Bybit Launches Indonesia Crypto Platform After Majority NOBI Acquisition

Cryptocurrency exchange Bybit has entered the Indonesian market by acquiring a majority stake in PT Enkripsi Teknologi Handal, the company previously operating under the brand NOBI. The transaction gives Bybit a regulated local entity subject to oversight by Indonesia’s Financial Services Authority (OJK), rather than serving the country solely through its global platform.

NOBI had already appeared on OJK’s list of authorised digital financial asset and crypto trading providers before the acquisition. Bybit Indonesia will now operate as a separate entity under PT Enkripsi Teknologi Handal, drawing on the parent company’s technology, liquidity and risk controls while complying with local rules.

Management and Product Rollout

Bybit has retained NOBI’s senior management to lead the Indonesian business. Lawrence Samantha has been appointed CEO of Bybit Indonesia, Dionisius Evan serves as COO, and Steven Gotama joins as CMO. Samantha said the acquisition combines Bybit’s global capabilities with a local team that understands the market and regulatory environment, and that the focus is on a careful transition for NOBI users.

The Indonesian platform plans to roll out more than 500 trading pairs in phases, initially focusing on spot markets and localised educational resources. Any expansion into derivatives or other products will depend on OJK rules and required consumer safeguards. The regulated entity’s offering may differ from Bybit’s global product catalogue.

Regulatory Strategy and Market Context

Bybit co-founder and CEO Ben Zhou described Indonesia as a significant long-term opportunity and said sustainable growth depends on regulatory alignment and responsible operations. The acquisition model shortens the route to market compared to applying for a new licence from scratch, but leaves the local entity responsible for meeting OJK’s licensing and supervisory requirements.

The move reflects a broader trend of major offshore crypto exchanges using acquisitions and locally licensed subsidiaries to enter national markets under formal regulatory frameworks. Bybit says it serves more than 80 million users globally and ranks as the second-largest crypto exchange by trading volume. Its Indonesian business will compete with established local platforms and other international groups pursuing regulated access.

Education will be part of the customer acquisition strategy, with localised learning resources through Bybit Learn covering digital assets and responsible use. The company stressed that products will be introduced progressively and that success will be measured by how responsibly it serves Indonesian customers.