Floq, a cryptocurrency exchange regulated by the Financial Services Authority (OJK) in Indonesia, has secured a significant funding of IDR 203 billion. The funding, which comes from private and institutional investors including Ascent HFX Group and MD Capital, will be utilized to enhance technology infrastructure, improve cybersecurity, drive product development, and ensure regulatory compliance and good governance.
The achievement marks a milestone for Floq, which has reached over 1.8 million registered users in less than a year. The exchange is also recognized as one of nine licensed Digital Financial Asset Traders (PAKD) and is a member of CFX, Indonesia's first official crypto exchange.