Sri Lanka Fintech Awards 2026 · Emerging Fintech of the Year
Crypto in.
Rupees out.
Bridging two worlds in payments
Ceylon Cash (PVT) LTD · ceypay.io · Nisal Chandrasekara, Founder & CEO
1 · Problem & solution
Crypto in the wallet. No way to spend it.
The problem
1.2M+ crypto users in Sri Lanka with no compliant way to pay.
Merchants want the sale — but only in LKR, with zero crypto risk.
No compliant bridge exists, so the sale simply doesn't happen.
Our solution
Crypto in.
Rupees out.
The customer scans and pays in crypto. CeyPay converts via licensed exchanges. The merchant is paid 100% in LKR to their existing bank account.
What sets us apart: Sri Lanka's only compliant crypto-to-LKR merchant rail — built on rails that already exist. Exchanges onboard the users; we onboard the merchants. No new app, no new wallet.
2 · Innovation & technology
Two firsts, built bank-safe
Direct debit from exchange wallets
Authorise once, pay like a bank direct debit — a crypto first. Live for 1M+ users across 3 exchanges.
Reversible crypto payments
Refunds and reversals on crypto rails — something crypto was never built to do.
Master aggregator + LankaQR
One integration to Binance, Bybit & KuCoin, settling over LankaQR merchant acquiring.
Bank-safe & compliant
No custody · rupees-only settlement · exchange-KYC + merchant KYB (Didit) · licensed rails · CeyFi VASP, SEC-aligned.
3 · Impact & results
Live and in the field
Jan 2026
Live and processing payments
1M+
users enabled for exchange direct debit
3
exchanges live, more coming
Paying merchants
W15 Hotels · BaduDeal.lk · Isso Prawn Crazy · Techroot — tourists & shoppers pay in crypto, merchants are paid in LKR.
Everywhere they sell
QR · POS · web & app checkout · payment links · recurring · APIs — all live, plus the CeyFi app at fi.ceypay.io.
Financial inclusion: bringing Sri Lanka's gray-market P2P crypto into a transparent, compliant rail banks and regulators can see.
4 · Scalability & sustainability
From Sri Lanka to the region
Revenue model
1% conversion fee (customer)
0.5% LankaQR merchant fee
+ merchant SaaS & POS
Key partnerships
Binance · Bybit · KuCoin (master aggregator)
WebXPay · DirectPay
Partner bank · LankaQR · Didit KYC
Next 12–24 months
Win LankaQR merchant-acquiring licence → banks & PSPs onboard merchants
CeyFi VASP licence (SEC)
Expand: 2027 South Asia → 2028 SE Asia → 2029 ME & Africa
Payments beyond boundaries.