Jakarta-based digital asset platform Floq secured US$11.3 million from private and institutional investors, including Ascent HFX Group and MD Capital, to fund its expansion in Indonesia.

Floq said it surpassed 1.8 million registered users in less than a year after launching in May 2025.

It plans to use the funding to strengthen its technology infrastructure, cybersecurity, product capabilities, compliance, and governance.

The company provides crypto trading and related digital asset services for Indonesian users.

Floq is among nine licensed digital asset traders that are members of CFX.

Indonesia tightened oversight after the handover of crypto supervision from the Commodity Futures Trading Regulatory Agency, or Bappebti, to the Financial Services Authority, or OJK, on January 10, 2025.

The rules set new licensing and operating requirements for digital asset firms.

OJK data showed Indonesia had 19.56 million crypto holders in November 2025, while transaction value reached 482.2 trillion rupiah (US$27 billion) that year.

🔗 Source: Floq