Crypto exchange Bybit announced Thursday it has launched a locally operated platform in Indonesia after acquiring a majority stake in digital asset firm PT Enkripsi Teknologi Handal, formerly known as NOBI. 

The deal saw NOBI rebranded as Bybit Indonesia. The crypto exchange said it plans to introduce its services in phases, starting with 500 cryptocurrency trading pairs. 

The exchange will be led by Lawrence Samantha, who will serve as CEO and Dionisius Evan, who serves as chief operating officer, both formerly senior executives at NOBI. 

“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 in a statement. 

As of February 2026, Indonesia had 21.07 million registered crypto asset users, according to the Indonesia Financial Services Authority, with total crypto transaction value reaching $26.85 billion (482 trillion Indonesian rupiah) in 2025.

As of April, Indonesia had licensed 31 crypto-related entities, including two crypto exchanges, two clearing institutions, two custodians, and 25 digital asset traders, one of which is PT Enkripsi Teknologi Handal.