Binance has announced the launch of its new Mexico-based entity, Medá, which will serve as a regional crypto hub and regulated fintech focused on advancing financial technology services across Latin America. The firm plans to invest over one billion Mexican pesos (approximately $53 million) over the next four years. Medá is registered as an Electronic Payment Funds Institution (IFPE) and will operate independently under the regulation of Mexican financial authorities, allowing for deposits and withdrawals in pesos. Binance aims to enhance competition in the local market, providing consumers with access to innovative financial services at more affordable costs. Guilherme Nazar, Binance's regional vice president for Latin America, stated that Medá will set a new benchmark in Mexico by fostering healthy collaboration between traditional finance and the virtual asset ecosystem.

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