Timothy Ronald's Crypto Exchange Secures Rp203 Billion in Funding

FLOQ, a crypto exchange under the supervision of the Financial Services Authority (OJK) and founded by Timothy Ronald, has successfully secured a massive funding round of Rp203 billion. This capital injection is intended to accelerate the company’s business expansion across Indonesia.

The current funding round involves private and institutional investors, including Ascent HFX Group and MD Capital. The fresh capital will be utilised to strengthen technological infrastructure, cybersecurity, product development, regulatory compliance, and corporate governance.

This achievement follows FLOQ’s rapid growth, having successfully attracted over 1.8 million registered users in less than a year. Furthermore, FLOQ is recognised as one of the nine licensed Digital Financial Asset Traders (PAKD) and is a member of CFX, marking its position as one of the first official crypto exchanges in Indonesia.

The funding comes at a time when the regulatory landscape for the crypto asset industry in Indonesia is maturing. As of 10 January 2025, oversight of the industry officially transitioned from the Commodity Futures Trading Regulatory Agency (Bappebti) to the OJK.

This significant transition is expected to attract crypto asset investors in Indonesia, where the number of accounts reached 21.37 million as of March 2026. During the period of 1 to 31 March 2026, the spot market trading volume was recorded at Rp22.2 trillion.