Dubai-based crypto exchange Bybit launched Bybit Indonesia on July 15 after acquiring a majority stake in PT Enkripsi Teknologi Handal, the legal entity behind Jakarta-based crypto trading platform NOBI.

The deal gives Bybit a local entry into Indonesia, where crypto-asset licensing shifted from commodities regulator Bappebti to the Financial Services Authority, or OJK. The handover was formalized on Jan. 10, 2025.

NOBI was founded in 2018. Former NOBI executives Lawrence Samantha and Dionisius Evan were appointed CEO and COO of Bybit Indonesia. Steven Gotama was also named CMO.

Bybit said it will introduce products and services in stages, starting with more than 500 crypto-asset pairs.

Indonesia has 29 exchanges licensed to operate locally.

🔗 Source: Bybit