ICEX Secures OJK License, Operations Still Pending

JAKARTA, Investortrust.id — International Crypto Exchange, or ICEX, operated by PT Fortuna Integritas Mandiri, secured an operating license from Indonesia Financial Services Authority on Monday, Jan 5, 2026 in Jakarta to run a Digital Financial Asset Exchange as Indonesia strengthens post transfer oversight of crypto markets, a move expected to deepen market confidence while delaying immediate trading activity.

The license was issued through OJK Decree No. KEP-2/D.07/2026 dated Monday, Jan 5, 2026, according to the authority.

OJK executive head for financial technology, digital financial assets, and crypto assets supervision Hasan Fawzi said the licensing process had been fully completed with the decree issuance.

However, he said ICEX could not immediately commence full operations despite holding the license.

Hasan said the exchange must first establish operational cooperation with clearing institutions, custodians, and licensed digital financial asset traders that will become exchange members.

He said the ecosystem requirements were essential to ensure orderly trading, transparency, and consumer protection, adding that OJK would continue supervising ICEX until it was fully operational.

The approval marked a milestone in Indonesia’s crypto market infrastructure following the transfer of regulatory and supervisory authority for crypto assets from Bappebti to OJK on Friday, Jan 10, 2025.

OJK said a regulated exchange framework was expected to strengthen investor trust and support sustainable growth in the digital financial asset industry.

Earlier, OJK issued Decree No. KEP-28/D.07/2025 dated Thursday, Dec 19, 2025, after ICEX management completed fit and proper tests.

ICEX president director Pang Xue Kai announced his appointment via LinkedIn, with Rizky Indraprasto named chief financial officer and Andrew Marchen as chief technology officer.

The board of commissioners included Ahmad Fuad Rahmany as president commissioner and Dumoly Freddy Pardede as commissioner, both long active in Indonesia’s investment sector.

ICEX operates under PT Fortuna Integritas Mandiri, backed by South Kalimantan businessman Andi Syamsuddin Arsyad, widely known as Haji Isam, with Happy Hapsoro also listed among shareholders.

The exchange was established with a shareholder structure involving 14 national companies, including nine licensed digital asset traders that are currently members of the existing crypto exchange CFX.

Those traders included Triv, Samuel Kripto, Upbit, Koinsayang, Mobee, Tokocrypto, Floq, Reku, and Nanovest, reflecting broad industry collaboration.