MEXC Ventures Commits Capital to Indonesian Exchange Triv, Fueling SouthEast Asia Growth Strategy

MEXC Ventures Invests in Triv, Boosting Indonesian Crypto Sector

In a strategic move, MEXC Ventures, the investment arm of global cryptocurrency exchange MEXC, has invested in Triv, one of Indonesia's oldest and largest crypto exchanges. The deal, worth $200 million, is part of MEXC Ventures' strategy to strengthen its foothold in Southeast Asia.

Triv, established in 2015, serves over 3 million registered users and has earned a strong reputation for compliance, security, and user trust. The exchange, which is now valued at $200 million, will use the investment to expand its coin offerings, enhance liquidity, and introduce innovative products.

Leo Zhao, Investment Director at MEXC Ventures, stated that Indonesia is a strategic win due to its position as a well-established and compliant platform in a key market. According to Zhao, this investment provides MEXC direct access to a well-established and compliant platform in Indonesia.

Gabriel Rey, Triv's CEO and Founder, plans to use the investment to support the growth of CryptoWave Media, Triv's crypto-focused news outlet. However, there is no information available about Rey's position within Triv in the provided search results.

The investment comes amidst new crypto tax rules implemented in Indonesia on August 1st. Under the revised framework, sellers on domestic crypto exchanges will pay 0.21% tax on transaction value, up from the previous 0.1% rate. Despite these new regulations, the Indonesian crypto market continues to show immense potential.

The value of crypto trading in Indonesia surged by 335.9% in 2024 to over 650 trillion rupiah. The number of crypto users in Indonesia has also surpassed 20 million, outpacing the number of investors in the local stock market.

The region is becoming an increasingly attractive hub for digital asset innovation and investment. This deal marks a trend of international crypto players focusing on Southeast Asia as local governments establish clearer regulatory frameworks.

Crypto buyers who previously paid 0.11-0.22% in value-added tax (VAT) under the old system now have that component eliminated under the revised framework. On the other hand, crypto mining faces higher taxation, with VAT rates rising to 2.2% from 1.1%. Sellers using overseas exchanges face a more substantial increase to 1%, jumping from the prior 0.2% rate.

The Indonesian government's efforts to regulate the crypto sector are a positive step towards fostering a more secure and compliant environment for digital asset trading. As more investors and businesses enter the market, the potential for growth and innovation in the Indonesian crypto sector is immense.

MEXC Ventures Commits Capital to Indonesian Exchange Triv, Fueling SouthEast Asia Growth Strategy