Dubai-based cryptocurrency exchange Bybit has launched a locally operated platform in Indonesia following its acquisition of digital asset firm NOBI.

The deal gives the company a regulated presence in the country through an existing licensed entity, allowing it to expand without seeking a new license from scratch, according to Asia Business Outlook.

The acquired entity, PT Enkripsi Teknologi Handal, now operates under the Bybit Indonesia brand. The platform is supervised by the Financial Services Authority (OJK), which oversees the country’s crypto sector.

Bybit will gradually migrate NOBI’s users and assets to its own infrastructure. The rollout begins with spot trading and crypto conversion, with additional products to be introduced as local regulations permit.

Bybit has retained NOBI’s senior leadership to manage the transition and oversee local compliance.

Former NOBI executives Lawrence Samantha and Dionisius Evan have been appointed Chief Executive Officer and Chief Operating Officer of Bybit Indonesia, respectively.

The acquisition reflects a broader trend of international cryptocurrency exchanges expanding through acquisitions of locally licensed operators.

Featured image credit: Edited by Fintech News Indonesia, based on image by h9images via Magnific