Investment by MEXC Ventures in Indonesian cryptocurrency exchange Triv at a valuation of $200 million
MEXC Ventures, the investment arm of global cryptocurrency exchange MEXC, has made a strategic investment in Triv, a leading Indonesian cryptocurrency trading platform. This move signals a growing trend in Indonesia's crypto market and reflects MEXC’s broader strategy to back high-potential ventures in Southeast Asia’s rapidly expanding digital asset market.
Triv's Strong Position in Indonesia's Crypto Ecosystem
Founded in 2015, Triv is one of Indonesia’s oldest and most compliant crypto exchanges. With over 3 million registered users and more than 1,000 crypto assets for trading, Triv boasts a robust user base and a diverse range of offerings. Its strong compliance is underscored by dual regulatory licenses from the Indonesian Financial Services Authority (OJK) and the Commodity Futures Trading Regulatory Agency (BAPPEBTI).
Expansion and Innovation
MEXC's investment aims to enable Triv to expand its coin offerings, enhance liquidity, develop product innovation, and grow its local crypto media platform, CryptoWave Media. This strategic move reflects confidence in Indonesia’s market growth and the role of regulated platforms in fostering sustainable adoption.
Indonesia's Promising Digital Asset Market
Indonesia is recognised by MEXC Ventures as one of Southeast Asia’s most promising digital asset markets, characterised by increasing crypto adoption driven by widespread internet access and growing user interest. The value of cryptocurrency transactions in Indonesia surpassed 650 trillion Indonesian Rupiah (~$40 billion) in 2024, highlighting the market's potential.
Competitive Landscape
Triv now competes with larger operators such as Tokocrypto (owned by Binance), Pintu (funded by Pantera Capital), and Indodax in Indonesia's competitive crypto market. The entry of new players like the OSL group further intensifies the competition.
Regulatory Shifts and User Behaviour
The changes in Indonesia's crypto regulations are expected to shift user behaviour towards regionally regulated exchanges like Triv, strengthening their market position. The new rules have raised the transaction tax on domestic exchanges to 0.21% and 1% for foreign platforms, increased VAT on crypto mining to 2.2%, and exempted VAT on crypto purchases.
In summary, MEXC's investment in Triv is both a vote of confidence in Triv’s established market presence and a strong indication of Indonesia’s expanding position as a key crypto market in Southeast Asia. It highlights an upward trajectory in Indonesia’s crypto ecosystem driven by regulation, user growth, and increasing digital asset innovation.
- Triv's strategic partnership with MEXC Ventures will allow for crypto mining innovation, as the investment aims to develop product innovation within Triv.
- The growing trend of investing in cryptocurrency exchanges is evident, as MEXC's strategic move to back Triv reflects a broader strategy in the finance industry to support high-potential ventures in Southeast Asia's rapidly expanding digital asset market.
- The increasing regulation of cryptocurrency trading platforms, such as Triv's dual regulatory licenses, plays a significant role in fostering sustainable adoption and shaping user behavior, as users may prefer using regionally regulated exchanges due to the new rules.
