DUBAI, UAE, Nov. 5, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce Bybit Pay’s debut in Sri Lanka, adding a brand new destination in Bybit Pay’s global footprint. The initial rollout covers 50 physical point-of-sale and 50 digital merchant activations, creating a comprehensive presence across retail, service, and online commerce in Sri Lanka’s emerging digital payment network.
Bybit Pay has fortified its presence as a borderless crypto-native payment solution through deep localization and global connectivity. With mobile penetration exceeding 130% and ever-growing digital adoption, Sri Lanka has a vibrant payment ecosystem with significant opportunities for innovation and demands for nimble and affordable digital solutions. The introduction of Bybit Pay will empower crypto-ready payment methods that serve both domestic merchants and international visitors efficiently.
Digital Assets: A Trusted Plug-and-Play Solution for Businesses
Bybit Pay offers a refreshing take on democratizing access to the digital asset class. No matter the size of the business, and regardless of prior experience of processing crypto-enabled payments, retail stores, service providers and online merchants will be able to set up a physical point of sale when they join the program.
Bybit Pay has partnered with Ceylon Cash to launch this initiative in Sri Lanka through CeyPay, enabling local businesses to seamlessly adopt crypto payment solutions and participate in the global movement toward digital asset-enabled commerce.
Through the new initiative, Bybit Pay will establish 50 Android POS devices across traditional retail and service merchants, while simultaneously activating 50 digital merchants through a selection process. Application is currently open.
Key Benefits
Among the many reasons for merchants in Sri Lanka to support Bybit Pay, a few factors stand out that could address core challenges faced by local businesses and consumers:
- Lightning Speed: Merchant and customers on the Bybit Pay network can confirm real-time payments through instant proof-of-payment via API and ultra-fast settlement, eliminating the multi-day delays common with legacy methods.
- Affordable Access: A cost-effective way for Sri Lankan businesses to go global, with both local and international payments supported at competitive rates. The cost advantage improves profit margins for small businesses and benefits locals and travellers.
- Expanding Customer Base: Beyond geographical barriers, merchants also face an increasing generational divide. With Bybit Pay, businesses can enable payments from digital-first and crypto-first consumers who may be otherwise deterred by traditional payment gateways.
- Trust and Security: With fraud-protection and compliance built in, Bybit Pay’s robust network and security infrastructure enhance payment approval rates, lowering the risk and potential costs of payment disputes for merchants.
- Freedom to Choose: Payers and merchants have the flexibility to settle in crypto or fiat depending on their preferences.
“Sri Lanka’s combination of tech-forward consumers, substantial international tourism, and diverse merchant landscape creates ideal conditions for crypto payment adoption,” said Nazar Tymoshchuk, Regional Manager at Bybit. “This rollout is part of Bybit Pay’s commitment to helping make payments painless, efficient, and borderless for as many people as possible as they travel the world or build their own businesses.”
Bybit Pay will publicly announce all 100 selected merchants in a directory for users and continue to grow the merchant network across Sri Lanka. The market entry also supports Sri Lanka’s broader digital transformation initiatives while addressing key business and consumer challenges, positioning participating merchants to better serve both domestic growth and international competitiveness.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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