Bybit, the world’s second-largest crypto exchange by trading volume, just launched Bybit Pay in Sri Lanka.
This marks another big step in their global expansion.
Right from the start, they’re rolling out 50 physical point-of-sale spots and 50 digital merchant activations.
So, whether you’re shopping in-store or online, Bybit Pay is jumping right into Sri Lanka’s growing digital payment scene.
Bybit now lets people in Sri Lanka use one-click fiat-to-crypto services, including paying by bank card.
Lately, Bybit’s “Rising Fund” joined forces with Ceylon Cash, a local blockchain education group, through the “Web3Ceylon” program.
They’re running seminars across Sri Lanka for builders, merchants, and students.
All this shows they’re laying the foundation for bigger payment solutions.
Still, there’s no big public announcement yet about launching a full payment gateway.
Why Sri Lanka
Sri Lanka is turning into a pretty exciting place for crypto payments.
More people have smartphones now, mobile internet is everywhere, and digital payments are catching on fast.
The country’s had its own national QR code payment system, LankaQR, since 2019, and a lot of merchants already use it.
With Bybit stepping in, things could jump from regular fintech straight into crypto payments—giving shops the option to take crypto and settle up in either regular money or stablecoins.
That means less need to lean on old-school banks for payments.
Nazar Tymoshchuk, who manages the region for Bybit, put it this way:
“Sri Lanka’s got a tech-savvy crowd, tons of international tourists, and all kinds of merchants—so it’s basically the perfect place for crypto payments to take off.”
“We’re rolling this out because Bybit Pay wants to make payments easy, efficient, and borderless for everyone, whether they’re traveling or building their own business.”
More News: Bybit Referral Code October 2025: PZM3LW ($30,000 Sign Up Bonus + Trading Discounts)
What Bybit Pay Offers
- Lightning Speed: Merchants and customers on the Bybit Pay network can confirm payments instantly.
With real-time proof-of-payment through the API and super-fast settlement, you don’t have to wait days like you do with old-school methods.
- Affordable Access: Sri Lankan businesses get a cost-effective way to reach the world.
Bybit Pay supports both local and international payments at competitive rates.
This means better profit margins for small businesses and more convenience for everyone—locals and travelers alike.
- Expanding Customer Base: Getting past borders is one thing, but there’s also a growing gap between generations.
Bybit Pay lets businesses accept payments from digital-first and crypto-first customers.
- Trust and Security: Bybit Pay has fraud protection and compliance baked in.
Its strong network and security systems boost payment approval rates and help merchants avoid disputes and losses.
- Freedom to Choose: Merchants and customers can settle in crypto or fiat. Whatever works best for them.
Bybit Pay plans to share a directory with all 100 chosen merchants, making it easy for users to find them.
They’re also working to expand their merchant network throughout Sri Lanka.
This launch lines up with Sri Lanka’s push for digital transformation and tackles some of the big challenges businesses and consumers face.
It puts these merchants in a stronger spot, ready to handle local demand and compete globally.
