Upbit and ICEx Sign Strategic MOU to Fortify Indonesia’s Digital Asset Infrastructure

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 bourse in Indonesia. The MOU establishes a strategic framework for technical and operational collaboration aimed at accelerating the development of Indonesia’s regulated crypto ecosystem and supporting the growth of a sustainable, well-governed market.

The partnership was marked by a high-level summit held at Upbit’s Seoul headquarters, where CEO Kyoungsuk Oh hosted a senior Indonesian delegation comprising high-ranking government officials, representatives from the Chamber of Commerce Indonesia, and key industry players to discuss the evolution of regulated digital finance.

The inclusion of the Chamber of Commerce underscores the mission to integrate it into the broader Indonesian commercial landscape. During the meetings, Upbit’s leadership and Kadin representatives discussed future-forward plans to bridge Korean technological prowess with Indonesian market potential, ensuring that the digital asset roadmap aligns with the country’s national economic interests and private sector growth.

Building a Regulated Global Standard

Under this strategic framework, Upbit will support the growth of Indonesia’s digital asset ecosystem by providing core platform technology and operational expertise to build and operate a resilient, compliant trading venue, including key exchange infrastructure such as matching, risk management, and market operations.

The partnership will also explore innovation in areas such as custody solutions while strengthening regulatory technology to enhance oversight, compliance, and reporting.

ICEx and Upbit have aligned 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.

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Expanding Upbit’s Regional Footprint

Upbit is positioning itself as a critical infrastructure partner across Asia, supporting the development of secure, transparent, and trusted digital asset market frameworks.

This collaboration marks another milestone in Upbit’s expanding role as a key driver of digital asset development across the region. The company has previously hosted high-level delegations from Vietnam—including senior government and financial leaders such as the Minister of National Defense, Minister of Finance, Chairperson of the State Securities Commission, and the Chairman of Military Bank—to showcase its advanced digital asset exchange infrastructure.

“This partnership reflects our commitment to fostering well-regulated digital asset ecosystems globally,” said Kyoungsuk Oh, CEO of Dunamu, operator of Upbit. “By working closely with ICEx, we aim to share the platform technology and operational expertise that have established Upbit as a market leader in Asia and strengthen the foundational infrastructure of Indonesia’s digital asset sector.”

A New Era for Indonesian Digital Finance

ICEx operates as an important part of Indonesia’s regulated digital asset ecosystem under the supervision of the Financial Services Authority (OJK). Established in line with Indonesia’s three-layer regulatory framework for digital asset transactions, comprising a licensed bourse, central clearinghouse, and supporting an integrated market structure within the country’s regulated framework. Upbit Indonesia is among its founding shareholders, alongside strategic investors including some of Indonesia’s largest conglomerates and global exchanges.

“Partnering with Upbit brings invaluable global expertise to our local ecosystem,” said Pang Xue Kai, CEO of ICEx Group. “Upbit’s leadership in compliance and technology was a decisive factor for us. We believe this collaboration will contribute to the development of a more secure and trusted market environment in Indonesia.”

Through this partnership, Upbit aims to support ICEx in laying the groundwork for a next-generation digital asset ecosystem in Indonesia while contributing to the broader evolution of regulated crypto markets across the region.

The parties formally announced the MOU at the Korea–Indonesia Business Partnership for Resilient Growth Forum on April 1st, 2026, a landmark bilateral event, attended by ministers and high-ranking officials from both countries. The forum featured the signing of MOUs by major companies from both countries across a range of sectors. The MOU between Upbit and ICEx underscored the strategic and institutional significance of the bilateral collaboration in digital finance innovation.

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