Robinhood enters Indonesia 🇮🇩, Bybit ramps up expansion 🚀, fintech funding heats up 💸
Dear subscriber,
Over the past week, Indonesia’s fintech and crypto landscape has seen strong momentum, marked by major global players like Robinhood, Bybit, and Airwallex deepening their presence in the country, alongside significant funding activity for local platforms such as Batumbu and Kredivo. At the same time, regional investment developments—from private credit expansion to climate-tech and clean energy commitments—reflect broader capital flows that are set to influence Southeast Asia’s financial and technological trajectory. Together, these events signal a maturing and highly competitive ecosystem where international interest and domestic innovation continue to converge.
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🚨 What’s New
Robinhood enters Indonesian market via acquisitions
Robinhood has officially entered Indonesia by acquiring local broker Buana Capital Sekuritas and crypto trader Coinvest, marking a significant step into one of Southeast Asia’s most dynamic investment markets. The expansion aims to tap Indonesia’s large and fast-growing retail investor base. Pieter Tanuri, owner of the acquired companies, remains on board as an advisor to guide Robinhood through local market dynamics. With plans for a full rollout expected over the next several years, this move intensifies competition among investment platforms. It also highlights Indonesia’s rising attractiveness to global fintech players amid increasing investor participation.
Bybit expands into Indonesia through NOBI partnership
Bybit is accelerating its presence in Indonesia by collaborating with local crypto platform NOBI. The strategy reflects Indonesia’s position as one of the world’s most active crypto markets, with strong adoption among young digital natives. Bybit’s localized approach allows it to navigate regulatory requirements while offering tailored services to Indonesian users. It also underscores the need for local players to differentiate as international exchanges enter aggressively.Airwallex acquires PT Skye Sab Indonesia to strengthen payments
Airwallex has acquired a majority stake in PT Skye Sab to deepen its presence in Indonesia’s rapidly expanding digital payments ecosystem. The acquisition boosts Airwallex’s ability to support cross-border payment needs for Indonesian businesses, especially MSMEs seeking to scale regionally. Combined with its substantial recent funding, Airwallex is strengthening infrastructure to deliver more seamless and cost-efficient financial services. Competition within the payments space is expected to intensify as global players enhance their local capabilities.Validus (Batumbu) secures US$30M Series D from Khazanah Nasional
The parent company of Batumbu, Validus, has raised US$30 million in Series D funding led by Khazanah Nasional, reinforcing its commitment to SME financing in Indonesia. Batumbu has played a growing role in supporting MSMEs through digital lending and supply chain financing solutions. The new capital will enhance technology, data capabilities, and operational scale to reach more underserved businesses.
Kredivo raises over US$100M led by Mizuho
Kredivo has secured more than US$100 million in a new funding round led by Mizuho, providing partial liquidity to early investors and strengthening its financial position. The raise highlights continued global interest in Indonesia’s fast-growing digital credit and BNPL sector. With consumer reliance on flexible financing rising, Kredivo is well positioned to capture expanding demand while navigating evolving regulations. The company is expected to build on its momentum in both lending and financial services diversification.
👏 What’s Exciting
Granite Asia raises over US$350M private credit fund anchored by Temasek
Granite Asia has closed more than US$350 million in the first tranche of its private credit fund, underscoring strong institutional appetite for alternative credit in Asia. The fund targets structured lending opportunities that appeal to investors seeking yield and diversified exposure. This trend reflects shifting capital flows from venture equity toward private credit globally. It also signals greater sophistication in regional capital markets as alternative financing instruments gain traction.The Radical Fund launches AI-native climate and deep tech venture studio
The Radical Fund has launched a venture studio dedicated to accelerating climate and deep-tech startups, particularly those integrating AI into sustainability-focused innovations. The initiative addresses the funding and operational gaps that early-stage, high-impact technologies often face. The model could influence Southeast Asia’s innovation landscape as climate-tech gains regional priority.BII commits US$95M to Southeast Asia’s energy transition
British International Investment has committed roughly US$95 million to support renewable energy and decarbonization efforts across Southeast Asia. The funding will accelerate clean-energy deployment through co-investment structures and strategic partnerships. Increased capital inflows into renewables may unlock new opportunities for local developers and green-tech innovators. The move also signals strengthening international commitment to Southeast Asia’s climate goals.
🚀 What’s Next
Global Crypto Adoption
Bybit has released the World Crypto Rankings (WCR) 2025, a comprehensive report analyzing crypto adoption across 79 countries using 28 metrics and 92 data points. The report ranks Singapore, the United States, Lithuania, Switzerland, and the United Arab Emirates as the top five countries with the most advanced crypto ecosystems, driven by regulatory clarity, institutional infrastructure, and high levels of user participation.
WCR 2025 also highlights the dominant role of stablecoins as the most widely adopted use case globally, the rapid growth of real-world asset tokenization—which has increased by more than 63% this year—and the rising adoption of crypto payrolls, now reaching nearly 10% of the global workforce. These interconnected trends are accelerating the integration of crypto into global financial systems, pushing countries to establish clear regulatory frameworks to attract talent and investment. Bybit emphasizes that the industry is at a pivotal transition point, where blockchain is shifting from experimentation to becoming core infrastructure in the digital economy.
Outlook and Strategic Directions
This Bybit report shows that Indonesia (33rd rank) is at a critical moment: it has a large user base, high stablecoin adoption, rapid retail growth, and increasing interest from global institutions. If regulation, infrastructure, and local innovation continue to advance, Indonesia has the potential to join the group of prominent countries in global crypto adoption—not only as a major retail market but also as a hub for innovation and institutional activity.