Binance, the world’s largest centralized crypto exchange (CEX) by market capitalization, is expanding its operations in Mexico by launching a new local entity and a fresh investment commitment.
Binance announced the launch of its new Mexico-based entity, Medá, in a statement shared with Cointelegraph on Monday.
Medá is registered as an Electronic Payment Funds Institution (IFPE) and will operate as an independent division focused on advancing fintech services for Binance throughout Latin America.
“With a planned investment exceeding one billion Mexican pesos ($53 million) over the next four years, Binance aims to expand access to innovative, user-friendly digital services through this vertical, creating a positive impact on the Mexican population,” Binance said.
Focused on operational autonomy
Binance emphasized that Mexican financial authorities regulate its new Latin American entity as an IFPE to facilitate deposits and withdrawals in Mexican pesos.
“It will be managed and operated by an independent team, ensuring operational autonomy,” the company said, adding:
“This independence will set a new benchmark in Mexico by implementing best practices that foster healthy and sustainable development between the traditional financial sector and the virtual assets ecosystem.”
Guilherme Nazar, Binance’s regional vice president for Latin America, said that Medá aims to become a major local rival among platforms enabling transactions in Mexican pesos. He stressed that Mexico is a key market for Binance with a population exceeding 125 million.
“Recognizing that increased competition benefits consumers, Medá will provide the Mexican population with access to higher-quality financial technology services at more affordable costs,” he noted.
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