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With 20 million crypto investors, more than double its stock traders, Indonesia imposes a stock market-style infrastructure for digital assets. The ICEx group raised $70 million to build it.
JAKARTA, Indonesia, March 19, 2026 /PRNewswire/ — ICEx Group has obtained full licenses from the Indonesian Financial Services Authority (OJK) to operate an integrated digital asset exchange, clearing house and custodial system, completing a regulatory structure that places Indonesia among a small number of jurisdictions applying traditional capital markets architecture to cryptocurrency.
The registered crypto investor base in Indonesia has grown from around 4 million in 2020 to 20.19 million in December 2025 — a five-fold increase that now exceeds the entire investor base in the country’s capital market, i.e. 20.13 million ID. What took Indonesian capital markets decades to build, crypto achieved in five years. The country ranks third in the world Chainalysis Cryptocurrency Adoption Index and leads the Central Asia, South Asia and Oceania region in on-chain transaction value of approximately $157.1 billion.
Under the Indonesian framework, overseen by the OJK, each crypto transaction must pass through three distinct licensing levels: a regulated exchange (Bursa), a central clearing house and an independent custodian, reflecting the architecture of conventional stock and derivatives markets.
ICEx Group was created to fulfill these three roles. The group includes International Crypto Exchange (ICEx), Crypto Asset Clearing International (CACI) and International Crypto Custody (ICC), each independently licensed by the OJK.
Eleven of Indonesia’s largest exchanges, including Ajaib, Floq, Indodax, Mobee, Nanovest, OSL Indonesia, Reku, Samuel Kripto Indonesia, Tokocrypto, Triv and Upbit Indonesia, are founding shareholders, with some of Indonesia’s largest conglomerates and global exchanges participating as strategic investors. The consortium has raised around 1 trillion rupees ($70 million).
“Indonesian regulations require this three-tier infrastructure to exist. The 11 exchanges have chosen to own it collectively rather than relying on a third party,” said Pang Xue Kai, CEO of ICEx Group.
The mandated structure reduces counterparty risk and capital inefficiency. As the founding exchanges pass through ICEx clearing and custody, the infrastructure immediately reaches its combined base of 20 million users.
Indonesia presents a rare convergence: mass retail adoption, regulatory openness and now corresponding institutional plumbing. The ICEx Group is also exploring regulated tokenization of real-world assets and domestic stablecoin initiatives. The company will hold its grand launch on April 2, 2026, in Jakarta.
About ICEx
PT Fortuna Integritas Mandiri, operating under the International Crypto Exchange (ICEx) brand, is an OJK-licensed digital asset exchange that officially began operations on January 5, 2026, following the issuance of its crypto exchange business license by the Financial Services Authority (OJK) under Decision No. KEP-2/D.07/2026.
About ICEx Group
ICEx Group is the leading infrastructure developer of Indonesia’s digital assets market, establishing the country’s first integrated SRO ecosystem under the supervision of the OJK. The group includes three licensed entities: ICEx (digital asset exchange, KEP-2/D.07/2026), CACI (clearing services, KEP-12/D.07/2026) and ICC (institutional custody, KEP-11/D.07/2026). ICEx Group is dedicated to strengthening investor protection and enabling sustainable growth in Indonesia’s regulated digital economy.
ICEx Group
Brand & Communication Department
Equity Tower, Sudirman Central Business District, Jl. General Sudirman kav 52-53 No. Lot 9, Senayan, Kec. Kby. Baru, South Jakarta City, Special Capital Region of Jakarta 12190
E-mail: info@icex.id
Website: www.icex.id
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SOURCE International Cryptocurrency Exchange (ICEx)
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Source: PR Newswire
