MEXC Ventures has announced a new partnership with Indonesian crypto exchange Triv, highlighting the growing interest in digital assets in the region.
Partnership and Its Significance
MEXC Ventures recently announced its partnership with Triv, a platform founded in 2015. Currently, Triv serves over 3 million users and offers spot, staking, and futures trading services. The partnership is expected to enhance liquidity, expand the coin listings, and support educational initiatives, including CryptoWave Media.
Tax Reforms in Indonesia
Of note is the current tax situation on digital assets in Indonesia. The country has recently introduced significant tax reforms, with local crypto trades now taxed at 0.21%, double the previous rate. Users of foreign exchanges face a steeper tax rate of 1%. Meanwhile, the value-added tax (VAT) on purchases has been abolished.
Growth of the Crypto Market in Indonesia
The Indonesian cryptocurrency market is experiencing significant growth: in 2024, trading volumes tripled to over $40 billion, and the number of crypto users surpassed 20 million, outpacing traditional stock market investors. The interest from international investors in Indonesia's crypto ecosystem continues to increase.
The partnership between MEXC Ventures and Triv underscores Indonesia's importance as a rapidly growing center for crypto trading amid changing tax regulations and rising investor interest.
