Key takeout
- Binance launched Medá, a Mexican IFPE entity, and helped over $53 million to expand its financial technology services.
- Medá aims to enhance financial inclusion and provide affordable transaction solutions for the Mexican peso within the Binance ecosystem.
Binance has established a new entity, a Mexican medal. Meda operates independently as an electronic payments fund institution (IFPE) and focuses on advances in financial technology services across Latin America.
Approved and overseen by Mexican financial authorities, Meda encourages deposits and withdrawals in the Mexican peso within the vinanence ecosystem, which currently serves more than 285 million users worldwide.
Meda is part of Binance’s push to make Mexico the Latin American financial technology hub. The company is committed to investing more than 1 billion people in Mexican pesos ($53 million) in the project over the next four years.
Guilherme Nazar, Regional Vice President of Latin America at Binance, said along with Meda, the team is trying to increase competition in the Mexican financial technology market and provide users with more efficient and cost-effective solutions.
“Recognizing that increasing competition will benefit consumers, Meda will provide Mexico’s population with access to high-quality financial technology services at a more affordable cost,” Nazar said.
With Medá, Binance has achieved a significant regulatory milestone and expanded its approved business to Mexico. The company has already established strong regulations in several countries, including France, Italy, Spain, Dubai, Japan, Brazil and Argentina.
“With the population exceeding 125 million, Mexico is a key market for expanding access to financial inclusion,” Nazar added. “We believe in the importance of fostering a safe and sustainable ecosystem that creates wider opportunities for all Mexicans from a social and economic development perspective.”
Binance’s education initiative, Binance Academy, educated more than 44 million students around the world in 2024 through courses, workshops and partnerships with institutions such as the National Autonomous University of Mexico, the Monterrey Institute of Technology, and the University of Panamelikan.
