Upbit and ICEx Sign Strategic MoU to Strengthen Indonesia's Digital Asset Infrastructure
Upbit, a world-class digital asset exchange operated by Dunamu Inc., has 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 senior Indonesian delegation comprising high-ranking government officials, representatives from the Indonesian Chamber of Commerce, and key industry players to discuss the evolution of regulated digital finance.
The involvement of the Indonesian Chamber of Commerce (KADIN) underscores the mission to prepare for integration into Indonesia’s broader commercial landscape.
During the meeting, Dunamu’s leadership and KADIN representatives discussed forward-looking plans to bridge Korea’s technological strengths with Indonesia’s market potential, ensuring that the digital asset roadmap aligns with national economic interests and private sector growth in Indonesia.
“The signing of the MoU between Upbit and ICEx is a highly important strategic step in strengthening the foundation of Indonesia’s digital asset ecosystem. We warmly welcome this strategic partnership. We believe that the collaboration between Dunamu and ICEx will form a strong foundation in building a secure, regulated, and trusted digital asset ecosystem in Indonesia, bringing global standards in technology, compliance, and investor protection,” stated Resna Raniadi, CEO of Upbit Indonesia, in a written statement on Friday (03/4).
Furthermore, Resna expressed, “By combining global technological strengths and a deep understanding of the local market, we are optimistic that Indonesia can become one of Asia’s largest digital asset growth centres. 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 delivers positive impacts for the industry and investors in Indonesia.”
Building Regulated Global Standards
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 robust and compliant trading venue, including key exchange infrastructure such as matching, risk management, and market operations.
The partnership will also explore innovations in areas such as custodial solutions while strengthening regulatory technology to enhance oversight, compliance, and reporting.
ICEx and Upbit are officially collaborating 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 Footprint
Upbit positions itself as a key infrastructure partner across Asia, supporting the development of safe, transparent, and trusted digital asset market frameworks.
This collaboration marks another significant milestone in Upbit’s growing role as a major driver of digital asset development across the region.
Previously, Upbit hosted a high-level delegation from Vietnam, including senior government and finance leaders, to showcase its advanced digital asset exchange infrastructure.
“This partnership reflects our commitment to promoting well-regulated digital asset ecosystems globally,” said Dunamu CEO Kyoungsuk Oh in a written statement on Friday (03/4).
“By working closely with ICEx, we aim to share the platform technology and operational expertise that have made Upbit a market leader in Asia and strengthen the foundational infrastructure of Indonesia’s digital asset sector,” he added.
A New Era for Indonesia’s Digital Finance
ICEx operates as a key component of Indonesia’s regulated digital asset ecosystem 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, a central clearing institution, and a supportive integrated market structure within the regulatory framework.
Upbit Indonesia is among the shareholders of the ICEx group, alongside several 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 is a game-changer for us. We believe this collaboration will contribute to developing a safer and more trusted market environment in Indonesia,” he explained.
Through this partnership, Upbit supports ICEx in laying the groundwork for Indonesia’s next-generation digital asset ecosystem while contributing to the broader evolution of regulated crypto markets across the region.
The parties officially announced the MoU at the Korea-Indonesia Business Partnership Forum for Resilient Growth on 1 April 2026, a key bilateral event attended by ministers and high-ranking officials from both countries.
The forum featured MoU signings by major companies from both nations across various sectors.
The MoU between Dunamu and ICEx highlights the strategic and institutional significance of bilateral collaboration in digital financial innovation.