Bybit has taken a regulated foothold in Indonesia after acquiring PT Enkripsi Teknologi Handal (formerly NOBI) and relaunching it as Bybit Indonesia — a locally operated exchange overseen by the country’s Financial Services Authority (OJK).
What’s happening
- Bybit’s majority acquisition gives the global exchange a compliant, on-the-ground route into Indonesia instead of serving users only through its international platform.
- The rebranded Bybit Indonesia will roll out services in phases, initially offering more than 500 trading pairs while leveraging Bybit’s global liquidity, market surveillance and risk controls adapted to Indonesian regulatory requirements.
- Existing local management remains in place: Lawrence Samantha (formerly part of NOBI’s senior team) is CEO; Dionisius Evan continues as COO; Steven Gotama is CMO. Samantha said the deal “allows us to combine Bybit’s global capabilities with an experienced local team” familiar with Indonesia’s market and rules.
Why this matters
- Indonesia is a major and fast-growing crypto market. Official OJK data show 21.07 million crypto consumer accounts in February 2026, rising to 21.37 million in March; crypto transaction volume hit IDR22.24 trillion in March 2026 and reached IDR482.23 trillion for 2025.
- OJK has been tightening oversight and licensing for the sector. By March, the regulator had licensed 31 crypto-related entities, including two exchanges, two clearing houses, two custodians and 25 digital asset traders — creating an environment where international exchanges increasingly need local regulated entities to expand.
Competitive and strategic context
- Bybit isn’t alone in using local acquisitions to enter Indonesia. BTSE earlier relaunched a locally licensed rupiah-backed platform after rebranding NVX through a joint venture.
- The move aligns with Bybit’s broader push into regulated markets: the exchange obtained a full Virtual Asset Platform Operator license in the UAE in October 2025 and in January outlined plans to evolve beyond exchange services into a broader financial platform — including banking, custody and cross-border services.
- Bybit Indonesia says it will introduce additional products gradually in line with OJK rules, and will offer local education via Bybit Learn as it migrates existing NOBI users to the new platform.
Bottom line
Bybit’s acquisition and relaunch of NOBI as Bybit Indonesia is a calculated step into one of Southeast Asia’s largest crypto markets, combining local regulatory compliance and team expertise with Bybit’s global infrastructure — positioning the firm to capture growth as Indonesia’s regulated crypto ecosystem expands.
Read more AI-generated news on: undefined/news
