MEXC Ventures, the investment arm of global cryptocurrency exchange MEXC, announced a strategic investment of an undisclosed amount in Triv, a leading Indonesian cryptocurrency trading platform, valuing the company at $200 million.
Triv was established in 2015 as one of the first licensed digital asset platforms in Indonesia and has over 3 million registries. It also has regulatory licenses for spot trading and staking, as well as futures, and is regulated by both the Financial Services Authority (OJK ) and the Commodity Futures Trading Regulatory Agency.
MEXC Venture’s Investment Director, Leo Zhao, highlighted Indonesia’s growing significance in the region’s crypto economy. “Indonesia is one of the most dynamic and promising digital asset markets in the region,” Zhao stated. “Triv has earned a strong reputation for compliance, security, and user trust.”
Gabriel Rey, Triv’s Founder and CEO, said the partnership with MEXC will help the platform expand its coin listings, increase liquidity, and support CryptoWave Media, Triv’s affiliated media outlet.
Until now, however, Triv had not disclosed any institutional funding, and it remains uncertain if this MEXC deal is its first formal capital raise. MEXC also declined to reveal investment details.
The announcement follows Indonesia’s execution of new crypto tax rules on August 1.
The new rules have raised the transaction tax on domestic exchanges to 0.21% and 1% for foreign platforms. VAT on crypto mining has increased to 2.2%, while VAT on crypto purchases has been exempted. Additionally, the 0.1% special income tax on mining operations is set to be phased out by 2026.
These changes are expected to shift user behavior to regionally regulated exchanges like Triv, strengthening their market position.
Indonesia permits crypto as an investment asset, though not for payments. The value of cryptocurrency transactions in Indonesia crossed over 650 trillion Indonesian Rupiah (~$40 billion) in 2024. Over 20 million people enrolled on a licensed crypto platform in the same year, surpassing the nation’s stock market.
The investment made by MEXC Ventures in Triv highlights a calculated risk in Indonesia’s developing cryptocurrency market.
Meanwhile, with the crypto market in Indonesia becoming competitive, Triv now competes with more significant operators such as Tokocrypto (owned by Binance), Pintu (funded by Pantera Capital), and Indodax. The OSL group, which has its base in Hong Kong, made news a few days back when it acquired Evergreen Crest Holdings for USD 15 million and entered the market.
Also Read: Indonesia’s Crypto Tax Revenue Surges, New Regulations Signal
