Binance has launched Medá, a Mexican authorized electronic payments funding agency. The new entity will operate independently and will direct more than $53 million towards peso-based payment services over four years.
The move represents an expansion of Binance’s operations in Latin America under the approval of local regulators.
Mexican Fintech Market Entry
Binance, the world’s largest cryptocurrency exchange by trading volumes, has announced the creation of Meda, a regulatory body authorized to provide electronic payment services in Mexico. The company said it would allocate 1 billion pesos ($53 million) to businesses over the next four years.
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Medá operates separate from Binance’s global exchange business, focusing solely on services that have been religiously made by the Peso. The corporate structure aims to comply with Mexican regulations while providing dedicated vehicles for local financial operations.
Gilherme Nazar, the regional vice president of Latin American Binance, described Mexico as an important market for the region. He said the company hopes that Meda will offer additional options for PESO trading in the financial sector, which is currently concentrated in several providers.
Mexican authorities have allowed Meda to manage deposits and withdrawals in local currency. Binance is also pursuing regulatory approval in other jurisdictions and is currently being implemented in 23 countries, including France, Italy, Spain, Japan, Brazil and Argentina.
The company argues that competition in the Mexican fintech sector can reduce consumer costs and improve efficiency. Whether or not such results will depend on how users and regulators receive new entrants.
Education and Financial Inclusion Initiative
Binance also reports investments in education programs through Binance Academy, providing resources to more than 44 million people worldwide in 2024. In Mexico, it included collaboration with institutions such as the National Autonomous University of Mexico (UNAM) and Tecnológicode De Monterey. These initiatives focus on digital finance literacy, but not on approval of a specific product.
The introduction of Meda shows Binance’s continued efforts to build regulated businesses in Latin America. The size of the investment sets a financial benchmark, but the results depend on the regulatory oversight of the Mexican payments sector, market adoption, and competitive dynamics.
