Woofun AI reports that Bybit has secured a majority stake in PT Enkripsi Teknologi Handal, formerly known as NOBI, to establish a locally operated platform in Indonesia. The acquired entity has been rebranded as Bybit Indonesia, with leadership transitioning to Lawrence Samantha as CEO and Dionisius Evan as Chief Operating Officer, both former senior executives at NOBI.

The operational rollout commenced on Thursday, initially offering 500 cryptocurrency trading pairs as part of a phased service introduction. This entry targets a substantial user base; according to the Indonesia Financial Services Authority, there were 21.07 million registered crypto asset users as of February 2026. The market’s financial scale is significant, with total crypto transaction value reaching $26.85 billion, equivalent to 482 trillion Indonesian rupiah, in 2025.

Woofun AI data shows that structurally, the regulatory environment remains tightly controlled. As of April, only 31 crypto-related entities held licenses in Indonesia. This cohort includes two crypto exchanges, two clearing institutions, two custodians, and 25 digital asset traders. PT Enkripsi Teknologi Handal is among these licensed entities, providing Bybit with immediate regulatory compliance upon acquisition.

This strategic move integrates Bybit’s global infrastructure with local expertise to navigate Indonesia’s specific market dynamics. By retaining NOBI’s existing license and leadership team, Bybit aims to accelerate its regional expansion while adhering to strict local oversight.