MEXC Ventures Partners With Triv to Expand in Indonesia's Booming Crypto Market

MEXC Ventures has announced a strategic partnership with Triv, a leading cryptocurrency exchange in Indonesia, signaling a major investment move into the country's fast-growing digital asset market. The partnership, while not disclosing the exact investment amount, represents a significant step forward for MEXC as it looks to expand its global footprint and establish a stronger presence in Southeast Asia [1].

Triv, which was founded in 2015 and serves over 3 million users, operates under the regulatory supervision of the Financial Services Authority (OJK) and the Commodity Futures Trading Supervisory Agency (BAPPEBTI). The platform supports a range of services including spot trading, staking, and futures trading. With the entry of MEXC, Triv now faces competition from other major players such as Tokocrypto (owned by Binance), Indodax, and Pintu [1].

This partnership comes at a pivotal moment, as Indonesia recently implemented major tax reforms for digital assets. The reforms include a 0.21% tax on local crypto trades—double the previous rate—and a 1% tax on foreign exchange users. While value-added tax on crypto purchases has been eliminated, higher tax burdens now apply to mining activities [1].

Gabriel Rey, CEO of Triv, emphasized that the MEXC partnership would go beyond financial support, aiming to enhance liquidity, expand the number of coin listings, and strengthen Triv's educational initiatives through its media platform, CryptoWave Media [1].

The investment aligns with a broader trend of international interest in Indonesia’s crypto market. Earlier this year, Hong Kong-based OSL Group acquired a local exchange operator for $15 million, further highlighting the region’s increasing appeal [1]. In 2024, crypto trading volumes in Indonesia have tripled to over $40 billion, and the number of crypto users has exceeded 20 million, surpassing traditional stock market investors [1].

The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice [1].

Source: [1] MEXC Ventures Bets Big on Indonesia Through New Partnership (https://coinmarketcap.com/community/articles/6891f363f7a0c65c1803095b/)