Strengthen Consumer Protection, Upbit Indonesia Announces New Head of Operations

Irvan Tisnabudi, Head of Operations Upbit Indonesia. (Photo: Special)

JAKARTA - Upbit Indonesia announced the appointment of Irvan Tisnabudi as Head of Operations. In his new role, Irvan will lead the strengthening of the company's operations, including security, governance, compliance, risk management, and the development of user-oriented innovation.

This appointment is part of Upbit Indonesia's commitment to supporting the growth of a safe and sustainable digital asset industry. According to Irvan, the increasing adoption of crypto assets needs to be followed by stronger consumer protection.

"The growth of the crypto asset industry must be accompanied by an increase in consumer protection standards. The public needs to be able to distinguish and sort between platforms that implement top-tier standards, and which ones do not. In crypto investments, price volatility is already high, don't let there be additional risks such as hacking or asset exploits again," said Irvan Tisnabudi, Thursday, August 13.

Beware of the Risks of Illegal Platforms

The ease of accessing crypto asset services gives people more choices, but also increases the risk of using illegal and low-quality platforms.

"There are still many people who entrust their funds to platforms that are not licensed and of low quality. People are still blinded by high returns but do not care about the risks that come with the rewards. The risks faced are not only the loss of assets, but also the lack of protection when problems occur. Therefore, we continue to invite people to choose platforms that meet the standards of regulation in Indonesia, so that they can trade and invest with peace of mind, and still be able to sleep well at night," he explained.

Therefore, the public needs to check the legality, operational quality, security system, and user protection mechanisms before choosing a cryptocurrency asset platform.

Strengthening Operations and Innovation

As Head of Operations, Irvan will ensure that Upbit Indonesia's operational processes remain in line with global standards and regulations in Indonesia. "At Upbit Indonesia, we believe that trust is built through high operational standards and global standards. We also apply the highest standards in running a top-tier exchange business and in accordance with the standards of the world's top exchanges. We continue to strengthen security, governance, compliance, and risk management; and in parallel we also continue to innovate so as not to be left behind in this aspect. "

Upbit Indonesia views the development of blockchain technology and on-chain-based systems will be increasingly connected with various financial services. However, these innovations still need to be supported by strong supervision, governance, and security.

"The development of the crypto industry is going very fast and will slowly touch more and more people. We believe that innovation and consumer protection must go hand in hand. In the future, more and more aspects of traditional finance will migrate to onchain, Upbit continues to present new technology and products in a balanced manner while placing security, compliance, and user interests as the top priority," continued Irvan.

Supporting Collaboration with OJK

Upbit Indonesia is also committed to collaborating with the Financial Services Authority (OJK) and other stakeholders in building a more solid digital asset industry standard.

"We are ready to become a partner of the OJK and so far we have not only been traders but also as advisors and provide input for all stakeholders in building a more solid digital asset industry standard. Through collaboration between regulators and industry players, we hope that the Indonesian people can enjoy access to innovation and global investment instruments with better protection, and can sort out and avoid misguided and low quality products", said Irvan.

With the size of the market and the rate of adoption of digital services, Indonesia is considered to have the potential to become one of the growth centers of the digital asset industry in the region.

"Indonesia has a great opportunity to become one of the centers of digital asset economies in the regional area due to its large market size and strategies. To achieve this, innovation must go hand in hand with good governance, so that the industry can grow healthily while providing optimal protection for consumers," concluded Irvan.

Through the appointment of Irvan Tisnabudi, Upbit Indonesia hopes to strengthen the operational quality of the company while contributing to the growth of the Indonesian digital asset industry that is safe, innovative, and trustworthy.