Upbit and ICEx sign strategic MOU to fortify Indonesia's digital asset infrastructure.

Indonesia now has more registered crypto investors (20.19M) than stock market participants (20.13M), and OJK's response was to impose a three-layer exchange/clearing/custody separation mirroring traditional equities — ICEx raised $70M from eleven local exchanges to build exactly that. Dunamu exporting Upbit's matching engine and risk stack to this nationally-licensed consortium means Korea is quietly becoming the infrastructure backbone for Southeast Asia's third-ranked crypto adoption market. If this OJK framework works, expect other ASEAN regulators to copy-paste it.

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More coverage

• Upbit and ICEx Sign Strategic MOU to Fortify Indonesia's Digital ... (prnewswire.com)
• Upbit signs business agreement with Indonesia's ICEx…expanding ... (en.bloomingbit.io)
• Dunamu (CEO Oh Kyung-seok), which operates Korea's largest ... (mk.co.kr)

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