In Kazakhstan, it will be possible to pay with cryptocurrency via QR code

Tengrinews.kz — In Kazakhstan, it will soon be possible to pay with cryptocurrency simply by scanning a QR code. This was announced by National Bank Chairman Timur Suleimenov and Deputy Prime Minister—Minister of Artificial Intelligence and Digital Development Zhaslan Madiev.
According to the head of the National Bank, this project is being implemented within the framework of the National Bank's regulatory sandbox.
Note:The National Bank's regulatory sandbox is a special regime where companies can test new financial products and technologies under simplified rules and regulatory supervision. For example, if a fintech company develops a new payment method or digital service, it can first test it in the "sandbox" without immediately meeting all the requirements that apply to traditional banks. This helps accelerate innovation while simultaneously verifying its safety for customers. Simply put, a sandbox is a kind of "testing ground" for new financial services.

"This has now been implemented. As I understand it, we are talking about approximately 5,000 points of sale. They are mostly located in Astana and Almaty, but the network will expand in the future," Timur Suleimenov reported.

According to the head of the National Bank, several other banks are also working on similar solutions.

"In the future, they may become part of a unified QR system," he noted.

Suleimenov also announced the upcoming introduction of a unified QR code:

"I recall that we must implement a unified QR by July 18. It will be available not only for banks but also for payment organizations and crypto wallets. We will provide more details on this a bit later."

Deputy Prime Minister and Minister of Artificial Intelligence and Digital Development Zhaslan Madiev, in turn, explained that this refers to payment technology that allows linking crypto companies, crypto exchanges, and second-tier banks:

"To put it simply, this is a type of payment technology used by crypto companies and exchanges. Such solutions can integrate with second-tier banks to create crypto-fiat gateways or crypto-fiat channels."

According to him, cryptocurrency, fiat money, and stablecoins can be converted in real-time through these channels.

"Through these channels, cryptocurrency can be freely converted into fiat, fiat into cryptocurrency, and stablecoins in real-time," the minister noted.

Note: Fiat money (fiat) is traditional currency issued by the state that we use every day. Its value is not backed by gold or other commodities but is based on trust in the state and the central bank. For example, the tenge, dollar, euro, and ruble are fiat currencies.
Stablecoins are cryptocurrencies whose exchange rate is pegged to a specific asset, most often the US dollar. They were created to offer the benefits of cryptocurrencies without the high volatility characteristic of Bitcoin and other crypto assets.
Madiev added that such integrations occur at the software level and are already being built into the network of banking terminals.

"I believe that in the future, there will be more and more such products. Both cards and other payment instruments will emerge. This is not limited to any single territory because the regulatory regime allows for the implementation of such high-tech payment solutions," he said.

Cryptocurrency payments and the unified QR code
Earlier, the National Bank of Kazakhstan announced the launch of a crypto card project. These cards will allow users to make payments using cryptocurrency stored in wallets on licensed exchanges within the Astana International Financial Centre (AIFC). Upon payment, crypto assets are automatically sold on the AIFC crypto market, and the resulting funds are credited to the bank card.
The unified QR code project is being developed separately. On July 3, the National Bank announced that the phased scaling of the unified QR code will begin on July 7, with a full launch scheduled for July 19, 2026. The system is designed to allow customers to pay for purchases through their own bank's app, regardless of which bank's QR code the merchant displays.