JAKARTA - Upbit, a world-class digital asset exchange operated by Dunamu Inc., today announced that it has signed a Memorandum of Understanding (MOU) with Indonesia Crypto Exchange (ICEx), a licensed digital asset exchange in Indonesia. This MOU establishes a strategic framework for technical and operational collaboration aimed at accelerating the development of a regulated crypto ecosystem in Indonesia and supporting sustainable and well-managed market growth.
The partnership was marked by a high-level meeting held at Upbit's headquarters in Seoul, where CEO Kyoungsuk Oh hosted a delegation of senior Indonesians consisting of high-level government officials, representatives from the Indonesian Chamber of Commerce, and key industry players to discuss the evolution of regulated digital finance.
The participation of the Indonesian Chamber of Commerce (KADIN) underlines the mission for preparation for integration into the wider Indonesian commercial landscape. During the meeting, Dunamu's leadership and Kadin representatives discussed future plans to bridge Korean technological advantages with Indonesia's market potential, ensuring that the digital asset roadmap is aligned with national economic interests and private sector growth in Indonesia.
Building a Regulated Global StandardWithin this strategic framework, Upbit will support the growth of the Indonesian digital asset ecosystem by providing core platform technology and operational expertise to build and operate a robust and compliant trading venue, including key exchange infrastructure such as matching, risk management, and market operations.
This partnership will also explore innovation in areas such as custody solutions while strengthening regulatory technology to improve supervision, compliance, and reporting. ICEx and Upbit officially collaborated as strategic partners to leverage Upbit's proven track record as South Korea's leading exchange and its global reputation for maintaining the highest standards in investor protection and regulatory compliance.
Expanding Upbit's Regional FootprintUpbit positions itself as an important infrastructure partner across Asia, supporting the development of a secure, transparent, and trusted digital asset market framework.
This collaboration marks another important milestone in Upbit's growing role as a key driver of digital asset development across the region. Previously, Upbit has hosted high-level delegations from Vietnam, including senior government and financial leaders, to showcase its advanced digital asset exchange infrastructure.
"This partnership reflects our commitment to promoting a globally regulated digital asset ecosystem. By working closely with ICEx, we aim to share platform technology and operational expertise that have made Upbit a market leader in Asia and strengthen the basic infrastructure of Indonesia's digital asset sector," said Dunamu CEO Kyoungsuk Oh.
A New Era for Indonesia's Digital FinanceICEx operates as an important part of the Indonesian digital asset ecosystem that is regulated under the supervision of the Financial Services Authority (OJK). It was established in accordance with Indonesia's three-tier regulatory framework for digital asset transactions, consisting of licensed exchanges, central clearing institutions, and supporting integrated market structures within the regulatory framework. Upbit Indonesia is among ICEx group shareholders, along with several strategic investors including some of Indonesia's largest conglomerates and global exchanges.
"Partnering with Upbit brings invaluable global expertise to our local ecosystem. Upbit's leadership in compliance and technology is a deciding factor for us. We believe this collaboration will contribute to the development of a safer and more trusted market environment in Indonesia," said Pang Xue Kai, CEO of ICEx Group.
Through this partnership, Upbit supports ICEx in laying the foundation for the next generation digital asset ecosystem in Indonesia while contributing to the evolution of a more broadly regulated crypto market across the region.
The parties officially announced the MOU at the Korea-Indonesia Business Partnership Forum for Resilient Growth on April 1, 2026, an important bilateral event attended by ministers and high-ranking officials from both countries. The forum featured the signing of the MOU by major companies from both countries in various sectors. The MOU between Dunamu and ICEx underscores the strategic and institutional significance of bilateral collaboration in digital financial innovation.
Upbit Indonesia SupportResponding to the good news that has just been carried out, as part of Upbit, Resna Raniadi as the CEO of Upbit Indonesia gave a positive response.
"The signing of the MoU between Upbit and ICEx is a very important strategic step in strengthening the foundation of the Indonesian digital asset ecosystem. We welcome this strategic partnership. We believe that the collaboration between Dunamu and ICEx will be a strong foundation in building a safe, regulated, and trusted digital asset ecosystem in Indonesia that will bring global standards in terms of technology, compliance, and investor protection," said Resna.
Furthermore, Resna revealed that by combining the power of global technology and a deep understanding of the local market, his party is optimistic that Indonesia can become one of the largest growth centers for digital assets in Asia.
"Upbit Indonesia is proud to be part of this journey as a founding shareholder of ICEx, and we are fully committed to ensuring that this collaboration has a positive impact on the industry and investors in Indonesia," explained Resna.
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