- Binance launches Medá, a new fiat channel in Mexico, with over $53 million in investment.
- Medá plans to boost financial services in Latin America, offering seamless payment solutions.
- Binance holds licenses in 22 regions globally, boosting finance, education, and compliance.
Binance has launched Medá, a regulated Electronic Payment Funds Institution (IFPE) in Mexico, marking a significant expansion in Latin America. The global crypto exchange has proposed to invest over a billion pesos ($53 million) over the next four years.
Medá aims to serve as a seamless bridge for users to deposit and withdraw Mexican pesos, offering a significant connection between fiat currency and digital assets. This launch also increases access to crypto and digital financial services in the region.
Medá’s Role in Promoting Financial Inclusion in Mexico
According to crypto exchange Binance, Medá will operate independently under the Mexican financial system and provide fiat-to-crypto conversion services. Additionally, the platform’s ability to deposit and withdraw pesos within the Binance ecosystem closes a gap in Mexico’s digital asset market.
Guilherme Nazar, Binance’s Regional Vice President for Latin America, stressed the importance of market competition. “Medá will provide the Mexican population with access to higher-quality financial technology services at more affordable costs,” said Nazar. This project aims to enhance competition in the cryptocurrency and financial sectors in Mexico, offering a low-cost alternative to conventional payment systems.
The launch aligns with Binance’s strategic direction to promote financial inclusion, where access to banking and digital financial services is limited. Medá will bridge this gap by boosting efficient and affordable digital solutions to users globally.
Expanding Binance’s Crypto Regulatory Presence
According to Binance, Medá’s launch in Mexico is another milestone in the crypto exchange’s global regulatory approach. Operational in over 22 jurisdictions, Binance has expanded its presence in regions with established crypto regulatory frameworks.
In Mexico, the Medá crypto trading operations will be under the oversight of the local financial authorities. Furthermore, the crypto exchange has already established a strong regulatory presence in countries such as France, Italy, Spain, Dubai, Japan, Brazil, and Argentina. Nazar noted the significance of the Mexican market, saying, “Mexico is a key market for Binance with a population exceeding 125 million.”
Furthermore, by securing this regulatory approval, Binance further demonstrates its commitment to adhering to local laws and fostering a more transparent and stable market for users.
Medá aims to strengthen Binance’s role as an independent player in Mexico’s competitive financial markets. By offering a regulated and trustworthy service, Medá will set a new standard for digital financial services in the country and provide a safer choice for consumers.
Binance’s Crypto Education and Compliance Efforts
In addition to providing financial services, Binance is dedicated to educating Mexican users. Binance Academy, its educational platform, now has millions of users globally. In 2024, over 44 million students, including those from Mexican universities like the National Autonomous University of Mexico and Monterrey Institute of Technology, are part of the program.
Furthermore, Binance highlights its commitment to compliance by investing in programs that adhere to international standards and local laws. The platform works closely with national law enforcement and regulatory bodies to detect and prevent illegal activities. This focus on compliance improves the platform’s transparency, fostering long-term trust in Medá’s services.
Related: Binance Partners with Spain’s BBVA for Custody Solution
On the whole, Binance’s investment in Medá has the potential to establish Mexico as a leader in crypto and fintech in Latin America. Nazar said, “Through continued investment, we hope to help Mexico build a safe, sustainable, and inclusive digital economy.”
Through this initiative, Binance is opening up new avenues for crypto and financial inclusion and access to secure and user-friendly digital financial services. Medá ‘s success may provide a framework for similar ventures throughout Latin America, further integrating digital assets into the region’s financial systems.
