ByCoinGape
Key Highlights
In a major expansion update, Bybit has strengthened its presence in Southeast Asia. It has announced launching Bybit Indonesia, a locally regulated cryptocurrency platform, following its majority acquisition of local crypto exchange, PT Enkripsi Teknologi Handal (formerly NOBI).
The move establishes Bybit’s first locally operated and regulated entity in the country. The platform will now operate under the supervision of Indonesia’s Financial Services Authority (OJK).
This aligns with the exchange’s strategy of expanding through licensed local businesses.
The development comes as Indonesia continues to emerge as one of Asia’s largest crypto markets. It has nearly 20 million registered crypto users and billions of dollars in annual trading activity.
NOBI is an Indonesian crypto exchange operated by PT Enkripsi Teknologi Handal. By acquiring a majority stake in the company, Bybit gains a licensed local entity instead of building one from scratch.
As per the Press release shared with Block of Fame, the newly launched Bybit Indonesia will initially offer more than 500 cryptocurrency trading pairs. This will be supported by institutional-grade liquidity, market surveillance systems and risk controls drawn from Bybit’s global infrastructure.
The exchange will introduce crypto services in phases, with future products remaining subject to Indonesian regulatory requirements.
Bybit’s Indonesia business will continue to be managed by executives from NOBI. Lawrence Samantha has been appointed Chief Executive Officer, while Dionisius Evan will serve as Chief Operating Officer. Steven Gotama joins the leadership team as Chief Marketing Officer.
The exchange’s entry comes as prediction market platforms such as Polymarket continues to face ban in Indonesia.
The acquisition also reflects a broader industry trend, with major global exchanges increasingly pursuing local licenses and acquisitions to strengthen their presence in regulated markets. Recently, Metaplanet acquired Siibo Securities to expand its APAC presence.
Indonesia has become one of the world’s fastest-growing cryptocurrency markets. This has made it an increasingly attractive destination for global exchanges seeking regulated expansion.
According to the latest data from Indonesia’s Financial Services Authority (OJK), the country had 22.4 million registered crypto consumer accounts as of May 2026. This up from 21.7 million in April and 19.56 million at the end of 2025, highlighting continued growth in digital asset adoption.
Crypto trading activity has also remained resilient. Crypto transaction value reached IDR 23.01 trillion (around $1.4 billion) in May 2026. That’s slightly higher than IDR 22.98 trillion recorded in April, despite broader market volatility.
The launch also comes amid Bybit’s continued expansion into other assets say stocks, oil trading and its DEX project, Byreal DEX.
Thus, launch in Indonesia marks a strategic expansion move by Bybit.
Frequently Asked Questions
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Sneha Agrawal
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