Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce another advancement in the Web3-powered payment race with the introduction of Bybit Pay in Vietnam and the Philippines. Starting this June, local users and global Bybit Pay users visiting the popular Southeast Asian destinations can pay, send, and receive with 16 major cryptocurrencies across retail endpoints and between users.
Localizing Web3 Payment: Scan to Pay
Integrating AEON, Bybit Pay enables QR code payments through official channels in Vietnam and the Philippines, where AEON Pay is accepted by over 90% of local merchants in urban areas. In the Philippines, Bybit Pay supports the QR Ph national standard and the official framework, VietQR in Vietnam, both state-approved and compliant with industry safety standards.
The latest addition marks the beginning of Bybit Pay’s foray into Asia on the back of Bybit’s powerful infrastructure and partnership networks. Streamlining digital payments across currency types, Bybit Pay processes instant payments and settlements through multiple channels, offering users a seamless front-end experience.
How it Works
- Users scan merchant QR codes with the Bybit Pay app
- Bybit Pay generates a unique payment QR code for user approval
- Merchant to scan the approved payment code—transaction completed
Southeast Asia is home to over 600 million people—a quarter of whom are tech-savvy Gen Z, with thriving digital payments markets. In 2024, 40% of merchants in the Philippines saw contactless payments as a preferred method, while 36% of merchants in Vietnam noted growing adoption of mobile wallets among customers.
To celebrate the launch, from now until June 30, 2025, eligible users who spend 5 USD with Bybit Pay with VietQR and QR PH will enjoy cashback in BTC airdrop. Restrictions apply: https://www.bybit.com/promo/campaign/BybitPay_BTCcashback
Bybit Pay currently serves global users who have successfully completed Identity Verification on Bybit. Users from Service Restricted Countries or local Bybit entities are not currently supported. For the latest updates and detailed terms and conditions, users may visit the Bybit Pay official page.
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