Indonesian digital asset platform FLOQ has raised US$11.3 million in its first external funding round, as reported by DealStreetAsia.

Strategic and institutional investors including MD Capital and AscentHFX Group backed the capital raise.

The company will use the funds to upgrade its technology infrastructure, improve cybersecurity, and build out its compliance systems.

Former Tokocrypto Chief Executive Yudhono Rawis founded the platform, which launched in May 2025. It has since accumulated over 1.8 million registered users.

Prior to this venture, Rawis held leadership roles at Binance and served as a partner at KPMG Indonesia.

For its next phase of growth, FLOQ plans to introduce digital asset derivatives for both retail and institutional investors.

The firm also intends to launch an educational platform called FLOQ Academy and support the development of rupiah-backed stablecoins.

“Investors today are significantly more selective and disciplined in how they allocate capital, particularly within the technology and digital asset sectors,”

said Yudhono Rawis, Chief Executive Officer, FLOQ.

Rawis added that the market is no longer rewarding growth narratives alone, prompting the firm to focus on institutional-grade infrastructure rather than short-term market cycles.

The funding arrives as Indonesia’s digital asset sector undergoes a major regulatory transition.

The Financial Services Authority (OJK) has assumed oversight of the digital asset sector as part of efforts to integrate it more closely into Indonesia’s financial system.

Market participants expect this shift to enforce higher standards for governance, risk management, and consumer protection.

Retail crypto participation in the archipelago continues to grow rapidly.

The OJK recorded crypto asset transactions hitting 482.23 trillion rupiah in 2025.

The regulatory body noted that the number of crypto asset holders reached 19.56 million by November 2025, up from 19.08 million the previous month.

Industry data highlights this long-term growth, with multi-asset trading platform Pluang reporting that the number of crypto investors in the country surged to 19 million in 2025 from fewer than one million five years earlier.

Featured image credit: Edited by Fintech News Indonesia, based on image by mkmult via Magnific and FLOQ