Bybit Enters Indonesian Market With Acquisition of Licensed Crypto Firm NOBI
The global exchange rebrands the local firm to Bybit Indonesia, tapping into a market of over 21 million registered digital asset users.
Global cryptocurrency exchange Bybit has officially established a localized footprint in Indonesia, marking a major milestone in its Southeast Asian expansion strategy. The expansion was realized through the acquisition of a majority stake in PT Enkripsi Teknologi Handal, a licensed local digital asset firm formerly known as NOBI.
Following the acquisition, NOBI has been rebranded as Bybit Indonesia. The newly formed local entity plans to roll out its suite of digital asset services in a phased manner, initially offering users access to 500 cryptocurrency trading pairs. This phased approach is designed to ensure operational stability while aligning with the country’s stringent regulatory standards.
Bybit Indonesia will be steered by a leadership team deeply rooted in the country’s domestic crypto ecosystem. Lawrence Samantha, the former senior executive at NOBI, will assume the role of chief executive officer. Joining him is Dionisius Evan, another former NOBI senior executive, who will serve as the chief operating officer.
“This acquisition allows us to combine Bybit’s global capabilities with an experienced local team that understands Indonesia’s market and regulatory environment,” Lawrence Samantha said in a statement.
The strategic move comes at a time when Indonesia is cementing its status as one of the most dynamic digital asset markets in the Asia-Pacific region. According to data from the Indonesia Financial Services Authority, the country recorded 21.07 million registered crypto asset users as of February 2026. This massive user base contributed to a total crypto transaction value of $26.85 billion (equivalent to 482 trillion Indonesian rupiah) in 2025.
Indonesia’s rapid adoption of digital assets is driven by a combination of a young, tech-savvy population, high mobile internet penetration, and a growing demand for alternative investment avenues. To manage this explosive growth, Indonesian authorities have established a highly structured regulatory framework.
As of April, the country had licensed 31 crypto-related entities. This regulated ecosystem includes two crypto exchanges, two clearing institutions, two custodians, and 25 digital asset traders. PT Enkripsi Teknologi Handal holds one of these highly sought-after licenses as a digital asset trader, making it an incredibly valuable acquisition target for a global player like Bybit.
By acquiring a pre-licensed local entity, Bybit is utilizing a proven expansion playbook. Navigating the regulatory landscape in emerging markets can be incredibly complex, particularly as Indonesia transitions its crypto oversight to the Indonesia Financial Services Authority. Acquiring an established firm with existing regulatory approvals allows global exchanges to bypass years of bureaucratic hurdles while securing immediate trust with local consumers and regulators alike.
