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

South Korea's Upbit, operated by Dunamu Inc., has signed a Memorandum of Understanding (MOU) with Indonesia Crypto Exchange (ICEx) to strengthen the regulatory and technical framework of Indonesia's digital asset market. The agreement was formally announced at the Korea–Indonesia Business Partnership for Resilient Growth Forum on April 1, 2026, a bilateral event attended by ministers and senior officials from both countries.

The MOU establishes a collaborative framework under which Upbit will provide core platform technology and operational expertise to help ICEx build and operate a resilient, compliant trading venue. This includes key exchange infrastructure such as matching engines, risk management systems, and market operations. The partnership will also explore innovations in custody solutions and regulatory technology to enhance oversight, compliance, and reporting.

During a high-level summit at Upbit's Seoul headquarters, Dunamu CEO Kyoungsuk Oh hosted a senior Indonesian delegation that included government officials and representatives from the Chamber of Commerce Indonesia (Kadin). Discussions focused on integrating digital assets into the broader Indonesian commercial landscape and bridging Korean technological expertise with Indonesian market potential.

"This partnership reflects our commitment to fostering well-regulated digital asset ecosystems globally," said Oh. "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."

ICEx operates under the supervision of Indonesia's Financial Services Authority (OJK) and is part of a three-layer regulatory framework for digital asset transactions that includes a licensed bourse, central clearinghouse, and an integrated market structure. Upbit Indonesia is among ICEx's founding shareholders, alongside strategic investors including major Indonesian conglomerates and global exchanges.

ICEx Group CEO Pang Xue Kai commented: "Partnering with Upbit brings invaluable global expertise to our local ecosystem. 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."

This MOU marks another milestone in Upbit's regional expansion across Asia. The exchange has previously hosted high-level delegations from Vietnam, including senior officials from the Ministry of National Defense, Ministry of Finance, and the State Securities Commission, to showcase its advanced digital asset exchange infrastructure.