Indonesia Crypto Exchange (ICEx) on Thursday launched its digital asset market infrastructure, introducing an integrated platform that combines trading, clearing, and custody as regulatory oversight of the sector shifts to financial regulator OJK.
The platform, unveiled at an event in Jakarta, operates under licences issued by OJK in January 2026, covering exchange operations as well as post-trade and custody services. The setup allows ICEx to function as a unified system within a self-regulatory organisation framework.
ICEx is backed by a consortium of 11 licensed digital asset traders, including Tokocrypto, Indodax, Upbit Indonesia, and Triv. The group has committed around $70 million in capital, according to the company.
“The launch brings together 11 PAKDs with $70 million in backing to build a domestic market infrastructure,” said Kai Pang, CEO of ICEx Group. “We chose to emphasise Indonesia as the foundation, rather than adopting an external model.”
The exchange integrates three entities: ICEx as the trading venue; Crypto Asset Clearing International (CACI) for clearing and settlement; and International Crypto Custodian (ICC) for asset storage. The structure consolidates functions that have typically operated separately in Indonesia’s crypto market.
“As a clearing institution, we handle settlement and transaction guarantees, which are intended to reduce counterparty risk,” said Andi Nirwoto, CEO of CACI. “The integration is designed to make settlement processes more predictable.”
Rather than adopting external frameworks, ICEx has developed a domestic model built by local industry players, operated by Indonesian exchanges and supervised by national regulators while being designed to scale globally. The structure also clarifies the relationship between market participants and regulators, with defined roles within a system directly overseen by the OJK.
“As a custody provider, we focus on secure asset storage aligned with regulatory requirements,” said Septiyan Andika Isanta, CEO of ICC. “This is part of building a more reliable investment environment.”
Indonesia remains one of Southeast Asia’s larger retail crypto markets, though institutional participation has been limited. Market participants have cited fragmented infrastructure and regulatory uncertainty as key constraints.
“We see this as shared infrastructure with institutional standards,” said Gabriel Rey, founder and CEO of TRIV Group. “It gives us room to continue operating within a clearer regulatory framework. We expect the number of crypto investors in Indonesia to grow and plan to work with ICEx as the market develops.”
