# SQRIL expands into Central Asia, adding Uzbekistan, Kazakhstan and

**Published:** 2026-06-28T18:39:35.044Z  
**Topic:** Crypto Payments  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/e1e9d3ad-42ea-4c1c-8722-d118b4b727eb

SQRIL’s scan‑to‑pay QR API now covers three Central Asian markets, promising sub‑1% fees versus 3% card fees and tapping an 85% merchant QR adoption rate.

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].

| At a glance | |
|---|---|
| New markets | Uzbekistan, Kazakhstan, Kyrgyzstan |
| Total coverage | 11 countries (Southeast Asia, Central Asia, Africa, Latin America) |
| Transaction fee | < 1 % for QR payments vs. ~3 % for legacy crypto cards |
| Merchant QR adoption | 85 % of merchants in emerging markets use QR codes vs. 15 % card acceptance |

## 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.

## Sources
1. Manilatimes — [Stablecoin-to-QR code payments company SQRIL continues to disrupt Crypto/Stablecoin Cards by now entering Central Asia | The Manila Times](https://www.manilatimes.net/2026/06/28/tmt-newswire/globenewswire/stablecoin-to-qr-code-payments-company-sqril-continues-to-disrupt-cryptostablecoin-cards-by-now-entering-central-asia/2374401)
2. Manilatimes — [SQRIL: First to Launch Stablecoin-to-Fiat QR Code Payments in Thailand and Cambodia | The Manila Times](https://www.manilatimes.net/2026/03/31/tmt-newswire/globenewswire/sqril-first-to-launch-stablecoin-to-fiat-qr-code-payments-inthailand-and-cambodia/2310977)
3. Markets Insider — [Stablecoin-to-QR code payments company SQRIL continues to disrupt Crypto/Stablecoin Cards by now entering Central Asia](https://markets.businessinsider.com/news/stocks/stablecoin-to-qr-code-payments-company-sqril-continues-to-disrupt-crypto-stablecoin-cards-by-now-entering-central-asia-1036281132)
4. Business Insider — [SQRIL: First to Launch Stablecoin-to-Fiat QR Code Payments in Thailand and Cambodia | Markets Insider](https://markets.businessinsider.com/news/stocks/sqril-first-to-launch-stablecoin-to-fiat-qr-code-payments-in-thailand-and-cambodia-1035978553)
5. Business Insider — [SQRIL Expands to Africa with Launch of Stablecoin-to-Fiat QR Payments and Mobile Money Integration in Tanzania, Kenya, and South Africa | Markets Insider](https://markets.businessinsider.com/news/stocks/sqril-expands-to-africa-with-launch-of-stablecoin-to-fiat-qr-payments-and-mobile-money-integration-in-tanzania-kenya-and-south-africa-1036035809)

---
Cite as: TrendWatcher, "SQRIL expands into Central Asia, adding Uzbekistan, Kazakhstan and", https://www.trendwatcher.in/article/e1e9d3ad-42ea-4c1c-8722-d118b4b727eb