Icex

Upbit and Indonesia Crypto Exchange (ICEx) have entered into a strategic partnership that could reshape how Indonesia builds its regulated digital asset market. The collaboration puts global technology and regulatory discipline at the center of ICEx’s development path.Rather than focusing only on expansion, the agreement is designed to strengthen the foundations of a market that is expected to grow with tighter oversight and better operational standards. For Indonesia’s crypto ecosystem, that makes the partnership more than a simple business deal.Technology support with a compliance focusUnder the memorandum of understanding, Upbit will support ICEx with core platform technology and operational expertise. The goal is to help build a trading venue that is resilient, compliant, and ready to scale inside Indonesia’s digital asset landscape.The cooperation also extends beyond technical assistance. Both sides aim to accelerate the development of a regulated crypto ecosystem while keeping long-term growth aligned with supervision and reporting requirements.As part of that effort, the two companies will also explore custody innovation and regulatory technology. Those areas are expected to play a key role in improving monitoring, compliance, and reporting across the market.Global standards entering the local marketUpbit brings the experience of Dunamu Inc., the company behind one of South Korea’s leading digital asset exchanges. The platform is known for maintaining investor protection standards and strong regulatory compliance.Kyoungsuk Oh, Chief Executive of Dunamu, said the partnership with ICEx is intended to share Upbit’s platform technology and operational know-how. He emphasized that the collaboration is meant to strengthen the basic infrastructure of Indonesia’s digital asset sector.From ICEx’s perspective, the partnership offers access to global experience that can support local market development. Pang Xue Kai, Chief Executive of ICEx Group, said working with Upbit brings valuable global expertise to the local ecosystem.ICEx operates within Indonesia’s digital asset environment under the supervision of the Financial Services Authority, or OJK. That regulatory position makes international cooperation particularly relevant as the market develops within formal oversight.A foundation for the next stage of growthResna Raniadi, Chief Executive of Upbit Indonesia, said the collaboration between Dunamu and ICEx could become a strong foundation for the digital asset ecosystem. According to him, the partnership will bring global standards in technology, compliance, and investor protection.The message behind the agreement is clear: growth is important, but so is structure. By combining platform technology, regulatory support, and operational experience, the partnership aims to help Indonesia’s crypto market evolve with better governance.For ICEx, the cooperation may open the door to deeper integration of global practices into the domestic market. For Upbit, it extends the company’s influence beyond South Korea while reinforcing its role in building regulated digital asset infrastructure. Source: digital.viva.co.id

Upbit and ICEx Join Forces, Indonesia’s Crypto Market Gets a Global Upgrade