ICEx Secures OJK License After $70M Raise — Indonesia’s Second Regulated Exchange
ICEx, the International Crypto Exchange, has received an operating license from Indonesia’s Financial Services Authority (OJK), becoming the country’s second fully regulated crypto exchange after Pintu. The approval, confirmed in early 2025 following the transfer of crypto oversight from Bappebti to the OJK, requires ICEx to meet bank-like AML/KYC, consumer protection and custody standards. ICEx completed a strategic $70 million funding round from regional VCs and fintech partners to strengthen technology infrastructure, regulatory compliance, market education and local hiring. The license raises market-entry standards, signals clearer regulatory classification of crypto as regulated financial securities, and creates a near-term regulated duopoly (ICEx and Pintu) under OJK oversight. For traders, expected effects include safer on-ramps and custody, improved dispute resolution and institutional confidence, increased competition on fees and services, and clearer pathways for regulated products (e.g., custody, staking) pending approvals. Short-term impacts are likely to be higher retail and institutional flows into licensed venues and improved operational security; medium-term effects include potential partnerships with banks and a stricter barrier for new entrants due to capital and governance requirements.
Neutral
The news is broadly neutral for crypto prices of individual tokens because it concerns regulatory infrastructure and market structure rather than a protocol or token issuance. Licensing of ICEx and its $70M raise improves on‑ramp security, custody standards and institutional access in Indonesia, which supports greater regulated flows into licensed exchanges. That tends to be bullish for trading volumes and for assets listed on those exchanges over time, but it does not directly increase demand for any specific cryptocurrency token. Short-term market reaction may be muted or limited to gains in Indonesian-listed liquidity or firms tied to ICEx; volatility could rise as traders reposition around custody and exchange risk. Medium- to long-term effects are constructive for market stability and institutional inflows, which can support price appreciation gradually, but the immediate price impact on specific coins is likely limited—hence a neutral classification.