Binance announced the launch of Medá, an institution of electronic payment funds (IFPE) authorized and supervised by Mexican financial authorities, which will seek to expand access to digital financial services in Mexico and Latin America.
The Medá operation will be in charge of an independent team and dedicated to promoting Fintech services, marking a milestone in Binance’s strategy to promote financial inclusion in the region.
With a planned investment of more than 53 million dollars in the next four years, Binance seeks to consolidate Mexico as a technological and financial innovation hub.
According to the company, Medá will allow users to make deposits and withdrawals in Mexican pesos, in addition to sending and using funds within the Binance ecosystem, which already connects more than 285 million people worldwide.
In a statement, Guilherme Nazar, regional vice president of Binance for Latin America, said:
“In a highly concentrated market, Medá aspires to become the leading alternative in the Fintech space as a transaction processor in Mexican pesos. We recognize that competition benefits consumers and, with Medá, we seek to offer higher quality services at more accessible costs.”
Regulation, education and compliance
With Medá, Binance adds a new advance in its global regulatory footprint, which already includes 22 jurisdictions such as France, Italy, Spain, Dubai, Japan, Brazil and Argentina.
The company also reinforces its commitment to education through Binance Academy, which in 2024 received more than 44 million users worldwide. In Mexico, its resources have reached students from institutions such as UNAM, the Technological of Monterrey and the Pan -American University.
In addition, Binance claims to invest hundreds of millions of dollars each year in compliance and security programs, working together with regulators and authorities to prevent and detect illegal activities.
A step towards the future Fintech in Mexico
With the launch of Medá, Binance reaffirms its commitment to the growth of the Fintech industry in Latin America. The company ensures that the combination of independent operations, regulatory supervision and education will be key to strengthening confidence in digital financial services and expanding financial inclusion in Mexico.
“We believe in the importance of promoting safe and sustainable ecosystems that generate social and economic opportunities for all Mexicans. Binance’s goal is to position Mexico as a Fintech innovation hub through this new independent vertical,” added the executive.
