Binance, the world’s largest cryptocurrency exchange, is making a bold push into Mexico with the launch of a new local entity, Medá, and a planned $53 million investment. The company announced the move this week, signaling its intent to cement a dominant position in Latin America’s fast-growing digital finance market.

Medá is officially registered as an Electronic Payment Funds Institution (IFPE) and will function independently from Binance’s global operations. The entity will focus on deposits and withdrawals in Mexican pesos while driving financial innovation tailored for local users. Binance stressed that Medá’s independence ensures operational autonomy, creating a new benchmark for cooperation between Mexico’s traditional banking system and the virtual assets sector.

With over one billion pesos earmarked for investment over the next four years, Medá is positioned to become a major competitor in Mexico’s fintech space. Guilherme Nazar, Binance’s regional vice president for Latin America, described Mexico as one of the company’s most strategic markets, pointing to the country’s population of more than 125 million. He added that Medá will bring more affordable and higher-quality financial services to consumers while intensifying healthy competition.

The launch also aligns with Binance’s broader global compliance push. The exchange says it now holds approvals, licenses, or registrations in 23 jurisdictions, including France, Italy, Spain, Japan, Brazil, and Argentina. In France, regulators recently required Binance to restructure its local entity, leading to new shareholders being appointed in 2024.

Mexico is not Binance’s only Latin American priority. Data shows Brazil remains one of Binance’s largest markets worldwide, ranking fourth globally in web traffic. Other top regions include South Korea, Ukraine, Vietnam, and Turkey, underscoring Binance’s global footprint as it continues expanding into regulated markets.