Indonesia is building stock market-like infrastructure for its 20.19 million cryptocurrency investors, whose numbers have already exceeded stock traders. ICEx Group has obtained a license to operate comprehensive infrastructure combining an exchange, clearinghouse, and custodian in one, with the three-tier architecture complying with regulatory requirements. A consortium of 11 major Indonesian exchanges has raised $70 million to build this shared infrastructure, aiming to reduce risks and improve efficiency for the market's large user base.