Binance is expanding its presence in Latin America with the launch of a new Mexican entity that will handle peso deposits and withdrawals.
The crypto exchange has committed more than one billion pesos ($53 million) over the next four years to develop the project, underscoring Mexico’s role as a key market in the region.
Medá’s Role in Mexico
Medá is registered as an Electronic Payment Funds Institution (IFPE) and will run independently from Binance’s main operations. Mexican regulators have authorized the platform to process local currency transactions, enabling users to deposit, withdraw, and send pesos directly within the Binance ecosystem.
Mexico’s population of more than 125 million makes it one of the most significant markets for digital finance in Latin America. Binance has positioned the country as central to its expansion strategy, citing both demand for modern financial services and the opportunity to improve financial inclusion.
The launch adds to Binance’s growing list of licenses and registrations in 22 jurisdictions, including France, Italy, Spain, Brazil, and Japan.
Independent Operations and Oversight
By operating as a separate entity, Medá aims to balance innovation with regulatory expectations. Mexican financial authorities will oversee its activities, while the structure is designed to ensure separation from Binance’s global crypto exchange.
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The model also seeks to strengthen ties between traditional banking systems and emerging digital asset services. Binance expanded its footprint in Latin America this January after receiving regulatory approval in Brazil to acquire Sim;paul, a locally licensed broker-dealer.
With the deal completed, Binance now operates as a licensed broker-dealer in Brazil, a country that Chainalysis ranks among the top ten worldwide for cryptocurrency adoption.
The approval positions Binance to offer a wider range of services to Brazilian users while strengthening its compliance profile in a key market. The Central Bank of Brazil cleared Binance’s purchase of Sim;paul, whose licenses include distributing securities and issuing electronic money.
