Update (Sept. 2, 9:40 am UTC): This article has been updated to add a comment from Binance.
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.
First investment came “over two years ago”
Binance’s $53 million investment in Medá is part of an ongoing commitment that began “over two years ago,” according to Binance’s regional vice president for Latin America, Guilherme Nazar.
“Rather than a one-time injection, this reflects Binance’s long-term dedication to supporting local growth and development in the region through Medá,” Nazar told Cointelegraph.
Official records from Mexico’s Diario Oficial de la Federación (DOF) show that Medá received its IFPE authorization in May 2022.
Binance did not immediately respond to Cointelegraph regarding why the investment is being disclosed only two years after it began.
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.”
Nazar 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.
“Between April 2024 and April 2025, Binance users in Mexico grew by 40% year-over-year,” Nazar told Cointelegraph, adding that trading volume during the same period doubled.
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“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.
Binance holds approvals in 23 jurisdictions
Binance’s expansion in Mexico aligns with its broader global compliance strategy. The exchange said it now holds licenses, registrations and other authorizations across 23 jurisdictions worldwide.
One of those jurisdictions includes France, where Binance’s local entity, Binance France, was required by the Financial Markets Authority to restructure its ownership. In May 2024, Binance France appointed new shareholders to meet the regulator’s requirements.
Among other cited jurisdictions, Binance mentioned Italy, Spain, Dubai, Japan, Brazil and Argentina.
According to data from the analytics website SimilarWeb, Brazil is one of the biggest markets for the Binance website, with the country ranking the fourth largest market by visits with a share of nearly 5%. Other top countries include South Korea, Ukraine, Vietnam and Turkey.
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