Bybit launches Kazakhstan’s first regulated P2P crypto trading platform

Crypto exchange Bybit Ltd. has launched a fully regulated peer-to-peer trading platform in Kazakhstan, the company announced.

Summary

• Bybit Kazakhstan has launched the country’s first licensed P2P crypto trading system.
• The regulated model requires full KYC, AML checks, and transaction supervision.
• The platform offers zero-commission P2P trades and a promotional campaign for new users.

The launch represents the country’s first P2P system operating within a licensed framework, according to the company. The platform, a cryptocurrency exchange licensed by the Astana Financial Services Authority (AFSA), is designed to provide a transparent and secure environment for buying and selling digital assets.

The system operates in partnership with financial institutions licensed under the AIFC framework. These institutions serve as Makers, while verified users act as Takers. All fiat transactions are processed through corporate bank accounts belonging to licensed institutions rather than personal bank accounts, according to the company.

During the initial rollout phase, users conduct fiat transfers through verified Halyk Bank cards. Each transaction is subject to identity and data checks, including verification of name, IIN and bank details, with supervision carried out by both Bybit Kazakhstan and the participating institution, the company stated.

The trading process follows a standard structure

When users purchase cryptocurrency, they select an offer and transfer Kazakhstani tenge from a Halyk Bank account to the Maker’s corporate account. Once payment is confirmed, the Maker releases the digital assets to the user’s Bybit Kazakhstan wallet. When users sell cryptocurrency, they initiate an order and receive Kazakhstani tenge from the Maker to their verified card. After the transfer is confirmed, the corresponding digital assets are released to the Maker.

The regulated P2P model includes several structural elements: fiat transfers conducted exclusively through corporate accounts of licensed financial institutions; compliance with AML and KYC standards, including verification of identity and bank details; supervision of each transaction by Bybit Kazakhstan and the Maker institution; full traceability and reporting; and support provided jointly by Bybit Kazakhstan and the licensed financial institution, according to the company.

Bybit Kazakhstan functions as a licensed platform regulated by AFSA. Financial institutions serving as Makers hold AFSA licenses and manage fiat settlement. Users act as Takers and must complete KYC verification. The platform applies a maximum transaction amount of 2.5 million tenge and a daily limit of 5 million tenge. Bybit Kazakhstan charges no commission for P2P transactions, the company said.

In connection with the platform’s launch, Bybit Kazakhstan has organized a promotional campaign running from Nov. 17 to Dec. 13. During this period, eligible new users may access various rewards tied to their first P2P deposits, including crypto incentives and entries into prize draws, according to the company. The campaign details and terms are available through Bybit Kazakhstan’s official channels.

The platform combines P2P trading flexibility with a security framework supported by licensed financial institutions. Bybit Kazakhstan plans to continue cooperation with local institutions as the ecosystem develops, the company stated.

In September, Kazakhstan launched a homegrown stablecoin backed by Solana (SOL) and Mastercard. After that, it announced plans to establish a national cryptocurrency reserve.