Pyypl Kazakhstan Ltd. holds a FinTech Lab licence from the Astana Financial Services Authority (AFSA). On 23 April 2026, the AFSA extended that licence to include money services in relation to digital assets. This gives Pyypl a regulated base for building cross-border payments that use digital asset infrastructure.
Why Kazakhstan and the AIFC
Cross-border payments remain fragmented across many of the markets Pyypl serves. Individuals move money between countries. Businesses pay suppliers, contractors and teams across jurisdictions. Payment companies need reliable ways to manage settlement and liquidity between markets.
Behind what looks like a simple transfer, there can be several intermediaries, currencies, settlement relationships and operational processes. That adds cost, extends settlement times and ties up capital in accounts held in advance.
The Astana International Financial Centre (AIFC) has a framework for this work. It sets out how a company can develop financial services across both traditional and digital financial infrastructure while remaining subject to regulatory oversight and governance requirements.
For Pyypl, this means building technology locally while maintaining the same standards of compliance, risk management and governance across its regulated operations, including those subject to the regulatory regime and oversight by the Astana Financial Services Authority (AFSA), the Financial Services Regulatory Authority (FSRA) in Abu Dhabi, and the Central Bank of Bahrain (CBB).
Digital assets and cross-border payments
Pyypl’s position on digital assets is practical. They are one of several technologies that can improve how value moves behind the scenes: less settlement friction, better movement of liquidity between markets, more efficient connections between payment systems.
For customers, the result can be simpler: a transfer that works, a corridor that opens and a settlement process with fewer steps.
“For us, 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, Group CEO of Pyypl.
From permission to capability
Kazakhstan is another regulated entity in a network Pyypl is connecting: payment infrastructure, traditional rails and digital asset liquidity, across markets that each require their own licences and partners.
Capabilities will be introduced progressively, in line with applicable regulatory requirements, partner readiness and customer demand.
“Activating this permission in Kazakhstan gives us another regulated environment in which to build that infrastructure responsibly and connect it with the payment capabilities we are developing across our wider network. The objective is ultimately very simple: make moving value between markets easier, while ensuring that the regulatory, compliance and governance foundations are built properly from the beginning” Masri added.
Disclaimer: Pyypl Kazakhstan Ltd. currently operates as a FinTech Lab Participant under the AFSA FinTech Lab framework. Its activities are subject to specific licence conditions, limitations and regulatory requirements applicable to its operations. These conditions and limitations may be amended by AFSA as the company progresses through the FinTech Lab framework.
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