MEXC Acquires Stake in Indonesia’s Triv Crypto Exchange Valued at $200 Million
MEXC Ventures, the investment arm of crypto exchange MEXC, has acquired a stake in Indonesian trading platform Triv as part of its expansion strategy in Southeast Asia. The investment is valued at $200 million.
MEXC Partnership to Boost Triv’s Outlook
Triv, established in 2015, is one of Indonesia's oldest crypto exchanges, with over 3 million registered users. It holds licenses for spot trading, staking, and futures, and operates under supervision from Indonesia’s Financial Services Authority (OJK) and BAPPEBTI. The partnership aims to enhance Triv's offerings and liquidity and support its media arm, CryptoWave Media.
Key points include:
- MEXC's investment completed at a valuation of $200 million
- Triv competes with major exchanges like Tokocrypto and Indodax
- This is Triv's first instance of securing institutional funding
- Partnership expected to expand coin offerings
Leo Zhao from MEXC Ventures highlighted Indonesia's dynamic digital asset market and Triv's reputation for compliance and security.
Indonesia Makes Strategic Moves in Its Crypto Market
Indonesia has implemented a regulatory sandbox that all crypto firms must navigate to obtain licenses. Any unlicensed cryptocurrency service is deemed illegal. Additionally, the Finance Ministry plans to adjust cryptocurrency taxes, increasing domestic trade tax from 0.1% to 0.21%, while foreign exchange trades will see an increase from 0.2% to 1%. This policy change eliminates VAT on digital asset purchases.