep, meaningful partnerships that create lasting value for local communities.”
 
“This partnership demonstrates Idram’s commitment to innovation and strengthening global connections,” said Arsene Kdenian, CEO of Idram. “By integrating our QR system with Bybit Pay, we enable international visitors to make convenient and secure payments while visiting Armenia. At the same time, recognizing that the use of cryptocurrency has just started to develop worldwide, this collaboration allows Bybit users to make payments already in Armenia with their digital assets app at more than 25,000 points of sale in an easy and accessible way,” added Kdenian.
Scan to Pay with QR Code – How it Works
- The user scans the merchant QR code with the Bybit Pay app (by choosing “Bybit Pay” -> “QR Pay”).
- In a few seconds, the payment confirmation window opens, displaying the transaction details.
- The user taps “Confirm” to approve and complete the payment.
Bybit Pay keeps expanding its users’ travel options while furthering the larger goal of universal financial accessibility. Currently, the crypto-native payment solution is available to qualified individuals worldwide who have successfully finished Bybit’s Identity Verification process. At this time, local Bybit entities and users from Service Restricted Countries are not supported. Users can visit the official Bybit Pay page for the most recent information as well as comprehensive terms and conditions.