Binance Expands in Mexico With New Local Entity and $53M Investment

Binance, the world’s leading crypto exchange, has taken a big step to grow its presence in Latin America by launching Medá. The new Mexico-based company will play an important role in expanding financial technology services across the ￰0￱ is positioning itself as a serious force in Mexico’s growing fintech and crypto landscape by committing heavily into its new venture. Medá Creates A Fresh Path for Binance in Latin America The new entity, Medá, has been formally registered as an Electronic Payment Funds Institution (IFPE). This status places it under the regulation of Mexican financial ￰1￱ regulatory oversight is set to give Medá the legal framework to support deposits and withdrawals in Mexican ￰2￱ confirmed that Medá will function as an independent division, with its own leadership and operations ￰3￱ independence, the company explained, will help Medá set a higher standard in the local ￰4￱ goal is to build a sustainable model that improves trust and accessibility for Mexican ￰5￱ part of its effort, Binance is also partnering with Spanish banking giant BBVA to provide customers with a safer way to store their digital ￰6￱ Bets Big on Mexico’s Digital Finance Future As announced, Binance has pledged to invest over one billion Mexican pesos equivalent to $53 million in Medá during the next four ￰7￱ investment will go into creating simple and easy-to-use digital services that make financial technology more ￰8￱ said the plan is to give millions of Mexicans affordable and useful tools while encouraging more people to use digital ￰9￱ comes as an earlier survey showed that crypto adoption in Latin America is growing, with 95% crypto users are looking to expand their digital ￰10￱ the trading platform, Mexico is more than just another market, it is a key part of its growth in the ￰11￱ over 125 million people, the country has huge potential for digital finance and crypto ￰12￱ Grows Stronger in Latin America Guilherme Nazar, Binance’s vice president for Latin America, said Medá will help increase competition in the ￰13￱ explained that the platform is expected to become a strong local rival for services that support peso-based ￰14￱ also noted that competition is good for consumers because it pushes companies to offer better services at lower ￰15￱ from launching Medá in Mexico, Binance has also grown its presence in Latin America through Binance ￰16￱ crypto payments platform has expanded quickly and now supports money transfers in nine countries, including Colombia, Argentina, and ￰17￱ Binance Pay, users can send crypto that receivers can easily turn into money in their bank ￰18￱ Brazil, Binance went further by getting a broker-dealer license, making it the first crypto exchange in the country to achieve ￰19￱ step strengthens Binance’s legal and business position in Latin America’s largest economy.