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Jofie Yordan · · 6 min readCan Bybit win in Indonesia’s crowded crypto exchange market?
Bybit, one of the world’s largest cryptocurrency exchanges by trading volume, is set to launch in Indonesia next month following its acquisition of local crypto asset management platform Nobi.
The exchange did not disclose the acquisition value but says it has become the majority shareholder of Nobi. The deal was announced in early December 2025.
The Financial Services Authority (OJK), Indonesia’s regulator for the financial industry, approved the acquisition, telling Tech in Asia that it met administration, governance, risk management, and consumer protection requirements.
“Beyond its investment commitment, OJK also assessed Bybit’s commitment to developing and strengthening the industry, as well as to transferring technology and competencies,” says Hasan Fawzi, OJK’s chief executive for the supervision of fintech innovation, digital financial assets, and crypto assets.
Photo credit: Bybit’s Facebook page
Following the acquisition, Lawrence Samantha, co-founder and CEO of Nobi, has been appointed CEO of Bybit Indonesia. In an interview with Tech in Asia, he says the company aims to launch its services in Q1 2026.
After the launch, Nobi will be fully rebranded as Bybit Indonesia, with all of its employees transitioning to Bybit. Nobi’s app will be shut down, and users and their assets will be migrated to the Bybit Indonesia platform.
Currently, the Bybit Indonesia team consists of around 20 employees. Samantha says the company aims to double its headcount this year, depending on its growth.
Bybit’s entry to the Indonesian market differs from the strategy of its competitor Binance, which chose to invest in Tokocrypto without bringing its own brand into the country.
“Bybit is not just buying a license here,” Samantha explains. “It [was] looking for a company that already had operational activities, an existing user base, and established relationships with regulators.”
See also: After riding the wave, Indonesia’s crypto space braces for impact
Nobi has held a license to operate as a crypto exchange in Indonesia since 2024. Before the acquisition, it had nearly 100,000 users. Samantha declined to disclose the number of transactions it recorded in 2025.
Initially, Bybit will offer spot trading and conversion services in Indonesia, letting users convert rupiah to crypto and vice versa. The company plans to list more than 400 crypto assets on its platform after launch.
Samantha adds that Bybit Indonesia is exploring derivatives or futures products such as gold. For now, it is taking a wait-and-see approach for those offerings.
Why Indonesia?
Crowded space
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Bybit’s move into Indonesia offers a rare look at how global crypto players adapt to local rules, rivals, and young users.
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