In a strategic move to deepen its Southeast Asian footprint, MEXC Ventures has invested in Triv, a long-standing but under-the-radar crypto exchange in Indonesia, at a valuation of $200 million.
While the investment amount remains undisclosed, the deal marks a significant push into one of the region’s most rapidly evolving digital asset markets.
Founded in 2015, Triv has built a user base of over 3 million and operates under regulatory oversight from both the OJK and BAPPEBTI. The platform offers spot, staking, and futures trading, and now finds itself competing in a crowded field that includes Tokocrypto (owned by Binance), Indodax, and Pintu.
The timing of the deal is notable. Indonesia just introduced sweeping tax reforms for digital assets. Local crypto trades now carry a 0.21% tax—double the previous rate—while foreign exchange users face a steeper 1%. VAT on purchases has been dropped, but mining now incurs higher tax burdens.
Gabriel Rey, Triv’s CEO, said the MEXC partnership will go beyond capital, helping boost liquidity, expand coin listings, and support its educational arm, CryptoWave Media.
The investment follows a broader trend of international interest in Indonesia’s crypto space. Earlier this year, Hong Kong-based OSL Group acquired a local exchange operator for $15 million. Meanwhile, crypto adoption in Indonesia has soared: in 2024, trading volumes tripled to over $40 billion, and the number of crypto users surpassed 20 million—outpacing traditional stock market investors.
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Source: https://coindoo.com/mexc-ventures-bets-big-on-indonesia-through-new-partnership/