Bybit enters Indonesian crypto market via NOBI stake
Bybit is tapping into Indonesia's $26.85 billion crypto market by acquiring a majority stake in local firm NOBI to secure a licensed operating foothold in the country.
Crypto exchange Bybit has launched a locally operated platform in Indonesia after acquiring a majority stake in PT Enkripsi Teknologi Handal, a digital asset firm formerly known as NOBI. The acquired business has been rebranded as Bybit Indonesia. The platform will initially offer 500 cryptocurrency trading pairs as part of a phased service rollout.
The newly formed entity will be led by Lawrence Samantha as chief executive and Dionisius Evan as chief operating officer. Both executives previously held senior positions at NOBI, retaining the institutional knowledge required to navigate the local market. “This acquisition allows us to combine Bybit’s global capabilities with an experienced local team that understands Indonesia’s market and regulatory environment,” Samantha said.
The strategic acquisition provides Bybit with immediate access to one of Asia’s most populous digital asset markets. Indonesia registered 21.07 million crypto asset users as of February 2026, according to the Indonesia Financial Services Authority. Trading activity in the country generated $26.85 billion, or 482 trillion Indonesian rupiah, in total transaction value throughout 2025.
Regulatory bottleneck
Capturing a share of this $26.85 billion market requires operating within a tightly restricted licensing framework. As of April, Indonesia had licensed exactly 31 crypto-related entities. The country’s regulatory structure divides these permits into specific categories: two crypto exchanges, two clearing institutions, two custodians, and 25 digital asset traders.
PT Enkripsi Teknologi Handal holds one of those 25 digital asset trader licenses. Bybit’s decision to acquire this specific firm highlights a common strategy among global crypto companies facing strict compliance rules. Rather than attempting to secure one of the two highly coveted exchange licenses directly, Bybit bought its way into the ecosystem through a licensed trader.
Market implications
For investors and market professionals, the entry of a major global exchange into Indonesia signals increasing maturity in the region's digital asset sector. The phased introduction of 500 trading pairs is likely to increase liquidity and competitive pressure on existing domestic operators.
However, operating under a trader license rather than a full exchange license may limit the scope of services Bybit Indonesia can ultimately offer. The reliance on the former NOBI leadership team underscores that local regulatory expertise remains just as critical as global trading volume for international crypto firms expanding into Southeast Asia.
