Upbit Indonesia Welcomes ICEX, Promotes a More Competitive Crypto Ecosystem
JAKARTA - Upbit Indonesia, one of the licensed crypto asset industry players in Indonesia, welcomes the presence of International Crypto Exchange (ICEX) as a digital financial asset exchange that has just obtained official permission from the Financial Services Authority (OJK).
ICEX is the second cryptocurrency exchange in Indonesia that operates under OJK supervision, with a business license as a Digital Financial Asset Exchange Organizer. The presence of ICEX is expected to strengthen the structure of the national cryptocurrency asset market which is more competitive and no longer based on one business actor.
Upbit Indonesia believes that the presence of a new licensed crypto exchange will have a positive impact on the development of a healthy, competitive, and regulated digital financial asset ecosystem in Indonesia, in line with the regulator's policy direction in strengthening the governance of the national crypto industry.
Chief Operating Officer (COO) of Upbit Indonesia, Resna Raniadi, said that the existence of more than one licensed crypto exchange is an important element in building a more balanced market structure, while opening up opportunities for collaboration between industry players.
"Upbit Indonesia fully supports the development of a more competitive and regulated structure of the crypto asset market. The presence of more than one licensed crypto exchange will encourage the strengthening of industry governance and create space for the growth of a healthier and sustainable ecosystem," said Resna, Friday, January 16.
Resna added that collaboration between industry players within the framework of clear regulations is key in facing the dynamics and complexity of the ever-evolving digital asset market.
"In the future, the crypto asset industry requires close synergy between business actors, regulators, and all stakeholders. A more open and competitive market structure will help form a more mature market mechanism, while increasing investor confidence," he continued.
Through active involvement in this ecosystem, Upbit Indonesia hopes to contribute to increasing digital asset literacy, strengthening governance, and developing an inclusive and sustainable crypto investment ecosystem.
Upbit Indonesia also emphasized that all company activities will always run in accordance with the provisions set by the OJK, prioritizing the principles of prudence, transparency, and investor protection.