Upbit, South Korea’s leading cryptocurrency exchange, has announced a technology partnership with ICEx of Indonesia. This collaboration aims to enhance the digital asset infrastructure and promote market development within Indonesia.
The signing ceremony took place at the Korea-Indonesia Business Forum held in Seoul on Wednesday. Notable attendees included Oh Kyoung-suk, CEO of Dunamu (Upbit’s operator), Pang Xue Kai, CEO of ICEx, Adi Budiarso, Director of Digital Asset Innovation and Regulation at Indonesia’s Financial Services Authority, and various other officials.
The forum coincided with the Indonesian President’s state visit to Seoul, which included a summit with South Korean President Lee Jae Myung.
As part of the agreement, Dunamu will share Upbit’s operational expertise to elevate Indonesia’s digital asset market and ecosystem to global standards. The partnership also encompasses discussions on broader collaboration to establish a robust digital financial infrastructure founded on reliable technology.
ICEx Group, according to Dunamu, operates under a comprehensive license, covering digital asset exchange, clearing, and custody services. Upbit Indonesia and ten other local exchanges are founding shareholders, with major Indonesian conglomerates and global exchanges participating as strategic investors.
“Upbit’s proven technology and regulatory capabilities will be critical to strengthening the credibility of Indonesia’s digital-asset market,” said Pang Xue Kai, emphasizing that this partnership is poised to “set a new benchmark for the country’s digital financial infrastructure.”
Oh Kyoung-suk stated, “We will work closely with ICEx to help foster a sound digital-asset ecosystem.”
jwc
