Pyypl Secures New AFSA Licence to Expand Regulated Digital Asset Payments in Kazakhstan
Unlike retail crypto trading platforms, Pyypl says its focus in Kazakhstan is purely on payments infrastructure and not on direct promotion of cryptocurrencies to consumers.
Photo: Courtesy.
By Mahlon Lichuma
Fintech group Pyypl has strengthened its regulated footprint in Central Asia after its subsidiary, Pyypl Kazakhstan Ltd., activated a new permission from the Astana Financial Services Authority (AFSA) to provide money services involving digital assets.
The permission, which was issued on 23rd April 2026, expands Pyypl’s existing financial services operations in Kazakhstan and positions the country as the latest addition to the company’s growing network of regulated jurisdictions.
The move comes at a time when global financial institutions and fast-growing fintech firms are increasingly turning to digital asset infrastructure as a critical layer for improving the speed, cost and efficiency of cross-border payments.
Unlike retail crypto trading platforms, Pyypl says its focus in Kazakhstan is purely on payments infrastructure and not on direct promotion of cryptocurrencies to consumers.
According to the company, when deployed within a clear and appropriate regulatory framework, digital asset technology has the potential to significantly reduce settlement times, improve liquidity management and make the movement of value between markets more efficient and transparent.
“Digital assets are not the end product. They are part of the infrastructure that can make cross-border payments faster, more liquid and more efficient,” said Muhamad Masri, Chief Executive Officer of Pyypl.
Masri noted that the new AFSA permission provides Pyypl with another regulated environment to build and test its next-generation payments infrastructure, while linking it to capabilities already being developed across its wider global network.
The Kazakhstan expansion is seen as strategically important for Pyypl’s international growth plans. The company already operates under regulation in Abu Dhabi through the Financial Services Regulatory Authority (FSRA) and in Bahrain through the Central Bank of Bahrain (CBB).
With the addition of Kazakhstan, Pyypl says it now has an opportunity to develop new payment corridors, settlement models and liquidity solutions that connect the Middle East, Central Asia and other markets where it operates.
For businesses and individual consumers engaged in international transactions, the development of more efficient, regulated corridors could translate into faster settlement, improved access to global payment rails and lower friction in moving money across borders.
However, the company also acknowledged that opportunities in digital-asset-enabled finance come with inherent risks. These include exposure to market volatility, cybersecurity threats, operational risks, evolving regulatory changes and concerns around anti-money laundering compliance. Cross-border transactions, in particular, involve complex compliance requirements due to differing rules across jurisdictions.
Pyypl says operating under regulatory oversight from bodies like AFSA helps mitigate some of these concerns by placing its digital-asset activities within established governance, compliance and risk-management frameworks.
As an AFSA FinTech Lab Participant, Pyypl Kazakhstan plans to roll out the new capabilities progressively, taking into account regulatory requirements, partner readiness and local market demand.
The company says its long-term objective is to make the cross-border movement of value simpler, faster and more efficient, while maintaining strong standards of compliance, risk management and good governance.
The Kazakhstan permission therefore marks more than just another market entry for Pyypl. It signals the growing role of regulated digital-asset infrastructure in reshaping the future of international payments, while highlighting the need to balance innovation with consumer protection and financial stability.
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