# SQRIL Expands Stablecoin QR Payments to Central Asia

**Published:** 2026-07-04T19:57:16.152Z  
**Topic:** Crypto Payments  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/3a1f3882-f603-40bd-9bbe-278f47f6520e

SQRIL is expanding its stablecoin-to-QR code payment API into Uzbekistan, Kazakhstan, and Kyrgyzstan, targeting an 85% merchant adoption rate in the region.

SQRIL, a scan-to-pay API provider for crypto wallets and neobanks, has expanded its operations into Central Asia, marking its entry into Uzbekistan, Kazakhstan, and Kyrgyzstan [1]. The move aims to displace traditional crypto debit and credit cards by leveraging local QR code infrastructure to reduce transaction costs and increase merchant availability in emerging markets [2].

| At a glance | |
|---|---|
| Expansion Markets | Uzbekistan, Kazakhstan, Kyrgyzstan |
| QR Code Fee | Sub-1% |
| Legacy Card Fee | 3% |
| Merchant Adoption | 85% (QR) vs 15% (Card) |

## The shift from card networks to QR rails
The expansion targets a significant infrastructure gap in developing nations, where traditional point-of-sale (POS) hardware has limited card payment adoption to 15% of merchants [1]. By contrast, QR code systems require no specialized hardware, allowing for an 85% merchant adoption rate in the regions where SQRIL operates [2]. SQRIL’s infrastructure allows crypto exchanges and stablecoin apps to settle transactions directly into local currencies via regional payment networks [1].

SQRIL claims its model offers a cost advantage over legacy card networks, which typically charge 3% in processing fees to both the consumer and the merchant [2]. By intersecting stablecoin liquidity with local QR rails, SQRIL reports that its transaction costs are kept below 1%, with merchant fees often reaching zero [1]. The company, which is backed by the Plan B VC Fund, supports stablecoins such as Tether’s USDT to facilitate these cross-border settlements [3].

## Market positioning and reach
SQRIL’s platform is now active in 14 countries across Asia, Africa, and Latin America, with additional expansion planned for Indonesia, Malaysia, Nigeria, Ghana, Uganda, and Paraguay [1]. The company positions its "pay like a local" API as a solution to the chargeback fraud risks associated with legacy card networks, noting that blockchain-verified ledger security provides an alternative to traditional dispute mechanisms [2]. 

Founder and CEO Malcolm Weed stated that the company is prioritizing the integration of stablecoin liquidity with national QR code standards to provide financial apps with broader merchant access than current crypto card programs [1]. While the company has established a footprint in Southeast Asia, Africa, and Latin America, the Central Asian expansion represents a strategic push to capture regions where national QR code schemes are becoming the primary method for real-time, cross-border commerce [3].

## What to watch
*   **Expansion Timeline:** Monitor the rollout in the six upcoming markets, including Nigeria and Indonesia, which are slated for future integration [1].
*   **API Adoption:** Watch for announcements regarding new partnerships with major crypto exchanges or neobanks that integrate the SQRIL API to expand their digital wallet utility [2].
*   **Regulatory Interoperability:** Observe how SQRIL navigates the varying national QR code standards in Central Asia as it attempts to scale its cross-border settlement rails [3].

The success of this model hinges on the continued dominance of QR codes as the native payment method in emerging economies. Whether SQRIL can maintain its sub-1% fee structure while scaling across diverse regulatory environments remains the primary question for its long-term infrastructure goals.

## Sources
1. USA TODAY — [Stablecoin-to-QR code payments company SQRIL continues to disrupt Crypto/Stablecoin Cards by now entering Central Asia](https://www.usatoday.com/press-release/story/36134/stablecoin-to-qr-code-payments-company-sqril-continues-to-disrupt-crypto-stablecoin-cards-by-now-entering-central-asia/)
2. Pr — [Stablecoin-to-QR code payments company SQRIL continues to...](https://pr.washingtoncitypaper.com/article/Stablecoin-to-QR-code-payments-company-SQRIL-continues-to-disrupt-CryptoStablecoin-Cards-by-now-entering-Central-Asia/6a412ae5efcd53a5cebe2789)
3. Pymnts — [SQRIL supports stablecoins such as Tether’s USDT... | PYMNTS.com](https://www.pymnts.com/newswire-announcements/sqril-supports-stablecoins-such-as-tethers-usdt-for-its-scan-to-pay-qr-switch-in-emerging-markets/)
4. The Daily Independent — [Stablecoin-to-QR code payments company SQRIL continues to disrupt Crypto/Stablecoin Cards by ...](https://www.dailyindependent.com/region/stablecoin-to-qr-code-payments-company-sqril-continues-to-disrupt-crypto-stablecoin-cards-by/article_6ebd5ad4-a5e9-52a2-a8eb-4c2982f1a709.html)

---
Cite as: TrendWatcher, "SQRIL Expands Stablecoin QR Payments to Central Asia", https://www.trendwatcher.in/article/3a1f3882-f603-40bd-9bbe-278f47f6520e