SQRIL expands into Central Asia, adding Uzbekistan, Kazakhstan and

SQRIL announced on June 28, 2026 that its stablecoin‑to‑QR‑code payment platform is launching in Uzbekistan, Kazakhstan and Kyrgyzstan, extending its footprint to eleven countries across Asia, Africa and Latin America [1].

How SQRIL’s QR model undercuts card fees

SQRIL’s API connects stablecoins such as USDT directly to national QR payment rails, eliminating the need for costly POS card readers. In emerging economies, card‑based crypto debit/credit cards typically charge around 3 % per transaction for both consumers and merchants, whereas SQRIL’s QR solution keeps fees below 1 % for users and often zero for merchants [1][3]. This cost advantage is amplified by the hardware gap: only about 15 % of merchants in these regions have card terminals, while roughly 85 % already accept QR codes, making the QR network the native payment method [1][3].

Why exchanges and neobanks are integrating SQRIL

Leading crypto exchanges, stablecoin wallets and neobanks are embedding SQRIL’s “pay like a local” rails to gain instant access to the dominant QR merchant network. The platform settles global stablecoins into local fiat via regional payment systems, providing merchants with immediate fiat receipts and users with irreversible, blockchain‑verified transactions that remove chargeback fraud [1][3]. Founder Malcolm Weed emphasizes that the QR infrastructure delivers “3× lower fees and instant access to 5× more merchants” than traditional crypto card programs [3].

Regional rollout history

SQRIL’s expansion follows earlier launches in Southeast Asia—Thailand and Cambodia in March 2026, where the API enabled real‑time stablecoin‑to‑fiat QR payments using national standards like PromptPay and KHQR [2][4]. In April 2026 the firm entered Africa’s key markets (Tanzania, Kenya, South Africa), integrating mobile‑money and QR standards there [5]. The Central Asian entry completes a strategic push into high‑adoption QR environments across emerging markets.

What to watch

• Merchant adoption metrics – any shift in the 85 % QR versus 15 % card split in the new Central Asian markets could signal early traction.
• Regulatory stance – announcements from the central banks of Uzbekistan, Kazakhstan or Kyrgyzstan regarding stablecoin usage may affect SQRIL’s settlement pathways.
• Fee benchmarks – monitoring whether the sub‑1 % fee claim holds as transaction volumes grow in the region.

SQRIL’s move into Central Asia tests whether its low‑fee, hardware‑light QR model can displace legacy crypto cards in markets where merchant hardware constraints have long limited card usage. The outcome will shape the competitive dynamics of digital‑asset payments across emerging economies.