Uquid CEO Tran Hung Highlights 55% Turn to Bybit Pay During Local Currency Crashes, Boosting Crypto Payments in Southeast Asia

On June 9, Uquid CEO Tran Hung highlighted the growing utility of digital assets on X (formerly Twitter).  He stated that “Crypto ≠ Luxury. It’s Utility.” He also revealed that Uquid research shows that over 55% of Bybit Pay users shop during local currency crashes. The data also highlights that crypto payments often spike after news of inflation or currency devaluation. Uquid announced the integration of Bybit Pay into its Web3 shopping platform, aiming to accelerate global adoption. The company is now offering secure, low-fee digital transactions. The move aligns with Uquid’s mission to simplify crypto usage and empower the unbanked through stablecoin solutions.

Uquid Deepens Crypto Payments on Emerging Markets with Bybit Pay

In April 2025, Uquid added Bybit Pay as a new payment option to enhance user experience in Web3 shopping. The move addresses the growing demand for crypto payments in countries facing currency volatility. Uquid’s research indicates that users increasingly turn to crypto when their local currencies weaken. Bybit Pay supports eight major cryptocurrencies, including BTC, ETH, and USDT. It also enables fiat transactions, including real-time conversions with Brazil’s Pix. 

Source: Tran Hung X Post on June 9, 2025

Users can pay through simple QR codes and app prompts, bypassing traditional wallet complexities. These features remove friction and promote access to essential goods and services through crypto. This integration is especially important in Southeast Asia and Africa, where inflation and banking gaps challenge everyday transactions. In Nigeria, Argentina, and Turkey, crypto purchases surged as local currencies depreciated. As shown in the above graph from Week 1 to 7, crypto purchases rose 15% to 31% across the given countries. Bybit Pay brings financial access through stablecoins, now viewed as digital alternatives to traditional bank accounts in many underbanked areas.

Crypto Payments Lead Shift from Speculation to Utility

New trends show a significant shift from speculative investing to real-world usage of digital assets. Over 55% of Bybit Pay users transact during currency crashes, signaling growing reliance on crypto payments. This behavior reflects changing consumer habits in emerging economies. Stablecoins offer a protective shield against inflation and capital controls. They allow users to preserve value and execute everyday transactions without relying on volatile fiat currencies. 

Source: Tran Hung X Post on June 9, 2025

Uquid’s platform supports more than 175 million digital, physical, and NFT products, shipping to over 200 countries and territories. The platform’s “Shop-to-Earn” and “Payin3” features make crypto shopping more accessible. Payin3 allows users to split payments into interest-free instalments over 90 days. This reduces pressure to spend crypto in a single transaction, offering flexibility during uncertain times.

Stablecoins as the Future of Financial Access

Stablecoins are increasingly replacing traditional banking in regions with limited financial infrastructure. However, their rising influence also poses challenges. Without one-to-one parity with fiat across platforms, stablecoins cannot serve as true bank alternatives at scale. Uquid supports the call for stronger infrastructure. Proposed solutions include mint/redeem deals with banks, creation of crypto clearinghouses, and smarter on/off ramps. These improvements can ensure universal convertibility and stablecoin trust in larger transactions.

Moreover, stablecoin growth backed by U.S. Treasuries may disrupt bond markets and reduce issuer yields. To balance this, experts suggest expanding collateral types, on-chain transparency, and decentralized credit mechanisms. Uquid aligns with these principles by supporting multiple asset classes and payment models, helping mainstream adoption without undermining national policies.

Future of Crypto Utility in Global Commerce

The integration of Bybit Pay solidifies Uquid’s commitment to mainstream Web3 adoption. The platform now offers smoother crypto payments and broader access to goods and services. As digital currencies gain traction, platforms like Uquid shape the new normal for shopping and spending. Bybit Pay’s frictionless interface, zero transaction fees, and local integrations make it a strong tool for growth. 

Combined with Uquid’s vast product catalogue and flexible payment plans, the system meets the evolving needs of global crypto users. Stablecoins will remain central to this ecosystem, especially where traditional banking is weak. Addressing their structural gaps will be critical to future growth. Uquid’s move shows how commerce platforms can lead the charge in making crypto more than just an asset.