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Cryptocurrency Exchange UPbit Launches in Indonesia

29 January 2019 22:08 WIB

TEMPO.CO, Jakarta - South Korea’s established cryptocurrency exchange UPbit officially launched its operations in Indonesia following signs of potential blockchain ecosystem growth.

This marks the third country expansion of UPbit following South Korea and Singapore. UPbit Asia Pacific CEO Alex Kim expressed his optimism that Indonesia will have a role in the company’s Asia Pacific expansion.

According to Alex, the company he leads has earned multiple information security certifications from internationally-acclaimed standardizations comprising of; ISO 270001, ISO 27017 and ISO 27018.

First launched in 2017, UPbit ranks fourth most secure cryptocurrency service globally according to the global cryptocurrency analyst Crypto Exchange Ranks (CER).

UPbit Indonesia’s Head of Business Development Resna Raniadi explained that the firm adheres to international regulations and is monitored by the Indonesian Trade Ministry considering Indonesia’s lack of regulation on cryptocurrency trade.

“The growth in Indonesia is pretty fast considering it’s regulated in the grey area. But whatever the regulation is in the future, we will always try to adhere to it in order to protect our investors,” said Resna.

“We will first focus on those who are already using cryptocurrencies. And then maybe our biggest homework, other than regulation, is the level of engagement to communities. We prioritize millennials with crypto-knowledge and stocks in general and for sure businessmen.”

MOH KHORY ALFARIZI



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