Bybit Kazakhstan Partners with Bank CenterCredit to Launch Direct Fiat Channel for Enhanced Crypto Access

In a groundbreaking move for the cryptocurrency landscape in Kazakhstan, Bybit Kazakhstan, the authorized entity of Bybit—the world's second-largest cryptocurrency exchange by trading volume—has officially launched a direct fiat channel in collaboration with Bank CenterCredit. This partnership aims to make digital asset transactions more accessible to local users by enabling seamless fiat deposits and withdrawals in Kazakhstani tenge (KZT).

The new fiat channel allows users of Bybit Kazakhstan to directly transfer funds to and from their bank accounts, streamlining the process of entering and exiting the crypto market. This integration is a significant step towards bridging the gap between traditional banking and the rapidly evolving world of digital currencies in the region.

Under strict compliance with local regulatory oversight, this collaboration ensures that transactions are both secure and transparent. Bybit Kazakhstan’s commitment to regulatory adherence is evident in this partnership, as it aligns with the country’s growing focus on fostering a safe environment for cryptocurrency adoption.

Michelle D., Head of Regulated Regions at Bybit, highlighted the importance of this initiative, 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 provide a trusted and efficient gateway for local users to engage with cryptocurrencies.

This development is expected to boost crypto adoption in Kazakhstan, a country increasingly positioning itself as a hub for digital innovation. With the National Bank of Kazakhstan also exploring digital asset integration projects, such as crypto cards, the timing of this fiat channel launch could not be more strategic.

As Bybit continues to expand its footprint in regulated markets, this partnership with Bank CenterCredit sets a precedent for how crypto exchanges can collaborate with traditional financial institutions to enhance user experience and drive financial inclusion through digital assets.