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Crypto exchange Bybit launches in Indonesia after NOBI acquisition
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- DeepHorus
Crypto exchange Bybit has officially launched a locally operated platform in Indonesia, following its acquisition of a majority stake in digital asset firm PT Enkripsi Teknologi Handal, formerly known as NOBI. The announcement, made Thursday, marks Bybit's strategic entry into one of Asia's largest and fastest-growing crypto markets. Indonesia currently hosts over 21 million registered crypto asset users, according to the Indonesia Financial Services Authority.
The deal saw NOBI rebranded as Bybit Indonesia, with the exchange planning to roll out its services in phases. Initially, Bybit Indonesia will offer 500 cryptocurrency trading pairs, leveraging Bybit's global infrastructure. The local team will be led by Lawrence Samantha as CEO and Dionisius Evan as chief operating officer, both former senior executives at NOBI. This leadership ensures continuity and local market expertise.
Indonesia's crypto market has shown remarkable growth, with total transaction value reaching $26.85 billion (482 trillion Indonesian rupiah) in 2025. As of April 2026, the country had licensed 31 crypto-related entities, including two exchanges, two clearing institutions, two custodians, and 25 digital asset traders. PT Enkripsi Teknologi Handal was among these licensed traders, providing a regulatory-compliant foundation for Bybit's operations.
This acquisition positions Bybit to compete directly with local exchanges like Tokocrypto and Indodax. By operating under a local license, Bybit can offer services that meet Indonesia's regulatory requirements, potentially attracting millions of users seeking a globally recognized platform. The move also diversifies Bybit's geographic footprint in Southeast Asia, where crypto adoption is surging.
Industry reactions emphasize the strategic importance of local partnerships. "This acquisition allows us to combine Bybit’s global capabilities with an experienced local team that understands Indonesia’s market and regulatory environment," Samantha stated. This perspective underscores the balance between global standards and local compliance, a key factor for success in emerging markets.
Looking ahead, Bybit Indonesia aims to become a leading crypto exchange in the country. The phased rollout will likely include additional features such as derivatives trading and staking services, pending regulatory approval. As Indonesia continues to refine its crypto regulations, Bybit's early entry and licensing could provide a competitive advantage.
With over 21 million users and growing transaction volumes, Indonesia represents a significant opportunity for Bybit. The exchange's local platform may also serve as a model for other global exchanges looking to enter regulated Asian markets. Bybit's successful integration of NOBI's team and resources positions it well for long-term growth in this dynamic region.
