Crypto exchange Bybit Kazakhstan has launched a fiat channel for depositing and withdrawing Kazakhstani tenge directly by bank card, the company said in a press release sent to Incrypted. The service is already available to fully verified residents of Kazakhstan and supports cards issued by any bank in the country, removing the need to open an account with a specific financial institution.

The channel is integrated into the platform and allows transfers between a user’s bank card and Bybit Kazakhstan account without redirecting the user to a third-party service. Deposited tenge are credited to the user’s corresponding wallet and can be used to purchase digital assets through One-Click Buy or for spot trading, including the KZT/USDT pair.

Fees, limits and security requirements

Bybit Kazakhstan charges a 1.5% fee for both deposits and withdrawals. Transaction limits depend on the user’s verification level and applicable requirements, with current limits displayed in the user’s personal account area on the platform.

For security, transfers can be made only from a card held by the user, while withdrawals must be sent to that same card. All verified residents of Kazakhstan can use the channel regardless of citizenship.

The new option supplements Bybit Kazakhstan’s existing services for transactions in the national currency. These include a direct fiat channel through Bank CenterCredit, or BCC, and a regulated peer-to-peer service involving five banks.

Bybit Kazakhstan head Ablaykhan Aubakir described the launch as an important step toward simplifying access to digital assets. He said the company plans to expand its list of fiat channels further to make the platform more accessible and convenient for local users.

The new tenge deposit and withdrawal method is available to fully verified users on Bybit.kz.

Source: Incrypted